Credit Society FD

Fixed deposits were offered by the Credit societies much before other financial institutions and corporate companies. Being a savings account holder in the Credit society will entitle you to many perks. The customer can open a fixed deposit account either through online request or by visiting one of the branches.

To apply for a fixed deposit in a Credit society, the customer has to submit a few documents along with the application form. The rate of interest offered by the Credit society on the fixed deposits varies from society to society. In some cases, it also depends on the amount deposited by the investor and the term for which it is invested.

The Credit society fixed deposits are better suited for risk averse investors as their operation is monitored by Cooperative ministry of Maharashtra govt.

Corporate FD

Applying for a corporate fixed deposit is no different from applying for a credit society fixed deposit. The only difference here being that one should avail the application form either from the company’s official website or at the company itself.

Consider following factors for choosing Corporate FD schemes.

• Credit Rating: Opt for higher-rated corporate FDs based on its credit rating which indicates the underlying risk of the company.
• Company Background: Assess a company’s business viability by referring to its Financial Statements, Management Discussion and Analysis (MD & A).
• Repayment History: Companies repayment history helps to determine company’s credit score, credibility and stability.