Comments
Individuals prefer to opt for bank fixed deposits as a safe bet, according to an internal assessment by ING Vysya Bank. The internal assessment was carried out by with reference to its retail liabilities portfolio.
Preference seems to be in favour of deposits that do not penalise the customer for premature withdrawal or closure. Accordingly such no-penalty fixed deposits have a 500 per cent higher growth.
According to the assessment, what is more interesting is the fact that the younger population is actively booking more fixed deposit products in comparison to senior citizens.
It was also seen that a majority of Indian investors prefer fixed deposits as a safe and secure avenue to park their savings. While FD gives a large degree of security, it is commonly perceived that they remained locked in and unavailable during an emergency.
In a nation-wide survey carried out across multiple cities, customers gave a feedback indicating they do not encourage paying a fees or getting penalised for withdrawing their own money from a FD, ING Vysya said in a release.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.