Parking a bulk aggregate in an FD is considered among the most feasible ways to start an investment venture. Its popularity emerges from the assured steady growth in savings along with the stability and security of the invested amount. It also offers depositors the provision of choosing a tenor according to their financial requirements; which usually stretches from 12 to 60 months.
As per reports provided by the Times of India, there is a significant rise in the number of FD account holders in India. The primary reason behind this is the high interest rate offered, among which senior citizens own the most number of accounts.
NBFCs like Bajaj Finance offer Bajaj Fixed Deposit that acknowledges the faith and trust of investors through stability ratings. For investors above 60 years of age, they provide higher interest rates, making them attractive investment options for retirees as well. These features are exclusively incorporated to help elderly citizens avoid mistakes that can throw their investments off-track and allow a steady growth of their invested corpus.
Reasons to invest in Bajaj Finance Fixed Deposits
Higher interest rates for senior citizens
Senior citizens willing to invest in Bajaj Fixed Deposit can receive an added interest of 0.35% on the prevailing interest rate for regular FDs. It leads to a steady growth on the corpus with higher returns at the end of the term. Bajaj Finance FD also facilitates periodic payouts of interest earned to provide a monthly source of income to the senior citizens. Senior citizens can thus go for FD to invest and plan their post-retirement life accordingly.Assured trustworthiness with the highest stability ratings
Bajaj Fixed Deposit is the only FD scheme that has achieved an international rating of ‘BBB’ by S&P Global. It also brings other security ratings that ensure stable and assured returns. Bajaj Finance Fixed Deposit has the highest stability ratings conferred from CRISIL andICRA as well.Easy payment options
For the convenience of investors, the NBFC has also introduced the feature of investing in fixed deposit through debit cards for select locations.An easy online application process
The financers ensure a hassle-free investment experience for the investors through a simplified application process that saves time. You can apply for FD through online methods minus the usual tiring procedures and long waiting in queues.Flexible tenors
With Bajaj Fixed Deposit, an investor can choose from available tenors for deposit maturity. It thus allows a depositor to gauge his/her financial needs and select a tenor considering the financial requirements. The term of the deposit usually ranges in between 12 months to 60 months.Loan against fixed deposit
To meet unprecedented financial crisis or emergencies, investors can opt for a loan against the deposited amount instead of liquidating the account. A depositor can take a loan of up to Rs. 4 Lakh and meet his/her funding requirements with ease.Thus, venturing out to invest with Bajaj Finance is a prudent way of parking your savings as it offers benefits that are not influenced by market risks. Individuals can thus invest for higher returns on fixed deposits. NRIs willing to invest in these schemes must meet additional requirements as well.
