Let's be real, with regular bank FDs offering just okay interest rates, the allure of those higher NBFC fixed deposit rates can be tempting! As someone just dipping my toes into investing, I was curious but cautious. Here's what I discovered:

Safety First: Since NBFC deposits aren't government-insured like banks, safety is paramount. I prioritised NBFCs with top credit ratings (think AAA from CRISIL). It's like giving your money to a super responsible friend – low chance they'd default!

Reputation Matters: Brand new NBFCs, no matter the rate, were a red flag for me. I stuck with established names with a proven track record. Think of it like choosing a restaurant – you trust the one that's been around for years, right?

Diversification is Key: While NBFC FDs can be a good option, I didn't go all-in. Spreading my savings between a trusted bank FD and a well-regarded NBFC felt like a safer bet.

Research Pays Off: Reading online reviews and news articles about NBFCs was time well spent. It gave me a sense of their stability and how they treat customers.

In the end, NBFC FDs felt like a calculated risk worth taking, especially with the potential for higher returns. But remember, prioritising safety and diversifying your investments is key! You can consider checking various FD offers on online financial marketplaces like Bajaj Markets. Here’s the link that you can use to easily access this website and get started - https://www.bajajfinservmarkets.in/

Just do your research and choose an NBFC with a solid reputation – that way, your money can grow while you enjoy peace of mind.