Why should senior citizens invest in Bajaj Finance Fixed Deposit

Pune (Maharashtra) [India], August 30 (ANI/NewsVoir):
is one of the most preferred investment avenues available today.
One of the reasons behind this trust is the sense of security that comes with an FD.
For senior citizens, investing in high-yielding, debt-focused instruments like fixed deposits can ensure safety of capital and stable growth of returns over time. Investors can be certain that their money will be safe in a fixed deposit, which is why, an FD is an ideal tool for growing one's retirement corpus.
While both banks and companies offer FDs, one can benefit from higher interest rates by company FDs. When choosing the right company FD to invest in, one must make sure to invest in FDs with high safety ratings. Bajaj Finance Fixed Deposit has the highest safety ratings by CRISIL and ICRA, which helps investors ensure safety of capital.
Here's a look at some of the key benefits of investing in Bajaj Finance Fixed Deposit:
1. Diversification of retirement portfolio - Bajaj Finance Fixed Deposits enable retirees to build long-term wealth by providing a stable, high yielding fixed income asset. Investors can also create a cushion against the volatility in market-linked securities such as equities, which might be part of the senior citizen's portfolio. The lump sum nature of the FD helps in maximizing the interest earned through compounding. Senior citizens can start a Bajaj Finance Fixed Deposit with a minimum amount of INR 25,000 and gain maximum benefits from compounding.
2. Higher interest rates for senior citizens - Bajaj Finance online Fixed Deposit offers some of the highest
in India. For non-senior citizens, the applicable interest rate is 6.50%, and an extra 0.10% is offered to those who choose to invest online. Senior citizens can avail an additional rate benefit of 0.25%, irrespective of the mode of investment. To understand how one can, create their retirement corpus with Bajaj Finance FD, consider investing Rs. 50,00,000 as principal amount for 5 years. Given below is a tabular representation of returns at maturity for senior and non-senior citizens.

As the table suggests, one can earn up to Rs. 19,31,216 over a period of just five years. Investors can also use the FD interest calculator, available on the Bajaj Finserv website, for checking the interest payouts for different tenors and deposit amounts.
3. Options to choose periodic payouts - When one invests in a Bajaj Finance Fixed Deposit, they can opt for periodic payouts, or choose to get entire payout at maturity. In case one chooses periodic payouts, they can also choose the frequency of their payouts. Interest earnings are higher for maturity at the end of tenor, but periodic payouts can enable one to fund their regular expenses.
4. The benefit of laddering - Senior citizens can avail the benefit of laddering - i.e., periodically investing in fixed deposits of different amounts and different investment tenors to create a large corpus. This can be done by investing in multiple fixed deposits with Bajaj Finance as it offers the flexibility to choose tenors.
Since FD interest rates keep fluctuating, such a strategy will help senior citizens avail of maximum benefit from their investments by overall averaging of interest rates across multiple fixed deposits.
5. Easy investment process - With Bajaj Finance online FD, one can invest in just a few minutes using a hassle-free, paperless online process. There is no need to wait in long queues, with
individuals can invest from the comfort of their homes.
Simple combinations of laddering or choosing payouts as per one's convenience can be a firm source of support for retirees. By investing provident funds into Bajaj Finance Fixed Deposit, senior citizens can not only grow their retirement corpus, but also ensure monthly income to fund their regular expenses. With flexible tenors, ranging from 12 to 60 months, investors can always benefit from easy access to liquidity.
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