Finance

Invest in the Best Fixed Deposit schemes in India

A fixed deposit or FD is an investment product offered by banks and Non-Banking Finance Companies (NBFCs). In FDs, you invest for a set amount of time and get a fixed interest rate.

You know at the time of investing what interest rate you will get and how much money you will receive at maturity. You also get the option of selecting a regular payout of interest.

Fixed deposit is a safe option as returns are predefined and available at a fixed price with the minimal scope of risk. The interest rates may differ from one bank to the other. 

Amid significant market volatility and times of uncertain economic outlook. The fixed deposit stands out as a must-have instrument, vital to the excellent performance of every investment portfolio. However, the worrying factor for FD investors is that in the recent past. The RBI’s repo rate has been on a downward trend. The ripple effect of a slashed repo rate surfaces typically in reduced FD rates. Currently, the repo rate stands at 4%, and as per predictions, investors could be looking at a repo rate as low as 3.5% or even 3% in FY 2021.

About Bajaj Finance

Bajaj Finance Ltd is an Indian NBFC and focuses on consumer finance, SME (small and medium-sized enterprises), commercial lending, and wealth management space.

Bajaj Finance offers its customers multiple fixed deposit options with attractive interest rates. Customers can deposit the deposit amount once when opening with the bank. Bajaj Finance FD rates have been rated AAA by CRISIL and ICRA. Fixed deposit is one of the safest investment options in India, and it enables the depositor to take control of the investments with great flexibility and offers guaranteed returns.

Fixed Deposit Interest Rates 2022

Bajaj Finance FD is one of India’s most attractive fixed deposit investment options. With lucrative fixed deposit interest rates that are as high as up to 6.80% for individuals below 60 years of age, you can earn assured returns on your Bajaj Finance Fixed Deposit. On the other hand, senior citizens can get assured returns of 7.05%. It offers one of the highest fixed deposit interest rates in India. 

Bajaj Finserv Fixed Deposit Premature Withdrawal Facility

However, Bajaj Finserv or Bajaj Finance Fixed Deposit comes with a fixed lock-in period of 3 months. While there is no penalty on withdrawing money prematurely, one may incur losses in terms of earned interest. Hence, the account holder should try only to opt for premature withdrawal in a financial crunch or any emergency. Alternatively, one can take a loan against FD and get the desired cash flow without losing interest.

Bajaj Finance Fixed Deposit Calculator

Bajaj Finance FD Interest Rates Calculator can check the interest and maturity amount the depositor will get when the tenor ends. Fixed deposit offer higher interest rates than savings accounts and is more secure than other investment options (like mutual funds and stocks). Any individual who desires to invest in a fixed deposit account needs to provide the amount they wish to invest, the Bajaj Finance FD rate, and the deposit tenor they want to invest for. After providing these details, the investor can check the potential returns and compare them with other bank FD rates.

For example, a customer wants to invest Rs.5 lakh for 18 months with an annual interest payout frequency. With Bajaj Finance he/she will be able to earn a total amount of Rs. 5,58,070 (including Rs. 58,070 interest) on maturity at a Bajaj Finance FD rate of 7.60% per annum under the cumulative scheme.

Conclusion

With instruments like the Bajaj Finance Fixed Deposit still offering generous FD rates of up to 7.25%, it makes sense to lock in at the current rate and enjoys impressive returns for a long tenor. What’s more, investors can set up an online FD, from the comfort of their home in no time at all, to earn at the current rate conveniently and without hassles.

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