As digital payments become more common in India, people’s investing habits are also shifting online.
To cater to this trend, the digital payment platform Mobikwik has announced a new fixed deposit (FD) option with higher interest rates just in time for Diwali.
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Mobikwik’s New Fixed Deposit Offering
Mobikwik, a startup planning to launch its initial public offering (IPO), revealed on Wednesday that it will offer an FD facility through its app in partnership with financial service companies. This will be an instant FD option.
Interest Rates and Investment Details
Customers on Mobikwik’s platform can earn interest rates of up to 9.5 percent per annum on their FDs.
The investment period for these FDs will range from 7 days to 60 days, with a minimum investment of Rs 1,000. Mobikwik aims to make saving easier for its users with this new offering.
Other Investment Options for Diwali
If you’re considering starting your savings or making new investments this Diwali, there are other options besides bank FDs. You can also look into mutual funds, as well as investing in gold and silver.
Currently, many methods are available for investing in gold, including digital gold and gold exchange-traded funds (ETFs).
Buying gold during Diwali is traditionally considered auspicious. Given the current global situation, investing in gold is viewed as a safe option, leading to a rise in gold prices.
Investment Options for Diwali
If you’re looking to start saving or invest during Diwali, there are various options available besides bank fixed deposits. You can also consider investing in mutual funds, digital gold, or gold ETFs.
Buying gold during Diwali is considered auspicious, and with the current global situation, many view gold as a safe investment. This has led to an increase in gold prices, making it a popular choice for investors.