Moneycontrol PRO
UPCOMING EVENT:Attend Traders Carnival Live. 3 days 12 sessions at Rs.1599/-, exclusive for Moneycontrol Pro subscribers. Register now!

5 reasons to invest in Bajaj Finance FD that offers high interest rates

A recent study found that more than 95% of Indians preferred investing in fixed deposits over mutual funds and stocks

September 14, 2021 / 05:29 PM IST

In the current economic condition, it is wise to find ways to increase your wealth. Fluctuating markets coupled with unsteady inflation can quickly exhaust your savings if not dealt with properly. However, intelligent investing can work effectively if you avoid high-risk options. Thus, for risk-free investments, fixed deposits are the perfect fit.

A recent study found that more than 95% of Indians preferred investing in fixed deposits over mutual funds and stocks. To ensure good returns, it is important that you pick the right issuer for your fixed deposit.

Bajaj Finserv Fixed Deposit is an excellent option to consider, as it not only guarantees returns but also has myriad benefits on offer. Read on to know what makes it one of the safest investment options and why you should invest in it.

1. Has the highest ICRA and CRISIL ratings

The Investment Information and Credit Rating Agency (ICRA) has credited Bajaj Finance FD with the highest quality credit rating of MAAA. This rating guides and helps investors to make informed decisions by promoting transparency in financial markets. As per this rating by ICRA, this FD is both a stable and safe instrument to invest in.

Bajaj Finance Fixed Deposit also has the FAAA (stable) rating from CRISIL. This is another rating that speaks for the safety of this instrument. It serves as a benchmark for investors looking for lucrative options that can promise returns. Both ICRA and CRISIL are leading credit rating agencies, and combining these two ratings, it is clear that this FD is one of the safest options in the market. You are guaranteed timely interest payouts, and you don’t need to worry about returns or defaults.

2. Offers attractive FD rates for all

Corporate fixed deposits generally offer higher fixed deposit interest rates, and Bajaj Finance extends this benefit to you. You can invest your money over a flexible period of 12 months to 60 months and get an interest rate of up to 6.50%. You also get an additional interest benefit of 0.10% over the base rate for applying online.

Effectively, you can get an interest rate of up to 6.60% on an FD of at least 36 months. This is much higher than many other FDs available, which offer interest rates between the 5% and 6% mark. Senior citizens get an additional 0.25% on the base rate to add further value to the offering. Meaning, you can book an FD of at least 36 months and get an interest rate of 6.75%.

For a more detailed understanding of this benefit, consider the following table. Here are expected returns for different investor types on an FD of Rs. 2 lakh over a maturity period of 48 months.
Investor typeRate of interestInterest earnedMaturity amount
Non-senior citizen investing offline6.50%

Rs. 57,293

 

Rs. 2,57,293

 
Non-senior citizen investing online6.60%

Rs. 58,261

 

Rs. 2,58,261

 
Senior citizen6.75%

Rs. 59,718

 
Rs. 2,59,718

3. Offers the benefit of the Systematic Deposit Plan

During uncertain market conditions, you may not want to commit to a lump sum investment. In such cases, you can opt for the Bajaj Finance Systematic Deposit Plan to make monthly contributions, like you would with an SIP. However, the difference here is that you are investing in a new Bajaj Finance FD every month. As such, you get the safety and security benefits that come with it.

Through the SDP feature, you can start investing with a minimum monthly contribution of Rs. 5,000. Depending on your investment goals, you can opt for the single maturity scheme or the monthly maturity scheme. In the first case, all your maturity proceeds on a fixed date. This is ideal for building a large corpus over a period of time. In this case, the tenor ranges from 19 months to 60 months, and you can make 6 to 47 deposits.

With the monthly maturity scheme, you get maturity proceeds every month. The amount you get is based on the monthly contribution amount and the tenor you choose, ranging between 12 to 60 months. In this case, you can choose to make anywhere between 6 and 48 deposits.

4. Allows you to invest online safely

Bajaj Finance provides you with the luxury of investing online, a safe and secure method of parking your money in an FD. The end-to-end online fixed deposit process covers every step, including payment, through secured portals like Net Banking and UPI. 

5. Provides an online loan against the FD

You can also avail of an online loan against your Bajaj Finance FD. This comes in handy during an emergency, as you don’t have to withdraw your investment prematurely. You can get up to 75% of the invested amount, and the FD will continue to accrue interest while you repay the loan.

When it comes to picking a safe investment, you can’t go wrong with the Bajaj Finance Fixed Deposit. The high credit ratings are a mark of excellence and stability, which you can rely on without any doubts. So, get started and book your FD online in just a few easy and secure steps.
Moneycontrol journalists were not involved in the creation of the article
first published: Sep 14, 2021 05:29 pm
Sections
ISO 27001 - BSI Assurance Mark