Fixed deposits are a great way to secure your financial future risk free. These instruments allow you to invest funds for a predefined period at a predetermined interest rate. This eliminates the need to monitor your investment or be wary about market fluctuations.
With digitisation, banks, NBFCs, and other financial institutions now offer fixed deposits with relative ease. Among these issuers is Bajaj Finance, a Non-banking Financial Company (NBFC).
Bajaj Finance offers fixed deposits at attractive interest rates of up to 8.60% p.a. You also get a flexible tenor going up to 60 months. This gives you the dual benefit of higher returns and minimum risk.
To learn about the Bajaj Finance Fixed Deposit, its features, types and more, read on.
The fixed deposit offers up to 8.35% per annum for non-senior citizen investors. It offers an additional 0.25% interest benefit to senior citizens, which drives the FD interest rate up to 8.60% p.a.
With interest rates as high as this, you will be able to maximise your returns and build your corpus easily in the long run.
The Bajaj Finance FD online scheme comes with a flexible tenor of up to 60 months. This allows you to choose a tenor that best suits your requirements of growth while ensuring financial security.
You can book a Bajaj Finance FD with a minimum deposit amount of ₹15,000. This helps you open a fixed deposit account and save for your financial goals even with a small surplus.
The multiple deposit facilities help you book multiple FDs with different tenors to access your funds easily during emergencies.
Renowned credit rating entities such as CRISIL and ICRA have rated the Bajaj Finance Fixed Deposit with a AAA/STABLE and AAA(Stable) rating respectively. These suggest the highest credit quality and safety and, making the Bajaj Finance FD a reliable and trustworthy option.
You can avoid the additional effort of renewing your fixed deposit manually by opting for the auto-renewal feature. This allows you to keep your funds invested for longer and continue to earn returns.
Along with these features, you can also rely on the Bajaj Finance Fixed Deposit Calculator. This tool gives you an accurate and quick estimate of your returns using the prevailing Bajaj Finance deposit rates.
All you need to do is enter your investment amount and the tenor you want to invest for to assess your potential earnings. With these estimates, you can understand which FD terms align with your goals and invest accordingly.
Like other fixed deposits, there are different Bajaj Finance FD schemes you can choose from. These are based on how you want to invest and receive your interest payout. Here is a brief overview of the same.
Functions like a regular Bajaj Finance FD
Minimum investment amount is ₹15,000
Minimum and maximum tenor is 12 to 60 months
The interest is paid out at maturity on cumulative deposits
The interest is paid out at a predetermined frequency on non-cumulative deposits
Investing in a Bajaj Finance FD online has numerous benefits that you can enjoy while growing your wealth. Its features and benefits make for great returns with no risks. Here are some top reasons why investing in the Bajaj Finance fixed deposit scheme is a good idea.
With interest rates as high as 8.60% you can receive high, assured returns, which can help you fulfil your wealth creation goals.
The Bajaj Finance Fixed Deposit offers cumulative as well as non-cumulative FDs that you can choose from based on your financial aspirations.
You can opt for a cumulative FD and receive interest earnings and the principal at the end of your tenor. In contrast, you can choose a non-cumulative FD and receive payouts on a monthly, quarterly, half-yearly or annual basis.
The high interest rates offered by Bajaj Finance FDs enable you to multiply your savings, and make them grow manifold. With increased funds, you will be able to strengthen your corpus over a specified period of time to meet life’s goals.
The premature withdrawal facility offered by the Bajaj Finance Fixed Deposit allows you to have liquidity when you need it.
You can also access your funds with ease by booking multiple FDs and prematurely withdraw from one of them during exigencies.
The feature of online payments provided by Bajaj Finance makes it easier for you to book a Bajaj Finance FD online without having to step out of your homes.
You can apply for a loan of up to 75% of your deposit amount during emergencies. This allows you to keep your FD invested as you get the funds you need.
The Bajaj Finance FD online scheme has a premature withdrawal option, which allows you to access your funds before maturity. You can withdraw your funds after the end of the lock-in period.
However, like other fixed deposits, the option for premature withdrawal is subject to a penalty. Here’s what you need to need to know about premature withdrawal from a Bajaj Finance FD scheme:
The minimum lock-in period is 3 months and you cannot prematurely withdraw the FD before 3 months
No interest will be paid if you make a premature withdrawal after 3 months but before 6 months of your investment
Premature withdrawal made after 6 months is subject to interest rates that are 2% lower than the applicable FD rates
In case the FD rate is not fixed, you will receive payout at rates 3% lower than the prevailing interest rates
While you can earn substantial returns with rates going up to 8.60% p.a. with Bajaj Finance FDs, here are FD rates offered by top financial institutions:
FD interest rates
While making any investment decisions, it is crucial to compare your earnings to ensure that you choose the best instruments. You can compare different FDs with an online FD calculator and ensure that you set terms that boost your returns.
At Bajaj Markets, you can compare and find the best offers without any hassles. With an easy online application, you can get your investment started in just a few minutes!
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The minimum investment amount for a Bajaj Finance FD online scheme is ₹15,000.
The minimum tenor of a Bajaj Finance FD is 1 year with a lock-in period of 3 months. The maximum tenor of a Bajaj Finance FD is 5 years.
Individuals such as Indian residents, persons of Indian origin and NRIs are eligible to book an FD with Bajaj Finance.
Non-individuals such as joint stock companies, Hindu Undivided Families (HUFs), partnership firms, registered societies, public and private limited companies and others are also eligible to book a fixed deposit online or offline.
Yes, this is a safe investment option since it is accredited by CRISIL and ICRA with the highest AAA/STABLE and AAA(Stable) ratings. This attests to the Bajaj Finance FD’s credibility and security.
Moreover, the interest rates are not affected by market fluctuations which ensures secure returns.
Yes, an online scheme offers competitive interest rates with a flexible tenor, which makes it a good option to grow your wealth without risks.
Yes, Bajaj Finance offers a facility that allows you to acquire 75% of your deposit amount as a loan against your FD.
Yes, about 10% to 20% in taxes are deducted from your Bajaj Finance FD returns once your returns exceed the limit of ₹40,000 (or ₹50,000 for senior citizens).
This depends on the individual or non-individual category under which you would like to book your FD. Usually, identity proof, address proof, deed of declaration, memorandum and articles of association are required.
Yes, a minor can invest in an FD; however, the account has to be owned by an adult. An adult is required to open an FD account on behalf of a minor.