In the wake of the ongoing turbulence in the Indian equity market due to economic slowdown, a fixed deposit makes an ideal choice for your wealth creation goals. With an assurance of guaranteed returns coupled with a high safety net, a fixed deposit or a term deposit plan is indeed the best investment instrument to consider. Irrespective of your age group, income bracket, or employment status, FD offers the right risk-return trade-off. Here are some distinguishing features and benefits of Bajaj Finance FD:
Features and Benefits of Bajaj Finance FD:
High Interest Rate
While most banks have reduced their term deposit interest rates (currently averaging between 4% to 6%), following repo rate cuts by RBI, Bajaj Finance continues to offer a high-interest rate of up to 7.35%. This is one of the best interest rates across all FD issuers and also much higher than the post office FD rates (which is currently offering the highest rates up to 6.7%).
Additional Interest Rate Benefit
If you decide to open an FD online with Bajaj Finance, or go for an auto-renewal, you can earn 0.10% more interest above the base interest. This way, you have an opportunity to grow your FD corpus at even a higher rate and maximize your returns. Also, senior citizens can avail 0.25% additional interest rate over and above regular FD rates.
Safety of Returns
Bajaj Finance FD also has the highest safety and stability ratings from India’s top crediting rating institutions ICRA and CRISIL. So, you can rest assured that your returns are safe and most importantly, guaranteed.
Affordable Minimum Amount
You can invest in Bajaj Finance online FD with a minimum amount of Rs. 25,000. So, even if you have a limited investment amount, you can still easily start growing your money.
Estimation of Earnings Beforehand
It is always advisable to make planned investments to optimize your earnings. With the FD amount calculator, you can easily estimate your returns beforehand. It automatically and quickly calculates all the FD return parameters. You can simultaneously use the post office fixed deposit calculator to compare returns from both the investments.
Periodic Interest Payouts
Bajaj Finance FD provides an option to avail periodic interest payouts with the non-cumulative FD option. You can use the online FD calculator to calculate the monthly, quarterly, half-yearly and yearly income if you have chosen periodic payouts on your FD. This feature is especially very handy for senior citizens and investors who want a steady income from FD investment periodically.
Ease of Investment
The process of opening an FD with Bajaj Finance is very simple. You just need to fill an online application form. It will take you through an easy 4-step process. The documentation and KYC verification also happen online and smoothly. The entire formality will take only a few minutes.
Bajaj Finance FD also offers value-added features, such as:
- Flexible tenor ranging from 12 to 60 months with an option to choose periodic interest returns.
- Premature withdrawal after the lock-in period of 3 months from the date of investment.
- Loan against FD up to 75% of the FD amount.
- With the multi-deposit facility, you can invest in multiple FDs using a single payment cheque and easily split your investment across different FDs having varying tenors and interest rates. This will help you maximise your returns in the long term.
- Bajaj Finance also offers Systematic Deposit Plan wherein you can start investing in small monthly deposits starting from Rs. 5,000, and make 6 to 48 deposits for a tenor of 12 to 60 months. Each deposit will be treated as a separate FD and the interest rate prevailing on the date of the deposit will be applicable.