Sharad is recuperating from a loss in the share market. After seeing a few of his colleagues make quick profits, he went ahead without any due diligence. Had, he listened to his father’s advice, he would have been in a better place today, financially speaking. However, he dismissed what his father had to say, by telling him that old ways of saving and investing are passe’ and don’t yield as much when compared to other market-linked instruments. He is repenting what he did and said, wishing only if he had invested in a safe and secure bank deposit like the ones available on Finserv MARKETS. These fixed deposits are rated FAAA/Stable by CRISIL and MAAA (Stable) by ICRA making them some of the safest deposit schemes in the country, assuring you of utmost security of the money invested.
Protection for all
If you too think like Sharad, it is time to dismiss all your doubts. It is true that market-linked investments give higher returns, but they also come with higher risks. And you should invest only if you have the appetite for risk and are aware of the pitfalls. Else, go for the tried and tested Fixed deposit, that has a long track record of delivering good returns. Be it for a first-time investor who has just learnt to handle money or for senior citizens, it is a preferred choice, for both, being one of the safest options when it comes to investing.
Guaranteed higher returns for seniors
Fixed Deposits available on Finserv MARKETS offers an attractive interest rate of 8.60 per cent which can go up to 8.95 per cent depending on the tenure. With an interest rate higher than your savings account, you can accumulate wealth and grow your corpus. Senior citizens get additional returns of 0.35 per cent over and above the regular interest rate as well as the option of periodic payouts, to fund their regular expenses. This helps them be relieved about their life savings. The return on investment is guaranteed. Your FD will earn the prevailing interest rate as specified by your bank irrespective of the amount you have deposited. Market fluctuations are not going to impact the returns on your investment.
Longer the tenure, higher the profits
If you opt for a bank deposit with a period of say five years, the interest rate would be higher than that for a year. So it makes sense to stay invested for long. Staying invested for a longer-term also helps build a habit of saving that is good for wealth creation. Bajaj Finance Fixed Deposit has a 15-month special tenure FD which offers 0.05% more than that of a 12 month one.
Choose as per your needs
It is up to you to choose whether you want to stay invested for a year or five as per your financial needs and when you need cash. Opting for auto-renewal of the Fixed deposit saves you the hassle of documentation on maturity. You can also choose the frequency of interest -monthly, quarterly, or yearly. Alternatively, you can opt for a Cumulative FD in which the interest is reinvested delivering even better returns.
Multi Deposit facility
On Finserv MARKETS, you can invest in multiple deposits with different tenures and interest payment frequencies with a single cheque payment. In the event of a financial emergency, you can prematurely withdraw from a single deposit, without having to break all other deposits which keep earning interest as usual.
Online loan against deposit
Supposing you need money urgently, you can break your deposit, as in prematurely withdrawing money, but a penalty is levied if you do so. Hence, it is advisable to get a loan. One can borrow, up to 70% of the principal, whereas your deposit keeps on earning interest. While the interest earned reduces the interest outgo on the loan, you do not have to pay any penalty, among other expenses that come up.
To sum it up, a bank deposit is the safest means to park your funds. You can begin investing with as low as Rs 25, 000 to get better returns and build your wealth. Easy online application processes today not only save time but also help avoid the hassle of submitting lengthy documentation or waiting in long queues. It is an investment choice for people of all ages, young and old alike, offering both safety and security.
Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no-cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!