Just like the festival of Holi celebrates life in its diverse forms, it is prudent to diversify your investment portfolio as well by investing in instruments like fixed deposit that offer high yields along with safety. While the festival is about a riot of colours, it also marks the beginning of spring.
A new season translates into a fresh slate and you can make the most of it by investing in a safe option like Bajaj Finance Fixed Deposit. However, since investing in FD is a financial commitment, it is advisable to know of the benefits in store before you invest.
Read on to know how you can enrich your portfolio with Bajaj Finance Fixed Deposit.
Attractiverate of interest
Bajaj Finance allows you start investing with a minimum deposit of only Rs.25,000 and offers competitive FD interest rates, up to 7.80% for regular investors, 7.90% for existing Bajaj Finance customers, and 8.05% for senior citizens.These rates outshine most offerings in the market and can be a great way to grow your wealthin the new financial year.
Also, because January’s retail inflation was pegged at 7.59%, investing is crucialto maintain your financial wellbeing. Additionally, with a potential RBI repo rate cut in June 2020, now’s the best time to invest to benefit from current rates.
Flexible tenor
After assessing your short- and long-term goals, the next step is deciding on a tenor. With Bajaj Finance, you can opt for a tenor ranging from 12 to 60 monthsto achieve timely liquidity. To forecast your earnings, use FD calculator as it showcases accurate results instantaneously. All you need to do is enter the necessary parameters or use the slider to input figures of your choice.
To better understand how much you can potentially earn as a new customer, consider the following example, where you invest Rs. 3,00,000 for different tenors, with varying interest rates.
| Deposit amount (in Rs.) | Rate of interest (in %) | Tenor (in months) | Interest payout (in Rs.) | Maturity amount (in Rs,) |
| 3,00,000 | 7.65 | 24 | 47,656 | 3,47,656 |
| 3,00,000 | 7.70 | 36 | 74,773 | 3,74,773 |
| 3,00,000 | 7.80 | 48 | 1,05,131 | 4,05,131 |
It is worth mentioning that one way to benefit from the flexible tenor provision is to use the Multi-Deposit facility. It allows you to meet various goals by investing in several deposits, all with different tenors, payout frequencies and amounts, via a single cheque.
Highest stability and credibility ratings
On the whole, the Bajaj Finance FD is a credible investment as it carries some of the highest ratings for stability. It has both, the ICRA ‘MAAA’ and CRISIL ‘FAAA’ rating, indicating that your investment is sure to deliver at maturity. Also, Bajaj Finance holds an international ‘BBB’ rating from S&P Global and prides itself on being the only Indian NBFC to have secured it. These ratings from top agencies indicate that your investment is virtually risk-free.This is an important factor to evaluate in an economy that’s no stranger to defaults.
Monthly FDs with Systematic Deposit Plan
If the idea of making a large lump sum investment doesn’t appeal to you, then you should consider a Systematic Deposit Plan. Here, you make small monthly contributions of Rs.5,000 or more and each one is treated as a separate FD. You can make between 6 and 48 deposits and pick a tenor ranging between 12 and 60 months. The deposits earn interest as per the rates prevalent on the date that the deposit is made.
Easy Loan against Fixed Deposit
Bajaj Finance ensures that you are financially stable even when strapped for cash. You can get an online loan of up to 75% of your FD’s value when faced with a short-term financing need. So, should you invest in this FD this Holi, you will only be able to work towards wealth generation, but also have quick access to funding in emergencies.
This Holi,usher in financial stability and add colour to your portfolio with a Bajaj Finance FD. Additionally,remember to opt for the Auto-Renewal feature to automatically renew your FD on maturity and take advantage of the additional interest rate of 0.10% on renewing. To book a Bajaj Finance Online FD,enter basic details into a form and await a call from an authorised representative.
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