Nearly 95% of PM Modi’s assets are in fixed deposits! Why FDs are a wise investment choice

financialexpress.com:

Prime Minister Narendra Modi has declared personal assets totalling Rs 3.02 crore in his election affidavit. Notably, the declaration includes Rs 2.86 crore invested in fixed deposits.

According to the affidavit filed by Modi before his nomination for the Varanasi Lok Sabha seat on May 14, the PM has no investments in stocks, bonds or mutual funds. As of March 31, 2024, his declared cash assets stood at Rs 52,920.

His two most notable assets include Rs 2.86 crore in SBI fixed deposits and Rs 9.13 lakh in National Savings Certificates (NSCs). Modi did not report ownership of any immovable property. He showed Rs 80,304 in SBI savings accounts. The affidavit showed his income tax deduction at ₹3.33 lakh for the previous financial year.

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Fixed deposits are considered a reliable investment tool, especially for senior citizens. With the PM parking nearly 95% of his wealth in fixed deposits, it shows the trust such investment tools command due to factors like stability and security.

The most distinctive feature of fixed deposits is their ability to offer a consistent income stream and protect against market fluctuations. This quality appeals to investors as most of them want reliable returns and financial stability, particularly during retirement years.

With fixed and stable interest rates, fixed deposits are predictable throughout the investment tenure. Due to its predictability, investors can plan for their various financial goals as they can calculate how much maturity amount they will receive.

Also, their flexible tenure options give investors a freedom to tailor investments as per their needs. Opening and managing FD accounts are