Investing a part of your earnings regularly can help you meet several goals and targets, keeping your future secure. Investing in a fixed deposit is a great way to multiply your savings over time. Fixed deposits are a safer option as compared to market-related instruments.
To ensure high returns, opt for a reputed issuer that offers a substantial interest rate. A Bajaj Finance FD is a great risk-averse option and helps diversify your investment portfolio. Here are some of the reasons why investing in this fixed deposit is a great idea.
Better Interest Rates
The Bajaj Finance Fixed Deposit offers a high-interest rate of up to 7.45% (w.e.f 10th May, 2022) making it a great investment option. By investing in this FD, you could earn returns of over 42% of your total investment, depending on your payout frequency, tenor, and customer type.
You can use the Bajaj FD calculator to check out the different options available to you. For example -
You’re a new customer, and you invest a principal of Rs. 3,00,000 over a 5-year period at an interest rate of 7.00% (w.e.f 10th May, 2022). At the end of the 5 years, your savings will increase to Rs. 4,20,766. That is a 38.94% return on investment.
Senior Citizens receive 0.25% more on interest rates.
Affordable Minimum Deposit amount
Saving up a huge sum of money can take time and can be quite challenging. The Bajaj Finance FD has set the minimum deposit amount at Rs. 25,000 only. This eases the burden of saving large sums of money before you can invest in a fixed deposit. The sooner you invest in a fixed deposit the sooner you can multiply your savings.
Flexibility to Choose Tenor
In this day and age, flexibility is an appreciated feature. Customers enjoy having the ability to choose parameters that best suit their needs. The Bajaj Finance Fixed Deposit offers you a flexible tenor, spanning 12 months to 60 months. Also, by taking your liquidity requirements into consideration, you can plan and ladder your fixed deposits based on your needs.
Credibility Ratings Help Assess the Company
Credibility ratings given by ICRA and CRISIL indicate the health of a company. The higher the rating, the better the company’s health and stability. Bajaj Finance has been given the highest MAAA and FAAA credibility ratings by ICRA and CRISIL, respectively. This means that your Bajaj Finance Fixed Deposit is a secure investment, you needn’t worry about principal loss or default.
Various Payout Options
Bajaj Finance FDs offers you 2 interest payout options:
On maturity
The interest accrued is paid out at the time of maturity. By choosing this option the deposit benefits from the power of compounding and yields a marginally higher return.
At regular intervals
The interest is paid out at regular intervals (of your choosing) throughout the tenor of the fixed deposit. You can choose the payout to be made on an annual, bi-annual, quarterly, or monthly basis.
Conclusion
Investments play a critical part in wealth creation. Having an investment portfolio of both high-risk and low-risk investments safeguards you from drastic market variations.
Adding the Bajaj Finance FD to your portfolio is a smart choice that will help your finances grow and help you reach your goals.
