To club the benefits of stability and substantial returns, you can invest in Bajaj Finance FD. Also, you can pick a tenor that compliments your investment plans and get high-interest rates by investing in this FD scheme. You even have the option of selecting between cumulative and non-cumulative FDs based on your requirements. The main benefits of investing in Bajaj Finance FD are explained below:
Earn higher interest
By picking a long tenor and investing in cumulative FDs, you can grow your savings up to 6.75% which is one of the best FD rates in India. The tenor flexibility lets you choose any investment period between 12 and 60 months that can help you achieve your financial objectives. Also, a paperless investment procedure is provided that also provides the benefit of an extra 0.10% FD interest rate. Fill an online FD form and reap the benefits of higher interest today!
Multiple interest payout frequencies
If your monthly income is insufficient to take care of your expenses or if you are a retired person, you can supplement your income with Bajaj Finance FD. For that, you will need to invest in a non-cumulative deposit and pick any interest payout frequencies between monthly, yearly, quarterly, and six-monthly periodic payouts.
As a senior citizen, you will be eligible for a 0.25% higher FD rate and this will certainly reflect on your returns as well.
The high fixed deposit interest rates offered by Bajaj Finance FD help you earn substantial returns once the FD tenor completes. To cross-check this, let’s look at an example. Imagine that you invest Rs. 40,00,000 in a fixed deposit scheme for 5 years. The below table shows the interest rates, interest gains, and returns offered by both bank FD and Bajaj Finance FD:
|FD plan||FD Type||Amount||Tenor||FD Rate||Interest||Maturity Amount||Growth in savings|
|Bank FD||Cumulative||Rs. 40,00,000||5 years||5.5%||Rs. 12,56,266||Rs. 52,56,266||31.40%|
|Bajaj Finance FD||Cumulative||Rs. 40,00,000||5 years||6.75%||Rs. 15,44,973||Rs. 55,44,793||38.62%|
Remember that you can invest in Bajaj Finance FD with a minimum capital of Rs. 25,000. To check the returns and interest gains for other pairs of amount and tenor, you can use the FD calculator that has been integrated on its official website.
Once your deposits complete the mandatory lock-in period of 3 months, you can withdraw your deposits early as well. A minimum penalty may be charged for withdrawing your deposits prematurely. If you want to avoid paying a penalty, get a collateral-free loan against your deposits.
You can also deposit in multiple FD plans at once to enjoy higher liquidity options. For that, you will have to opt for the multi-deposit provision that enables you to break your deposits into small chunks. After that, you can invest these smaller amounts in separate FDs and the option of selecting a unique tenor and FD type for each deposit is also available. Investing in this FD scheme is totally secure as it has received high credit ratings from CRISIL and ICRA which are the leading credit rating agencies of the country.
When you evaluate your investment options, you should focus on both stability and high returns. Bajaj Finance FD is one of those rare FD schemes that provide the best FD rates in India even when the FD rates have been reduced significantly by banks and other financial institutions. The option of earning higher interest for senior citizens and online investors is also provided by Bajaj Finance FD. The liberty of withdrawing deposits upon completion of the initial 3 months and collateral-free loans offered against deposits make it an ideal instrument to tackle your emergency fund needs. Bajaj Finance FD is also a safe instrument as per the high credit rating that it has received from CRISIL and ICRA.
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.