India has a very vibrant investment scenario and both new and existing investors are always on the lookout for newer and more profitable investment instruments. Similar to the global scenario, gold is a treasured asset in India as well and people continue to buy gold in order to ensure the security of their investments.
Investments in the equity and commodity markets are also prevalent in India. However, while returns are high with these kinds of market investments, their high risk profile makes many investors wary of investing too much into these markets.
Owing to these concerns, many investors prefer to invest in instruments that offer higher levels of security. There are several instruments that offer high security of investments but lesser returns as compared to equity and commodity instruments. Fixed deposits are among the most popular instruments in India owing to the security of the investment they offer as well as the guaranteed returns.
Fixed Deposit Investment in India
Fixed deposit investments in India have always enjoyed popularity with both existing and new investors. When people first join the workforce, a fixed deposit is the most common type of investment instrument that is recommended to them.
Fixed deposit investments in India are regulated by the government, which ensures the safety of the deposit and guarantees investors their returns. Fixed deposit investments are often made by investors who are looking for a more secure way of ensuring their savings. They are often also utilized by investors who are looking to build a lump sum corpus with the returns. Alternatively, fixed deposit investments are also the ideal instrument for those looking to secure their funds for a period of time until they are required to utilize those funds.
Fixed deposit instruments in India are also preferred by senior citizens owing to the lesser risk associated with these investments. Additionally, senior citizens are also offered higher interest rates on fixed deposits, which makes them keener to invest in these instruments.
The Bajaj Finance Fixed Deposit has gained popularity over the years, despite the market having several competitor products and offerings. Bajaj Finance FD guarantees investors high return rates upto 7.05% and even higher returns of an additional 0.25% for senior citizens. The deposit can be started with as little as Rs. 25,000 and can be held for a flexible tenor ranging from 12 months to 5 years.
Maximum Fixed Deposit Amount in Indian Bank
Different banks in India have different regulations pertaining to the fixed deposits they offer. While they are all governed by the Income Tax Act of 1961, different banks may offer different conditions to investors.
The maximum fixed deposit amount is one such variable that banks can customize as per their individual preferences. Depending on the bank you wish to invest in, you can assess the maximum fixed deposit amount without tax they allow.
It is important to identify your requirements before you start assessing the different fixed deposits available in the market. This is because different fixed deposits are positioned differently, and it is important to pick the one that best aligns with your requirements. The fixed deposit maximum amount limit is only one of the criteria that is important when making your final decision. You might also want to check the interest rates on offer, the investment tenor they offer and whether partial withdrawal of the investment amount is allowed.
However, it is important to compare the different maximum fixed deposit amounts as mandated by different banks. Read on below to learn the fixed deposit maximum amount limit offered by the most popular banks in India.
|Name of Bank||Fixed Deposit Maximum Amount Limit|
|State Bank of India||Rs. 1.5 lakh|
|ICICI Bank||Rs. 1.5 lakh|
|HDFC Bank||Rs. 1.5 lakh|
|Deutsche Bank||Rs. 1 lakh|
|IndusInd Bank||Rs. 1.5 lakh|
As evident, most banks offer similar limits on maximum fixed deposit amounts. This makes it even more essential to consider other criteria while opening a fixed deposit account, and thus, ideal if you have your requirements already identified. With the Bajaj Finance FD, you may find that all of your requirements are met.
Maximum Fixed Deposit Amount with Bajaj Finance FD on Finserv MARKETS
With a Bajaj Finance FD, you are not bound by a maximum fixed deposit amount at all. The Bajaj Finance FD can be started with as little as Rs. 25,000 and can be utilized by those looking to invest more than Rs. 1.5 lakh annually. Additionally, the fixed deposit offers a flexible tenor ranging between 12 months to 5 years, as per your personal preferences or requirements. You get the highest interest rates through fixed deposits, amounting to 6.50%, which are an additional 0.25% higher if you are a senior citizen.
The Bajaj Finance FD is extremely useful as you can also avail of a loan from the borrower using the FD as collateral. You can also opt to auto-renew your fixed deposit, which ensures that your lump sum returns are reinvested in order to attain a larger corpus.