If the current market is making you think twice before investing then fixed deposits might be the ideal instrument for parking your savings. It is also the right choice if you don’t want to invest in market-linked instruments due to the risks associated with them.
Your first step should be to find an FD scheme that offers a better interest rate than other FD rates. Bajaj Finance is providing an interest rate of 6.85% that is one of the highest FD interest rates in India. It also provides other interesting features that make it one of the better investment schemes for you. Let us discuss those features in detail now:
Assured gains
As the bank FD interest rates are ranging between 2.5% to 5% these days, you will not be able to gain a lot by investing your corpus in bank FDs. However, your returns are surely going to be much better with Bajaj Finance FD as it provides a much higher FD rate.
The returns that apply to various categories on investing Rs. 300000 for let’s say 5 years are mentioned in the below table:
| Investor category | Regular citizen (Offline FD) | Regular citizen (Online FD) | Senior citizen |
| Amount | Rs. 300000 | Rs. 300000 | Rs. 300000 |
| Interest rate | 6.6% | 6.7% | 6.85% |
| Interest earning | Rs. 112959 | Rs. 114900 | Rs. 117824 |
| Maturity amount | Rs. 412959 | Rs. 414900 | Rs. 417824 |
Safe instrument
It is important to invest in safe and stable investment schemes because you would not want to risk losing your saved corpus in any way. Bajaj Finance FD has received high ratings by credit rating organizations like CRISIL and ICRA for being a stable and safe instrument.
Therefore, you don’t have to contemplate or get tensed before or after investing in its fixed deposit plans.
Systematic Deposit Plan
If you cannot invest a bulk amount in a fixed deposit, you can always invest in an SDP (Systematic Deposit Plan) of Bajaj Finance. It provides the flexibility of depositing a fixed amount starting from a meager Rs. 5000 every month. The number of deposits can range from 6 to 48 and each deposit will be regarded to be an individual FD.
You can either choose the same tenor for all deposits that can be up to 60 months or you can set a single maturity date for all the deposits. These flexible options make it a much better option than RDs and also allow you to get the returns at once or in successive months upon maturity.
Other benefits
Bajaj Finance offers an online method of investment for its investors. Upon choosing this method, you will get an online FD form and online KYC process to complete the formalities. Also, 0.10% additional rate will be provided on selecting this process.
Also, senior citizens get a 0.25% additional FD rate than others, and the option of receiving the interest payouts after every month, quarter, six-month, or year can be exercised by everyone if they prefer investing in non-cumulative FDs.
Investing in an FD could be your safest bet nowadays as the market is going through an unstable phase. The returns offered by bank FDs are not as much as the bank FD rates have been lowered now. However, you can still earn higher returns by investing in the Bajaj Finance FD scheme that is offering a high-interest rate and other flexible options for your convenience. The online investment option will provide you an additional rate of 0.10% and senior citizens will benefit from an additional 0.25% FD interest rate on investing in any of its FDs plans.
If you don’t want to put your entire investment at once then you can invest in its Systematic Deposit Plan that allows you to deposit a fixed amount every month and each deposit will be treated as a separate FD.