Invest in a Bajaj Finance Online FD From the Comfort of Your Home
Dec 11, 2020
Pune (Maharashtra) [India], December 11 (ANI/BusinessWire India): Fixed deposit investors have reason to cheer after the recent Monetary Policy Committee meeting, as a key decision made was to maintain status quo on the RBI's repo rate.
While studies forecast a reduction in the benchmark lending rate in the future, as for the present, the repo rate remains at 4 per cent, thus exerting no further downward pressure on FD interest rates. Hence, investors can continue to lock into attractive FD rates as 2020 draws to a close.
With the Bajaj Finance
, customers can earn at FD rates of up to 6.85 per cent. Further, investors benefit from the safety of an AAA-rated instrument and can make an FD investment to lend stability to their portfolio.
Here is how investors can benefit by locking into an FD now.
Bajaj Finance offers some of the best
at present, and these run up to 6.60 per cent for non-senior citizens and 6.85 per cent for senior citizens. What is impressive is that customers can lock into an FD for a tenure of even 5 years, and continue to earn at the current rates, even if the repo rate drops in the future.
Below is a table generated with the
indicating how customers can grow their savings by locking into the Bajaj Finance FD.
* Deposit amount: Rs.10,00,000
* Tenure: 5 years
By investing online, regular customers get an additional interest rate benefit of 0.10 per cent. Senior citizens, however, benefit from a 0.25 per cent rate hike on the FD rates whether they book an online FD or not.
An upside to investing in an FD is that the lock-in period is flexible. This is something that one has to give up with other safe instruments like PPF. Bajaj Finance offers customers a 12- to 60-month tenure and customers can keep their funds invested for a suitable period, as per their goals. However, for the best fixed deposit rates, one should invest for at least 3 years.
Similarly, customers who need frequent earnings for recurring needs can opt for regular interest payouts. On the
, monthly interest payouts are shown alongside payouts for other frequencies, like quarterly, half-yearly, and yearly. The lower the payout frequency, the higher is the FD interest rate. Nevertheless, customers can opt for a payout frequency as per their convenience and needs.
The Bajaj Finance FD carries the highest stability ratings offered by ICRA and CRISIL, MAAA and FAAA respectively. This means that customers can earn at up to 6.85 per cent and expect timely returns with zero defaults. As opposed to market-linked instruments, here, investors enjoy an element of security. The FD's reliability makes it useful to any portfolio.
Bajaj Finance has a deposit book of more than Rs 22,000 crores, with 2,35,000 unique FD customers. Along with high safety and returns at up to 6.85 per cent, the
Bajaj Finance FD also offers features such as:
* Systematic Deposit Plan
* FD auto-renewal
* Multi-deposit facility
* Online loan against FD
Investing in this FD and benefitting from such features is extremely convenient and hassle-free. Customers need only book a
from the comfort of their homes to lock into the current rates immediately and get a 0.10 per cent FD rate bonus.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
