How to grow your savings with Bajaj Finance FD
Bajaj Finance FD offers regular customers an interest rate of up to 8.10%, which goes up to 8.35% for senior citizens.Updated: Jan 27, 2020 11:05 IST
Smart investments can help you secure your future as well as meet your short- and long-term financial goals without hassles. For instance, with sound planning, you can earmark investments for your child’s higher education, a family wedding and build a sizeable retirement fund. This, however, requires good portfolio management. While there are several investment options like fixed deposits, stocks, mutual funds, equities and more, it is advisable to grow your wealth through stable instruments such as Bajaj Finance Fixed Deposit.
To understand further, consider these 5 top reasons to invest your savings in a Bajaj Finance FD.
Get assured returns at competitive interest rates
Bajaj Finance FD offers regular customers an interest rate of up to 8.10%, which goes up to 8.35% for senior citizens. This means that your savings grow steadily and combat inflation as your FDs accrue interest. Moreover, Bajaj Finance FD carries the highest stability and credibility ratings of FAAA by CRISIL and MAAA by ICRA, which are the highest in their respective categories. The combination of generous interest rates and top stability ratings mean that you not only reap attractive yields, but also enable convenient investing.
Choose tenures, as per your convenience
Savings need to be liquid in nature and with a Bajaj Finance FD, you can achieve timely liquidity by opting for a tenure of your choice. You can pick a tenure ranging between 12 and 60 months and this can help you not only grow your savings, but also meet goals such as an impending car purchase with ease. You can plan for the future with accuracy by using the FD calculator to view your total maturity proceeds. Note that interest rates peak for tenures of at least 36 months, with payouts at maturity only.
To get a glimpse of your potential earnings, consider this table.
You can super charge your savings on a monthly basis
Young earners needn’t get intimidated by the minimum deposit amount and can choose to save on a monthly basis as well via a Systematic Deposit Plan. With this unique feature, Bajaj Finance allows you to make minimum monthly deposits of Rs.5,000 for a tenure of your choosing. You can make between 6 and 48 contributions and each of them is considered as a separate FD. The first one must be made via cheque and the rest are automatically debited from your bank account once a NACH mandate is issued.
Consider the table below to understand how you can grow your savings one small step at a time.
Customer type: New Customer
*Figures taken from the SDP calculator
Choose to auto-renew your fixed deposit
Save yourself from the hassle of visiting a physical branch every time your FD is due for renewal by opting for the auto-renewal facility at the time of opening your FD. This facility is designed to automatically renew your FD upon maturity, and apart from keeping you invested for a longer period, it helps you benefit from renewal bonuses and the power of compounding.
Whether you’re a senior citizen or a young professional, you may prefer to allocate part of your savings to a bank account and the other to an FD. With Bajaj Finance, you can start investing by making a deposit of just Rs. 25,000. This way you can grow your savings without hindering your monthly budget in any way.
These 5 top features in combination with provisions such as the multi-deposit facility and loan against FD make the Bajaj Finance FD a truly valuable vehicle to augment your savings reliably. What’s more, you can book a Bajaj Finance online FD from the comfort of your home by filling a simple form. This authorises a representative to get in touch with you and guide you through the application procedure. Once done, you can build your savings steadily in no time at all!
Disclaimer: This content is distributed by Bajaj Finserv. No HT Group journalist is involved in the creation of this content.