A Fixed Deposit is one of the safest forms of investment as it provides guaranteed returns and is safe from market volatility, ensuring a steady source of income. Bajaj Finance FDs are one of the most popular fixed deposits in the market, thanks to their high interest rates. Bajaj Finance FD rates for senior citizens are 0.25% higher than regular fixed deposit rates. Let’s examine the various benefits and how to manage your risks with Bajaj Finance FD.
Benefits of Bajaj Finance Fixed Deposit
There are various benefits in opening a Bajaj Finance Fixed Deposit account. Some of them are:
- Competitive Interest Rate: The Bajaj Finance FD rates go up to 7.95% for non-senior citizens, and 8.20% for senior citizens fixed deposits. These higher rates of interest are applicable for longer tenors where the compounding power does its magic.
- Low Minimum Investment: The minimum deposit in Bajaj Finance Fixed Deposit is just Rs.15,000. Investing in a fixed deposit helps you build the habit of saving, and you can open a fixed deposit account anytime without having to wait for a big corpus.
- Flexible Tenor: When you invest in Bajaj Finance FD, you can choose tenures from 12-5 years. If you want a regular monthly, quarterly and half-yearly payout, you have that option also. You can also save the interest up until maturity and enjoy the benefits of compounding on your capital investment.
- Multi-Deposit Functionality: You can open various fixed deposit accounts with Bajaj Finance fixed deposits, each with a different investment amount and tenor. This ensures you have better liquidity access in case of any financial emergencies as you can prematurely withdraw from one fixed deposit without disturbing the other FDs.
- High Credibility and Stability: It is the only NBFC operating in India to have the ‘BBB’ international rating. Bajaj Finance FD is a great choice if you are looking for a safe avenue to park your savings. Moreover, it has been rated the highest stability rating of ICRA’s MAAA and CRISIL’s FAAA.
Some Bajaj Finance Fixed Deposit offerings include:
Fixed Deposits
A fixed deposit (FD) is an investment avenue that banks, NBFCs and other financial institutions offer to their customers. With a fixed deposit, you can invest a certain amount of money for a predetermined period at a predetermined interest rate.
Fixed deposits not only provide higher returns, but the returns are also guaranteed. Individuals having a low-risk appetite but want to invest can choose fixed deposits. Bajaj Finance is one of the leading NBFCs that offer fixed deposits to their customers with a high interest rate. The interest rates start from 7.11% and go up to 8.20%.
Senior Citizen Fixed Deposit
Bajaj Finance FD rates provide an additional 0.25% interest rate for senior citizens. Elderly individuals can use the interest income that is earned from a senior citizen fixed deposit for financial needs such as medical expenses, household expenses, etc. You do not have to worry about saving a large corpus as you need only Rs.15,000 to start a senior citizen fixed deposit. Bajaj Finance also allows you to start a senior citizen fixed deposit account online. This means that you can easily open an FD account from the comfort of your home within minutes.
Systematic Deposit Plan
Usually, in order to invest in an FD, you need to gather a decent corpus before investing. You have to put some money aside for months in order to invest. This might not be an effective option as this money does not earn any interest, just lying around. The Systematic Deposit Plan (SDP) solves this issue for you, as you invest just Rs.5,000 monthly. These investments count as a new fixed deposit, and it will get booked as per the current FD rate.
The terms for these investments will vary depending on whether you invest in the monthly or single maturity scheme. With the former, you can choose the tenor you want, and the interest income will be paid when the deposits mature. In contrast, with the latter, you get the interest income on a single date, and the tenor of each fixed deposit will be adjusted accordingly.
Conclusion
It is important to diversify your investment portfolio in order to mitigate any financial loss and balance the risk-to-reward ratio. Even those with a medium-high risk appetite can invest a portion of their overall funds in FDs as it balances out the risk from market-linked instruments like mutual or equity funds. So invest in a Bajaj Finance fixed deposit now and enjoy its benefits. You can invest in a Bajaj Finance FD either online or offline as per your convenience and reap the benefits of compounding for sound and secure financial future
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