A fixed deposit account is one of the most preferred financial instruments among investors across all age and income groups. When you decide to put your money in a FD, it is always recommended that you compare interest rates and features of bank FDs with company FDs. These days, company FDs like that from Bajaj Finance are becoming quite popular due to their advantages over bank FDs.
Let’s take a look at the benefits you can enjoy by investing in a Bajaj Finance FD:
High Interest Rate
Bajaj Finance offers interest rate up to 7.85% which is one of the best among all FD issuers. In the current scenario when Bank FD interest rates are falling due to the recessionary trends in the economy, Bajaj Finance FD is a rewarding investment choice with one of the highest FD rates in India.
Safety
Bajaj Finance fixed deposit account has been accredited with the highest stability ratings by India’s top credit rating agencies ICRA and CRISIL. Moreover, Bajaj Finance is the only Indian NBFC which has been awarded international rating ‘BBB’ by S&P Global Bajaj. So, your investment is risk-free and returns are assured.
Periodic Payouts
With Bajaj Finance FD, you have two options:
Cumulative FD: Here, the interest rate is reinvested on the principal amount every year. This is a good option to build a corpus.
Non-Cumulative FD: Here, you can avail monthly, quarterly, half-yearly or yearly as per your financial requirements. This is a good option if you are a senior citizen or need regular income.
Bajaj Finance FD calculator monthly interest is a useful tool to calculate your returns, interest payouts and maturity amount beforehand.
Systematic Deposit Plan (SDP)
A unique feature of Bajaj Finance FD, SDP enables you to make 6-48 small monthly deposits for 12-60 months tenor. Each small FD is treated as a standalone deposit. When you have a limited FD budget, this feature is ideal for you.
Multi Deposit Facility
You can ladder your investments in multiple FDs of varying tenor and maturity instead of putting the entire lump sum amount in a single FD. When you need emergency cash, you need to break only one FD while letting other FDs earn income.
Other Benefits
Bajaj Finance FD also offers you other benefits such as 100% online application, auto-renewal and loan against FD.
A tax saving FD has a lock-in period of five years. You cannot withdraw it prematurely in case of emergencies. Bajaj Finance FD has no such condition – you can encash it before maturity with a small penalty. If you want to save tax on Bajaj Finance FD, you can claim TDS deduction by filing up the Form 15G/15H as applicable to your income tax bracket.
Bajaj Finance fixed deposit account is a good option for new investors looking for high returns, safety and value-added features all rolled into one. With a high interest rate up to 7.85% along with high stability and credibility ratings, it is a rewarding fixed income instrument in today’s volatile market conditions. It also allows premature withdrawal which is not possible in a tax saving FD which has a lock-in period of five years. Bajaj Finance FD also offers many other benefits such as Systematic Deposit Plan, multi deposit facility, online calculator, online application, auto-renewal and loan against FD.
