Amongst the many ways to augment your wealth reliably and steadily, very few investments compare to a fixed deposit. Moreover, in 2019, investment in other instruments such as mutual funds and equity witnessed a sharp slump. While equity attracted only Rs.74,870 croreas opposed to 2018’s Rs.1.2 trillion, investment in mutual funds plummeted by a staggering 41%. In this scenario, should FDs seem like the more trustworthy option, it’s best to grow your wealth via an FD that is credible, offers generous interest rates and promises returns, such as the Bajaj Finance FD.
With Long-Term Repo Operations opening an additional window of Rs. 1 lakh crore, RBI shall be providing financing at 5.15% for 1 year and 3 years. However, this rate is higher than the prevalent FD interest rates for tenors of 1 and 3 years. Thus, issuers have started bringing down interest rates for deposits.
However, you can still get competitive interest rates of up to 8.35%by investing with Bajaj Finance Fixed Deposit.
For a detailed breakdown of this, read on.
Reap the benefits of attractive FD interest rates
As mentioned earlier, Bajaj Finance FD offers you generous interest rates of up to 8.35%, giving you substantial yields at the end of the tenor. Moreover, as this FDimmune to market volatility, it assures you of returns irrespective of market performance at the time of payout. Therefore, you can plan for and meet both, short-term and long-term financial goals efficiently with intelligent, preemptive investing. For best results, use the FD calculator when planning to accurately forecast your earnings over a given tenor and invest accordingly.
Check out the interest rates and payouts for different customers who invest a sum of Rs.20 lakh over a tenor of 36 months.
Senior Citizen
Interest rate (%) | Tenor | Interest payout (Rs.) | Total payout (Rs.) |
8.35 | 36 months | 5,43,998 | 25,43,998 |
New Customer
Interest rate (%) | Tenor | Interest payout (Rs.) | Total payout (Rs.) |
8.1 | 36 months | 5,26,429 | 25,26,429 |
Exiting Customer
Interest rate (%) | Tenor | Interest payout (Rs.) | Total payout (Rs.) |
8.2 | 36 months | 5,33,447 | 25,33,447 |
Bajaj Employee
Interest rate (%) | Tenor | Interest payout (Rs.) | Total payout (Rs.) |
8.2 | 36 months | 5,33,447 | 25,33,447 |
Also, if you’re looking to reinvest, do so effortlessly by opting for Bajaj Finance’s Auto-Renewal feature when you book your FD. This way you can forego the hassle of filling out renewal applications, while benefiting from FD renewal bonuses.
Get timely payoutsand safeguard your investments
As FDs aren’t subject to market risks, they have a fixed interest rate and thusguarantee earnings. Additionally, the Bajaj Finance FD has secured the highest stability ratings of ‘MAAA’ from ICRA and ‘FAAA’ from CRISIL. As it is branded one of the most trusted NBFCs in the country, your investments are in secure hands, and you do not have to worry about defaults or negative returns.
Benefit from flexible tenors
Bajaj Finance allows you to choose an investment tenor of 1 to 5 years. This gives you the flexibility to cater to long-term as well as short-term goals and leverage your finances smartly. While opting for a long tenor facilitates wealth creation, choosing a short tenor lets you capitalise on generous returns that help you beat rising expenses.
Monthly savings with Systematic Deposit Plan
As an industry-first FD feature, Bajaj Finance lets you make monthly deposits in a disciplined manner via its Systematic Deposit Plan. This negates the need to put aside a hefty lumpsum amount, and allows you to book an FDwith monthly payments as low Rs.5,000. With this feature, each payment is considered to be a new FD and you can make anywhere between 6 to 48 deposits. Remember, while you can choose a tenor ranging from 12 to 60 months,the tenor you choose for the first deposit applies to all. Additionally, the interest rate prevailing on the day of booking each deposit is applicable to that particular deposit.
Besides these provisions, you can avail the Multi-Deposit facility and ladder your investments easily via a single cheque. With this FD, you can also address emergencies by opting for aloan against FDof up to Rs.4 lakh.
To get started right away and reap these benefits, book a Bajaj Finance online FD by filling a simple form.
Disclaimer: This content is distributed by Bajaj Finserv. No TNIE Group journalist is involved in the creation of this content.