Provident Fund earnings often form a large percentage of retirement corpuses and so, it is absolutely key to employ an efficient approach to sustaining them. Thankfully, with reliable and safe options like the fixed deposit, you can make the most of your EPF by simply depositing your proceeds. For those looking for stable returns and attractive interest rates, Bajaj Finance Fixed Deposit is the best option. You can also opt for multiple payout options, thus ensuring that you have access to funding as per your requirement.
For a more detailed understanding on why you should invest your PF earnings in a Bajaj Finance FD, read on.
Guaranteed returns with high credibility and stability ratings
As PF earnings are generally available to you only after retirement and can form a large chunk of your retirement fund, investing them in a safe option is key. What makes Bajaj Finance Fixed Deposit a good post-retirement vehicle is that it carries the highest credibility ratings of FAAA by CRISIL and MAAA by ICRA, which are the highest in their respective categories. These ratings are indicative of reliability and an excellent track record in terms of interest payouts. Additionally, Bajaj Finance is the only Indian NBFC to have the ‘BBB-’ rating by the international agency S&P Global.
Earn greater profits courtesy of higher interest rates for senior citizens
While this FD offers value to all customer types, senior citizens, in particular, benefit from substantial returns owing to enhanced rates of interest. To illustrate, you can get up to 8.35% if you are a senior citizen, 0.25% higher than what regular citizens get. The rates here increase as the tenor increases and peak for terms of at least 36 months.
To help you understand how your PF earnings can thrive with this FD at varying tenors, consider the following example.
Senior Citizen
Investment amount | Tenor (in yrs.) | Interest rate | Interest earned | Maturity Amount | Returns |
Rs.25,00,000 | 2 | 8.15% | Rs.4,24,106 | Rs.29,24,106 | 16.96% |
Rs.50,00,000 | 3 | 8.35% | Rs.13,59,995 | Rs.63,59,995 | 27.19% |
Rs.75,00,000 | 5 | 8.35% | Rs.36,99,686 | Rs.1,11,99,686 | 49.33% |
You can use Bajaj Finance FD Calculator to check the returns on your investments, even before you invest. This can help you plan your investments better, and choose tenors or periodic payout frequencies, accordingly.
Get access to a quick loan against your deposit to address emergencies
A particularly notable feature of this FD is that you can get access to a loan against your deposit to help address emergencies. Depending on the worth of your FD, you can obtain financing of up to Rs. 4 lakh, even as your deposit continues to earn interest in the backlines.
Further, you can avail this loan in an instant by simply applying for it online and have the sanction disbursed to you in an expedited manner.
Choose Multi-Deposit feature to ladder investments
Post retirement, having access to liquid funds is key and to this end, you can choose to ladder your investments using the Multi-Deposit facility. Here, you can invest your PF earnings in multiple FDs using just a single cheque and pick varying tenors for each of them to mature at, depending on your goals. The upside being that the you can intelligently carry out laddering, without hassles, and ensure that you always have funds available to you, whenever you need them.
You can also invest your PF in portions by taking the Systematic Deposit Plan route to stagger your deposits and gain timely liquidity. Likewise, you can also opt for frequent interest payouts to meet recurring expenses with ease.
Invest easily through the online process and through your debit card
To further simplify the process, you can invest in this FD online by following these simple steps.
Additionally, you can also invest by using your debit card. However, do inquire about the availability of this feature in your city.
As you’ll notice, a lot of the above-mentioned features focus on extending convenience to the investor, thus making this FD an incredibly viable senior-citizen instrument. Further, considering the fact that PF earnings are typically sizable, you can rest easy knowing your money is safe and growing reliably.
If you’re looking to extract greater value from your PF earnings, consider investing in Bajaj Finance online FD right away.
Disclaimer: This content is distributed by Bajaj Finserv. No TNIE Group journalist is involved in the creation of this content.