• Altsights
  • Posts
  • 🚀 2024's Best Investment Opportunity!

🚀 2024's Best Investment Opportunity!

Also, Altcase's First Investment Offering

Author

Madhu, Altcase
August 21, 2024

Welcome to this week’s Altsights!

Equities generate the best returns when you invest in them during difficult times like 2008 and 2020. 

But it takes courage to invest in them when there is blood on the street.

Thankfully, the investment opportunity I am going to discuss today doesn’t require such courage and is rather easy to grab.

2024: The Comeback Year of Fixed Deposits 🚀

For many years, especially since COVID, fixed deposits had lost their shine. Even the narrative on social media was completely against the good old FDs.

This was understandable because the stock market was roaring (still is!) and FD rates were at their lowest. Here are the highest FD rates of top Indian banks and NBFCs in 2020:

But it is 2024 and FD rates are lucrative again. Here are the highest FD rates of top Indian banks and NBFCs in 2024:

Senior citizens and women can earn even more.

Why Are FD Rates High Today? 😲

The RBI’s fight against inflation and credit growth outpacing deposit growth have aligned perfectly in 2024 to give us the highest FD rates seen in 10+ years!

  1. The RBI has kept interest rates high to fight inflation

    The RBI likes the inflation rate to be around the 4% mark. But it’s been above this mark for 6 out of the 7 months in 2024.

    To combat this, the RBI has kept interest rates high.

    High interest rates discourage borrowing which moderates the demand for goods and services. The result? Lower inflation!

    A by-product of high loan rates is high FD rates as the RBI’s policies impact all interest rates in the economy almost equally.

  2. Banks need deposits to cater to growing loan demand

    Banks make money by giving out loans and collecting interest on them.

    But without our deposits, banks can’t disburse loans. Recently, banks have not been able to collect deposits fast enough to cater to growing loan demand.

    As per the RBI, as of 26 July, bank credit grew 13.7% while deposits grew just 10.6% year-on-year.

    So, banks and NBFCs have been raising FD rates to attract depositors.

Launching the Largest Collection of Digital FDs

I see now as the perfect opportunity to invest some money in fixed deposits and Altcase is the best platform to grab it.

The team at Altcase has set out to curate the most stress-free investment experience and high interest fixed deposits are our first investment offering.

3 reasons why you should invest in high interest digital FDs on Altcase:

📈 Up to 9.41% interest rate per year
🏦 AA and AAA credit-rated institutions
⚡ 100+ FD schemes to choose from!

Our iOS and Android mobile apps are on the way and we’ll notify you once they are available for download.

Do explore Altcase and please share your experience with the platform.

We are very early in our journey and constantly looking for constructive feedback to enhance our platform experience.

Cheers,
Madhu,
Founder, Altcase