Traditionally, investors in India have relied on fixed deposits for capital preservation and appreciation over several years (or even decades). Unlike high-risk investment instruments like mutual funds, fixed deposits do not invest in market-linked instruments, guaranteeing capital safety and stability.
This festive season, you can park your Diwali bonus or your corpus in a Bajaj Finance Digital FD to meet long-term objectives or goals. Dussehra and Diwali are auspicious occasions to start new investments. With Bajaj Finance offering highest interest rate of up to 8.65% p.a. on its FD, you can maximise your savings to fulfil your goals. To book a new FD, all you need to do is visit the Bajaj Finserv website or download the Bajaj Finserv App.
Flexibility and convenience offered by Bajaj Finance FDs
For decades, fixed deposits served as safe investment vehicles for conservative investors prioritising capital safety over significant returns. While FDs are still the go-to investment option for risk-averse investors, Bajaj Finance Digital FDs provide high interest rates, along with flexible tenures and customisation options.
For example, investors looking for a regular source of income can opt for a non-cumulative FD, which offers periodic interest payouts. This allows investors to choose the payout frequency (monthly, quarterly, semi-annually, and annually) based on their financial requirements. Additionally, using the interest payout, you can purchase your desired product by visiting Bajaj Mall.
On the other hand, senior citizens get higher interest rates. For a period of 42 months, they receive an interest rate of up to 8.65% p.a. Investors under the age of 60 can get interest rates up to 8.40% p.a. for the same period, helping them save a significant amount of money for their long-term goals.
Features of Bajaj Finance Fixed Deposit
- Four variants: Bajaj Finance FDs come in four variants, catering to varied investor requirements. These include Bajaj Finance Digital FDs, term deposits, Systematic Deposit Plan – Single Maturity Scheme (SMS), and Systematic Deposit Plan – Monthly Maturity Scheme (MMS).
- Ease of investment: You can book a new FD through the Bajaj Finserv App or by visiting the Bajaj Finserv website. This end-to-end online process eliminates the need to visit your branch and streamlines the entire process.
- Safety: Bajaj Finance Fixed Deposit come with the highest safety ratings (AAA/Stable by CRISIL and AAA/Stable by ICRA). This ensures the utmost safety and stability of your investments.
- Special tenures: Investors can benefit from higher FD interest rates for special tenures.
- Flexibility: With tenures ranging from 12 to 60 months, you can choose a duration that caters to your needs. Furthermore, you can choose between cumulative and non-cumulative FDs based on your financial requirements. The payout frequency can be monthly, quarterly, half-yearly, and yearly.
- Loan against FD: If, for any unforeseen reasons, you need urgent funds, you can opt for a loan against your fixed deposit (LAFD). You can get up to 75% of your invested amount in case of a cumulative FD and up to 60% in case of a non-cumulative FD.
How to maximise your savings through Bajaj Finance FDs
Another important factor you need to consider while investing in a Bajaj Finance FD is the investment amount and tenure. As already mentioned, you can benefit from higher interest rates by choosing special tenures. Let us take a quick look at how these tenures can make a significant difference.
Let us assume you want to invest Rs. 10 lakh in a Bajaj Finance FD (cumulative FD). You are considering tenures of 22 months, 24 months, 33 months, 35 months, 42 months, and 44 months.
For investors below 60, the maturity payouts for the chosen tenures will be as follows:
| Investment/Tenure | 22 months | 24 months | 33 months | 35 months | 42 months | 44 months |
| Interest rate (%) | 7.90 p.a. | 7.80 p.a. | 8.10 p.a. | 7.80 p.a. | 8.40 p.a. | 8.25 p.a. |
| Maturity amount (Rs.) | 11,49,580 | 11,62,084 | 12,38,856 | 12,44,910 | 13,26,180 | 13,37,321 |
As you can see from the above table, different tenures with varying interest rates yield different maturity amounts. Thus, it is important that you carefully consider the investment tenure to maximise your savings while investing in a fixed deposit.
Conclusion
Fixed deposits are the ideal investment vehicles to meet mid- to long-term financial objectives. For example, if you wish to shop for a product on Bajaj Mall over the next 12-18 months, you can start saving by putting the funds in a Bajaj Finance FD and choosing the ideal investment duration. This allows the amount to grow over the chosen period, and you won’t have to worry about market downturns affecting your investment amount.
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