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What is the interest range you can expect from fixed deposits?

By Finserv MARKETS - Aug 28,2019
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What is the interest range you can expect from fixed deposits?

Fixed deposits are one of the most popular ways of saving money and earning interest on it without the involvement of any risk. It lets you take control of your investments by clubbing stability with attractive returns — two combinations that can help you build your savings over time.

It also offers a range of payment tenures for you to choose from — tenures that meet your financial need the best. Besides, opening a fixed deposit — especially on Finserv MARKETS — is quite easy. All you have to do is feed in your basic details like name and phone number, complete your KYC by uploading some documents, choose a FD plan and make the payment to have it activated.

Post that, you can track your deposit online with a few steps at the access of your fingertips. You can know precisely how well your money is fairing in your fixed deposit account. Accessibility at hand is one of the most key features here as you will no longer have to stand in queues in the bank.

Interest benefits on FDs

One of the best parts of owning a fixed deposit account is that you get access to a higher rate of interest. If you open an FD account on Finserv MARKETS, you get some of the best offers on interest in India. You can start saving with an interest rate of 8 percent, which can go as high as 8.95 percent.

 

What is the interest range you can expect from fixed deposits?
 

Such a high rate of interest, better than most of the competitors, allows you to save more in less time. So if you have funds from your FD account assigned for a particular need, you can be assured that your fund will keep on growing at a steady rate — one of the precise reasons why it has gained much popularity.

Higher interest for senior citizens

For senior citizens, FDs on Finserv MARKETS are no less than a boon. They offer attractive investment option at even a higher rate of interest and come with payout options that work well to meet the financial goals of individuals.

Senior citizens — individuals aged sixty or more — get access to an interest rate of 8.95%, which is 0.35 percent up and higher than the regularl. This means that there is more to add in savings, every time.

Flexible benefits

FD accounts come with a lot of flexible benefits, such as a flexible tenure for the account, ranging between 12 months to 5 years. The time period mentioned here is quite perfect if you want to assign savings to a particular goal in life.

Besides, with risk-free investment, it is assured that your money is safe and earning interest, irrespective of the various risks that are associated with the market. You will know exactly how much money you will be making on your investment — unlike mutual funds where the gains are ever-fluctuating.

You also get access to multiple payout options for FDs on Finserv MARKETS, such as recurring income from fixed deposits — a sort of pension plan if you do not have a consistent source of income.

 

Conclusion

Fixed deposits are an excellent option if you are new to saving money and are looking for risk-free modes of investment — places where you can get assured returns on your savings at a fixed rate of interest. Fixed deposits on Finserv MARKETS are backed by a stable ICRA MAAA and CRISIL FAAA rating, which means that your investment is entirely safe.

It is for anyone who wants to grow their savings without having to risk the principal amount. With fixed deposits, you get the option of diversifying your investment portfolio and gaining higher returns that come with much stability, since your returns are not affected by the fluctuations that take place in the market.

You also get the option to renew or withdraw your fixed deposit at the completion of your tenure. All of these — withdrawing and renewing — can be done online in a few simple and easy steps. If you do not want to renew your fixed deposit account, then the amount saved in it it will be automatically credited to your bank account whenever it attains its maturity period.

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!

 

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522