While NBFC FDs (Non-Banking Financial Company Fixed Deposits) offer certain advantages, it's essential to assess your financial goals and choose the right FD that aligns with your investment needs.

Some of the common advantages of NBFS FDs are:

  1. NBFC FDs typically provide higher interest rates when compared to traditional bank FDs.
  2. They also offer a wide range of FD choices with flexible tenures and interest payout frequencies
  3. Platforms like Upstox simplify investing in NBFC FDs without requiring a new bank account