Get interest rates up to 8.70 per cent with Bajaj Finance Fixed Deposit
Pune (Maharashtra) [India] September 06 (ANI/BusinessWire India): An investment that earns guaranteed returns is always beneficial, more so when market-linked instruments aren't yielding returns as per your expectations. A fixed deposit is one such safe investment as it helps you grow your money and protect your portfolio against volatility.
ANI
Sep 06, 2019 11:55 IST
Pune (Maharashtra) [India] September 06 (ANI/BusinessWire India): An investment that earns guaranteed returns is always beneficial, more so when market-linked instruments aren't yielding returns as per your expectations. A fixed deposit is one such safe investment as it helps you grow your money and protect your portfolio against volatility.
Currently, Bajaj Finance Ltd., the lending and investment arm of Bajaj Finserv, is offering Fixed Deposit at up to 8.70 per cent interest, making it one of the top FDs available in India. Moreover, its credibility is ratified by some of the best rating agencies.
Here's how you can earn securely through the Bajaj Finance Fixed Deposit:
Earn 8.35 per cent interest as a new customer
Bajaj Finance offers regular customers a maximum interest rate of 8.35 per cent. As is the case with most deposits, the interest rate peaks when the investment term crosses the 3-year mark and when you opt for interest payouts at maturity only. What's more, the minimum deposit amount is just Rs 25,000 making it easy for you to get started right away.
To understand more about the returns you can get through this FD, take a look at how an investment of Rs 1 lakh grows over different tenors.
Get 0.35 per cent extra interest with a senior citizen's FD
The steady growth of wealth is paramount to your well-being and financial independence, especially if you're a senior citizen. Bajaj Finance understands this and aids wealth creation by offering a higher rate of interest on a senior citizen's fixed deposits. Here, the principal invested grows at a rate of up to 8.70 per cent.
As is the case with regular FDs, this interest rate is applicable when you opt for interest payouts at maturity only and invest for at least 3 years.
To understand how the 0.35 per cent interest rate increase benefits you, take a look at the following table where Rs 1 lakh is invested for varying tenors.
Secure additional 0.10 per cent interest when you renew your FD
As you may notice, your returns are higher when you pick a long investment tenor. This is because of the power of compounding. At the end of each compounding period, the interest earned is reinvested with the principal and so, you earn more as time goes on. When your tenor is long, the number of compounding period's increases, thus offering better returns.
Moreover, to help you make the most of compounding, Bajaj Finance offers a convenient auto-renewal facility that you can opt for at the time of booking your FD. This allows you to reinvest in a hassle-free manner and secure an additional 0.10 per cent FD interest rate so you can grow your money faster. Here's how.
Enjoy liquidity at periodic intervals to cater to regular spends
While opting for payouts at maturity ensures that your gains are as high as can be, choosing regular payouts allows you tend to recurring expenses. Therefore, to help you achieve timely liquidity, Bajaj Finance allows you to pick the payout frequency for your FD. It's important to note that the more frequent your payouts are the lower is the interest rate that you get.
Here's what you earn when you invest Rs 5 lakh for three years in a senior citizen's FD, and opt for monthly, quarterly, bi-annual and annual payouts.
Invest for the long term without worrying about stability
When you invest with Bajaj Finance you can look forward to timely interest and principal payouts. This is based on the ratings that this FD has been awarded, post an assessment by credible rating agencies. The Bajaj Finance FD has to its name ICRA's MAAA and CRISIL's FAAA rating. These attest to the FD's safety, a quality that certainly has a bearing on your investment decisions.
Now that you have all the information before you, request a call from an executive to initiate your investment. The representative will help you set up your FD and start multiplying your wealth in no time at all!
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
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