In a financial market offering a plethora of options to invest your money in, fixed deposit (FD) is one of the most popular and prudent investment avenues that guarantee assured returns to its investors. If you compare FDs with other investment options, the interest rates applicable on fixed deposits are reasonable too, given the security they provide vis-a-vis other financial instruments. This is primarily why most people choose to invest their hard-earned money in fixed deposits over other investment options. Now, if you compare the fixed deposit interest rates offered by banks to those offered by non-banking financial companies, you would find that companies offer its investors more lucrative interest rates. For instance, Bajaj Finance Fixed Deposit is one option that offers higher than market average returns on your investment with additional interest for senior citizens, along with other benefits.
Bajaj Finance Ltd, which is the lending arm of Bajaj Finserv, offers high fd interest rates on your fixed deposits with flexible tenures ranging from 12 to 60 months. The company also offers a 15-month special tenure Fixed Deposit that offers 0.25% more than the ROI of a 12-month FD. Senior Citizen enjoys an additional 0.35% over the regular interest rate.
If you are exploring the available options to invest your money in, while also worrying about the fluctuating financial market, you must look keenly at fixed deposits. Currently, the Reserve Bank of India has been on a rate-cutting spree. The apex bank has reduced the repo rate thrice consecutively. Repo rate is the rate at which the RBI lends to banks. This implies that the bank also passes on the reduction in the rate of interest to borrowers, who can now avail loans at a lower rate. Though this spurs activity and provides a strong impetus to the economic activity, it also means that the rate of interest you get on your fixed deposits reduces. Therefore, now is a great time to invest in an FD if you haven’t already, before the rates plummet further.
Bajaj Finserv Fixed Deposit is a lucrative instrument present in the market today, offering attractive rate of interest and other added benefits on its FD scheme. Let us look closely at the features of Bajaj Finserv FD and understand what makes it the perfect choice when planning to invest your hard-earned money in a fixed deposit.
Excellent credit rating: ICRA, a credit rating agency, offers ratings to fixed deposits of companies that can help guide investors in making the right decisions when it comes to investing money in FDs. These ratings are extremely crucial, as fixed deposits with companies are unsecured in nature and unlike bank fixed deposit it is not covered by a guarantee from the Deposit Insurance and Credit Guarantee Corporation of India.
Higher ratings suggest that the company does not default on the payment of the principal as well as the interest amount. It also has good credibility in the market.
MAAA ratings (stable) are considered as one of the highest ratings that are given to fixed deposit products of companies. Bajaj Finance Ltd, the lending and investment arm of Bajaj Finserv, has been accredited with ICRA's MAAA (stable) rating and Crisil's FAAA/Stable rating. These ratings indicate the lowest investment risk and highest safety for the investors.
Safe investment option: The prime reason of investing in Bajaj Finance Fixed Deposit is that it is one of the safest investments as the returns are assured and not based on the market fluctuations. So, if you are averse to taking risks in the market that is intrinsically volatile, Bajaj Finserv’s FD is a smart choice for you.
Minimal deposit: You do not have to be rich to be able to invest, just be financially prudent. Bajaj Finserv understands this and therefore, gives you the choice to invest an amount as low as Rs. 15,000 into an FD scheme. With this minimum deposit amount, you can start investing any time, without having to wait to accumulate a larger corpus. Even with a smaller minimum deposit amount, you can ladder your investments, and earn better returns.
Attractive rate of interest: The first step to increasing returns from your fixed deposits, is to select a credible lender, who offers you a higher interest rate. As already discussed above, Bajaj Finance Fixed Deposit offers the most lucrative interest rates on the market today
Higher interest rate to senior citizens: Senior citizens get an interest rate that is 0.35% and above the existing interest rate.
Flexible tenure: Bajaj Finance offers you an advantage of choosing from the flexible tenor of 12 to 60 months. So, you do not have to lock down your money for a long time to be able to enjoy returns. You can choose the longevity of the tenure depending on your financial priorities and requirements.
Flexible payouts: Giving you another way to enjoy your returns as and when you like, Bajaj Finance Fixed Deposit offers both cumulative deposits and non-cumulative deposits with yearly payouts option. This means that you can choose to get the full interest earned at maturity by choosing a cumulative FD or choose to get regular payouts at intervals of every month, quarter, half-year or year by choosing a non-cumulative FD.
Online application process: Bajaj Finserv offers you a swift, hassle-free online process to get started with your FD scheme. Just submit the online application form and a Bajaj Finance representative will get in touch with you for all the additional information and queries like the documentations required. All you need to do is to submit the application form, a photograph, and your KYC documents.
Auto renewal: Bajaj Finance Fixed Deposit offers its investors an auto-renewal option under which the company will automatically renew your deposits for the same period of time and the same interest rate upon maturity. Bajaj Finance Fixed deposit offers renewal benefits in the form of an additional 0.25% of interest.
Fixed deposits are a smart way to invest your money especially if you want to save for important milestones impending in your life like your retirement, child’s education or marriage etc. If your risk appetite is low, you need not worry about losing out on returns with service providers like Bajaj Finserv offering high interest rate. Enjoy the safety of your corpus while getting assured returns by signing up for Bajaj Finserv’s Fixed Deposit.