You have broadly two categories of financial instruments to grow your savings – market-linked instruments and fixed-income instruments. While the former helps you earn higher returns but at higher risks, the latter helps you earn lower yet stable returns at relatively lower risks. Thus, fixed-income instruments are safer.
One such investment option that falls in the fixed-income instrument category is Fixed Deposit (FD). FDs offer assured returns at a predetermined interest rate. However, currently the RBI’s monetary policies have led to a steep fall in traditional bank FD rates.
So, are you wondering how to invest your money and where so that you earn higher returns at relatively lower risks? If yes, one of the investment avenues that meets your criteria is Bajaj Finance FD. It has all the features of a conventional FD but offers relatively higher rates of return even during a low-interest regime.
Reasons for choosing Bajaj Finance FD
1. Attractive interest rates
As mentioned earlier, Bajaj Finance FD rates are higher than traditional bank FD rates. With Bajaj Finance FD, you will earn a minimum of 5.98% and 6.15% on non-cumulative and cumulative FDs respectively. This interest earning can go up to 7% for offline investors aged below 60, up to 7.10% for online investors aged below 60, and up to 6.75% for senior citizens.
The Bajaj Finance senior citizen FD rate is competitive compared to rates of return from many other senior citizen saving schemes in India. A longer tenor, helps in gaining higher rate of return from Bajaj Finance FDs. Similarly, the lower your interest payout frequency, the higher will be your rate of return from Bajaj Finance non-cumulative FDs.
2. Flexible investment durations
With Bajaj Finance FD, you can invest your money for any duration between 12-60 months. Thus, you can time your FD investments in such a way that both your short-term liquidity needs as well as your long-term objectives are met easily.
3. Systematic Deposit Plan (SDP) Schemes
SDP is a unique offering akin to a mutual fund SIP scheme from the stables of Bajaj Finance. Under an SDP, you need to invest a small amount monthly. Each monthly deposit is invested at the prevailing rate of interest of Bajaj Finance FDs on the date of investment. You can also choose any tenor between 12-60 months for each of your monthly deposits. Thus, SDP schemes not only safeguard your principal but also minimize your interest rate risks.
There are two kinds of variants under Bajaj Finance SDP – Monthly maturity and single maturity schemes. You can make 6-48 deposits under the monthly maturity scheme. Each monthly deposit can have a different maturity date. Under the single maturity scheme, all your monthly deposits will mature on the same date.
4. Minimum Deposit Requirements
You can open a Bajaj Finance FD with just Rs 25,000 in your pocket. For an SDP scheme, you just have to set aside Rs 5000 per month.
5. Easy Application Process
You can book a Bajaj Finance FD online from the comfort of your home. The online application process is straightforward, paperless, and hassle-free. All you need are the scanned copies of your PAN card, bank account details, identity, and address proofs. At some select locations, you can book an FD with a debit card too.
6. Value-Added Features
Bajaj Finance FDs have a minimum lock-in period of just 3 months compared to longer lock-in periods of many other senior citizen saving schemes. Moreover, you can avail of the premature withdrawal, loan-against-deposit, or multi-deposit facilities as per your needs.
7. High Credibility and Stability
Bajaj Finance FD has consistently received high credit ratings of ‘AAA’ from ICRA and CRISIL. Thus, your money is in secure hands.
If you do not know how to invest your money to grow your wealth safely, then booking Bajaj Finance FD online may serve your purpose in 2021. Bajaj Finance FD not only preserves your principal but also offers you attractive rates of return compared to other bank FDs along with a wide-range of value-added benefits.