The repo rate has recently witnessed its fourth cut in 2019; and at 5.40 per cent, it is the lowest it has been in almost a decade. This has resulted in a lowering of interest rates for various savings schemes. Several financiers have also reduced their FD interest rates, which may imply a lower yield from your investments. However, investing in a
fixed deposit can help you get guaranteed returns, enabling you to combat inflation and bring in profit from surplus funds easily.
Bajaj Finance Fixed Deposit offers competitive interest rates, along with a suite of features that enable you to enjoy a hassle-free experience. You can take advantage of a flexible investment tenor and choose interest pay-out options based on your requirements.
To know more about how this FD can help grow your savings, check out a few of its standout features.
Attractive fixed deposit interest rates
When growing your savings, an element to take note of is the interest rate. Bajaj Finance offers interest rates up to 8.35% to regular investors and 8.70% to senior citizens on an FD of at least 36 months, where interest is payable at maturity. The benefit of this rate is best noticed when deposits have a long tenor. To understand this concept better, consider the following examples.
Investment amount (in Rs.) Tenor (in yrs.) Interest rate (in %) Maturity amount (in Rs.) Growth of Savings (in %) 2,00,000 1 8 2,16,000 8 2,00,000 2 8.05 2,33,496 16.7 2,00,000 5 8.35 2,98,657 49.32
Investment amount (in Rs.) Tenor (in yrs.) Interest rate (in %) Maturity amount (in Rs.) Growth of savings (in %) 2,00,000 1 8.10 2,16,200 8.10 2,00,000 2 8.15 2,33,928 16.9 2,00,000 5 8.45 3,00,039 50.01
Investment amount (in Rs.) Tenor (in yrs.) Interest rate (in %) Maturity amount (in Rs.) Growth of savings (in %) 2,00,000 1 8.35 2,16,700 8.35 2,00,000 2 8.40 2,35,011 17.50 2,00,000 5 8.70 3,03,513 51.75
In addition to these attractive
FD interest rates, you can also look for a suite of exciting features that make investing in a Bajaj Finance Fixed Deposit worthwhile. Multi-deposit facility
When you ladder, you invest in FDs of different tenors and pay-out frequencies at the same time. This is a great way to get more value from your investment. For instance, one benefit it offers is that you get a matured investment at timely intervals. This means that you enjoy periodic liquidity, should you need it.
In turn, laddering your FDs reduces the need to prematurely withdraw from an FD. This allows you to earn full interest and avoid any penalties that come with premature withdrawal. Moreover, you can take advantage of revised market rates and reinvest your money accordingly. To make multiple deposits simple, Bajaj Finance allows you to invest in several FDs of different amounts, tenors and pay-out frequencies via a single cheque.
With a Bajaj Finance FD, you can invest for a flexible tenor that ranges from 12 to 60 months. As you’ll notice in the above table, investing for a long tenor yields greater returns and this is all due to the power of compounding interest. So, if your savings aren’t earmarked for any obligation in the near future, invest it in a Bajaj Finance FD for a long tenor so that it can grow safely.
Bajaj Finance offers an auto-renewal feature at the time of investment that allows you to reinvest your earnings at maturity without submitting forms or documents. This is especially beneficial if you want to grow your money for retirement or a big-ticket purchase as reinvestment is effortless and offers extra 0.10% interest.
High credibility ratings
Since you’re investing your hard-earned savings, the credibility of the investment is of utmost importance. With Bajaj Finance you have nothing to worry about as the FD has the highest ratings of FAAA by CRISIL and MAAA by ICRA.
As you may notice, Bajaj Finance Fixed Deposit is a feature-rich investment avenue that enables you to grow your money safely, without any stress. Additionally, it helps you tackle emergencies with an online loan against fixed deposit of up to Rs 4 lakh based on the FD amount.
To benefit from these excellent features today, invest in this FD online. All you have to do is
book an appointment and authorise a representative to get in touch with you to complete minimal formalities. This is a partnered post.