Why Should You Invest in a Bajaj Finance Fixed Deposit?
Fixed deposits (FDs) in India are the most popular and widely-availed investment option over life insurance policies, mutual funds, and stocks. One of the primary reasons for their mass popularity is overall flexibility.
Some of these include:
- Numerous lock-in periods to choose from depending on your financial goals.
- Invest as much as you wish to with practically no upper ceiling.
- Avail income tax benefits when you invest in tax-saver fixed deposit schemes with a 5–year lock-in period.
- Higher rate of interest compared to several other savings schemes.
- Interest pay-out as per your financial needs.
Fixed deposits provide guaranteed returns along with all the above benefits. You also avail the following features while investing in such secured financial schemes:
- Lucrative Return on Investments
The fixed deposit interest rates you get can go up to 8.60%. Senior citizens can avail an additional 0.35% additional interest over this rate.
- Short-Term and Long-Term Investment Periods
You can choose lock-in periods ranging from 12 to 60 months. Bajaj Finance also offers a special 15-month FD offering 0.05% more interest than a 12-month FD.
The convenient lock-in periods helps you invest, either short-term or long-term. Having a mix of both is ideal to gain the most returns.
You can avoid locking your cash in a savings account, which provides a mere 4% interest annually when investing short-term. And, you can save for a future big-ticket expense like a wedding with a long-term FD.
- Multiple Interest Payment Frequencies
Bajaj Finance Fixed Deposits are of two types:
- Cumulative FDs – These fixed deposits provide returns after maturity.
- Non-cumulative FDs – These fixed deposits provide returns monthly, quarterly, half-yearly, or yearly.
Investing in non-cumulative fixed deposits is beneficial if you seek regular income, especially after retirement. Some also utilize these returns to invest in recurring deposits (RDs) and grow their savings even more.
- Guaranteed Returns
Fixed Deposits from Bajaj Finance are not market-linked. Hence, changes in market conditions and inflation will not affect your returns. You will receive the promised ROI always.
- Safe and Stable Investment Vehicle
Bajaj Finance Fixed Deposit is rated FAAA by CRISIL and MAAA by ICRA, which is why it is the safest investment option for all investors, regardless of their risk appetite. Apart from all these benefits, you can also avail a Loan Against Fixed Deposit thanks to financers like Bajaj Finserv. The NBFC provides up to 75% of your cumulative fixed deposit and up to 60% of your non-cumulative fixed deposit as loans. Avail the funds quickly by providing only a few documents. You also get convenient repayment tenors that range from 90 days up to the remaining lock-in period of your FD.
Foreclosing or part-prepaying the loan is also beneficial as you don’t incur additional charges when doing so. Last but not least, you get to invest in multiple fixed deposit accounts with a single cheque thanks to Bajaj Finance. Use a fixed deposit calculator before you start investing. It is simple and easy to use online tool that can help you to calculate your returns quickly.