Among the various instruments that you can choose to invest in, fixed deposits are probably the safest in today’s context as it makes your investment immune from market risks. Fixed deposit plans are offered by banks, finance companies, and post offices of India.
If you want to choose the best FD scheme, you will first need to compare the FD rates and returns by using an FD calculator. However, just growing your investment at a high rate is not enough these days as you will also need to compare other features like the flexibility of investment, tenor options, withdrawal policies, etc. before coming to a conclusion.
Bajaj Finance Fixed Deposit has emerged to be a popular FD scheme in recent times due to its safety, attractive interest rates and wide range of features it offers. Let’s see why it is one of the best avenues to park your corpus:
Safe Fixed Deposit Scheme
Reputed credit rating organizations like CRISIL and ICRA have given it the highest ratings on stability and safety. Millions of people have already deposited in this FD scheme and there hasn’t been a case of even one unclaimed FD to date.
Therefore, Bajaj Finance FD is one of the safest investment options in the market today that allows you to grow your savings without any risk.
Flexible investment options
The tenor range of 12 to 60 months enables you to pick a lock-in period that suits your investment plans. However, this is just the tip of the iceberg as there are several other flexible options and lucrative features that will help you to earn better.
For instance, the multi-deposit facility of Bajaj Finance lets you deposit in several FDs at once. The tenor and FD type can vary for each deposit and you can calculate the returns accurately by using its FD calculator.
It enables you to create a chain of deposits leading to multiple liquidity points that will balance the fluctuating interest rates.
Attractive interest rates
The interest of up to 6.85% offered by Bajaj Finance is the highest FD rate in the market. Additional 0.10% FD rate is offered if you fill an online FD form to invest in an FD online.
Senior citizens are eligible for a 0.25% additional FD interest rate that helps them to earn better returns. You can also multiply your earnings by reinvesting your returns in a cumulative FD. The auto-renewal option that is provided in the form enables you to reinvest your returns in the same FD by default.
Simple withdrawal policies
In case of emergencies, you can withdraw an FD prematurely by paying a minimum penalty. Also, you can avoid this by applying for a collateral-free loan against your FD.
The option of choosing between monthly, quarterly, six-monthly, and yearly interest payouts will help you to earn a fixed income every month. The minimum deposit amount is only Rs. 25000.
The option of tracking your investment online through Experia (its customer portal) and the benefit of using a debit card for investing from selected locations make it a hassle-free instrument for everyone.
If you are thinking what is investment then you can consider it as a vehicle that drives your earnings from one point to another. Among the risk-free investment options, FD is the best choice as it keeps your deposits safe from market-risks. However, to multiply your savings quickly, you should invest in a high-paying FD like Bajaj Finance FD that offers an interest rate of up to 6.85%.
The simple withdrawal norms, loan against FD, online investment method, higher FD rate for senior citizens, and the option to invest in several FDs at once make it convenient to grow your investment. Moreover, it is the safest investment option as it has received the highest ratings for being a safe and stable investment instrument.