Fixed deposits have been a favourite amongst Indian investors of all ages, mostly because returns are not tied to market fluctuations. Additionally, they’re easy to invest in and don’t require constant monitoring. However, investing in this instrument is beneficial only when the interest rate that your issuer offers is high. So in order to maximise your earnings, it is important to look for a financial institution that offers excellent interest rates. One of the best options in the country is Bajaj Finance’s Fixed Deposit, as its current interest rates go up to a staggering 8.95%.
Take a look at the returns that are in store for different investors on the basis of their profile, tenor, and interest payout option.
FD interest rates as per various investment parameters
New customers get 8.60% interest
| Deposit amount (in Rs.) | Tenor (in yrs.) |
Returns
(in Rs.) | Maturity amount (in Rs.) |
| 1,00,000 | 3 | 28,082 | 1,28,082 |
Existing customers and Bajaj employees get 8.85% interest
| Deposit amount (in Rs.) | Tenor (in yrs.) |
Returns
(in Rs.) | Maturity amount (in Rs.) |
| 1,00,000 | 3 | 28,969 | 1,28,969 |
Senior citizens get 8.95% interest
| Deposit amount (in Rs.) | Tenor (in yrs.) |
Returns
(in Rs.) | Maturity amount (in Rs.) |
| 1,00,000 | 3 | 29,325 | 1,29,325 |
Alternatively, you can also find the interest rate applicable for your chosen amount, tenor and payout option by using the Fixed Deposit Interest Calculator. A quick calculation will show you how rapidly you earn returns basis the tenor you choose. For instance, if you invest Rs.1 lakh as a senior citizen for 5 years, your returns will amount to over 53% of the investment amount at maturity!
Apart from high interest, Bajaj Finance also offers a range of other benefits along with its Fixed Deposit. These are as follows.
High stability ratings
FDs offered by Bajaj Finance enjoy the highest ratings by both CRISIL and ICRA. This means that there is no doubt that you will receive the amount due to you on time, and in full. Your finances are as safe as can be!
Flexible tenor
Since your investment in a fixed deposit is locked for the entire tenor, planning for liquidity is crucial to ensure that you can access funds as and when you need to. To help you with this, Bajaj Finance offers various tenors ranging from 12 to 60 months. You can use this to ladder FDs as per your liquidity requirements. To simplify this task, be sure to use the online FD calculator and ascertain your maturity proceeds before you invest. The best part is that you can make deposits to multiple FD accounts via a single cheque. This ensures that laddering your investments is hassle-free.
Additional interest on renewal
Your money grows rapidly in an FD because of compounding interest. So, the longer you invest for, the more your funds will grow. As an incentive to reinvest your FD maturity proceeds, Bajaj Finance offers an additional interest rate of 0.10% over and above your applicable interest rate. Moreover, it also allows auto-renewal to simplify the process for you.
Loan against FD
In the absence of savings or a contingency fund, you may consider liquidating your investments in an emergency. However, by doing this you will lose out on the returns that you could earn. To help you address emergencies without incurring a loss, Bajaj Finance offers a loan against FDs of up to Rs.4 lakh. Besides, the interest on the loan is only marginally higher than the current interest rate that your FD is earning.
Wait
no more and invest in an FD right away to enjoy some of the best
FD interest rates
in the country. Use FDs to secure your and your family’s future.