Should you opt for auto renewal of deposits?
The Hindu
Master savings account is the key to ensure your money stays on course to achieve life goals
Bank deposits form an integral part of an individual’s goal-based investments. An important decision you may have to take relating to bank deposits is whether to opt for auto renewal on maturity. In this article, we show why auto renewal may not be an optimal choice.
Bank deposits offer certainty in cash flows. Ignoring the small credit risk associated with such investments, you know the maturity value you will receive when you invest in a cumulative deposit. Similarly, you know the maturity value when you start a recurring deposit.
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