Bajaj Finance is one of the leading NBFCs in India that offers a wide array of financial products and services. The fixed deposit plan offered by Bajaj Finance is popular across the country due to the high interest rates and interesting investment options associated with it. The FD interest rate of 7.05 % is one of the best FD interest rates in the market currently. One must invest in this FD scheme due to these reasons:
Assurance of higher returns
Bank FDs are offering FD rates of up to 5% whereas post office FD rates are up to 6.70%. The FD rates offered by Bajaj Finance FD are high throughout the tenor. On the other hand, post office FDs offer tenor options that are limited to 1, 2, 3, and 5 year FD plans. Also, the high FD interest rate is applicable only on the 5-year post office FD.
For example, on investing Rs. 15,00,000 for 3 years, the bank, post office, and Bajaj Finance FD will fetch the following returns:
FD plan
Amount
Interest Rate
Tenor
Interest Gains
Maturity Amount
Bank FD
Rs. 15,00,000
5%
3 years
Rs. 2,41,132
Rs. 17,41,132
Post Office FD
Rs. 15,00,000
5.5%
3 years
Rs. 2,67,102
Rs. 17,67,102
Bajaj Finance FD
Rs. 15,00,000
7.05%
3 years
Rs. 3,40,142
Rs. 18,40,142
Also, the tenor for your deposits can be anywhere between 12 and 60 months when you open a fixed deposit account with Bajaj Finance. The tenor range and FD types along with the applicable interest rates are given in the below table:
Tenor Range (in months)
Cumulative FD rates
FDs with monthly interest payout
FDs with Quarterly interest payout
FDs with Bi-annual interest payout
FDs with yearly interest payout
12-23
5.65%
5.51%
5.53%
5.57%
5.65%
24-35
6.40%
6.22%
6.25%
6.30%
6.40%
36-60
6.80%
6.60%
6.63%
6.69%
6.80%
Senior citizens get a 0.25% higher interest rate than others. This helps them earn a higher interest that eventually maximises the FD returns.
Periodic interest payouts
Bajaj Finance FD covers your regular expenses by allowing you to select from monthly, yearly, 3-monthly, and 6-monthly interest payouts. Invest in cumulative FDs if you don’t need extra funds to manage your expenses. Cumulative FDs facilitate faster compounding as the interest gets included in the principal for all the subsequent interest calculation cycles after the first one. You also have the option to set your deposits on auto-renewal for seamless compounding of returns.
Safe investment option
Bajaj Finance FD provides maximum safety for the invested capital by protecting the interest gains from market fluctuations. It means that your capital will not be affected by the change in the market conditions as a fixed FD interest rate is offered throughout the FD tenor. Moreover, the high credit ratings of FAAA/stable and MAAA/stable provided by CRISIL and ICRA respectively confirm that Bajaj Finance FD is a risk-free instrument to multiply savings.
Multi-deposit facility
With the multi-deposit facility, Bajaj Finance FD lets you invest in more than one FD without any fuss. The interest payout frequencies, tenor, and amount can vary for each FD. Also, the payment for all the deposits can be furnished at once. Therefore, laddering FDs for better liquidity options is much more convenient with this FD scheme.
Apart from these user-friendly and lucrative features, Bajaj Finance FD also provides a seamless withdrawal process and an opportunity to start investing with just Rs. 25,000 in FDs.
