Get 2x your money in just 5 years with 51% return on investment with Bajaj Finance FD. According to the latest reports from the Reserve Bank of India, the share of fixed deposits stands strong at 57.7% in 2017-18. Much of this exponential growth can be attributed to the financial tendency of Indians to earn a return on their surplus cash sans taking any substantial risk to generate the returns. Consequently, finance companies now offer their fixed deposits that fetch assured and higher returns on the corpus.
Fixed deposits or terms deposits offer its account holders with the flexibility to choose a tenor that best suits their financial needs and generate returns on the investment made accordingly. Potential account holders continue to shop around for deposits that render the highest return. Fixed Deposits such as the Bajaj Finance FD offers –
- Certified stability of the corpus.
- Attractive FD ROI (rate of interest.)
This competitive interest rate contributes to this deposit being considered for high return investments. In this regard, individuals can render up to 1.5 times the corpus with an investment tenor of 60 months.
For example,
Let’s say you provide a corpus of Rs. 10 Lakh at the offered rate of interest of –
- 8.70% in the case of senior citizens
The interest payout is Rs. 5,17,566 and the maturity amount is Rs. 15,17,566.
- 8.45% in the case of existing clients
The interest payout is Rs. 5,00,195 and maturity amount is Rs. 15,00,195.
- 8.35% in the case of new customers
The interest payout is Rs. 4,93,291 and the maturity amount is Rs. 14,93,291.
This increase in the corpus via the Bajaj Finance FD can be computed with their FD calculator. It is especially beneficial considering that understanding fixed deposit investments in their cumulative or non-cumulative form involves complicated calculations of compound interest. Such convenient financial tools ensure that you can decide upon the tenor and periodic payout span. These calculators play a vital role in helping investors plan their finances better.
Following up with the introduction of such convenient financial tools to calculate your maturity amount is the host of features of the Bajaj Finance FD.
Added benefits of the Bajaj Finance Fixed Deposit
Irrespective of whether an individual is working or approaching retirement, it is ideally imperative to look into ways to strengthen their finances. Reiterating this objective, are fixed deposits that aid in the financial planning of individuals.
With Fixed Deposits from reputed financial companies like Bajaj Finance, individuals can enjoy the benefits of multiple lucrative features that include.
A wide range of lock-in period:
The lock-in period in case of fixed deposits range between 1 to 5 years and is coupled with an option of premature withdrawal of funds.
Laddering of investment:
Individuals can opt for multiple simultaneous fixed deposits with maturity tenors for successive payouts.
Stability of the corpus:
With an international rating of ‘BBB’ by S&P Global, highest stability ratings with ICRA’s MAAA rating and CRISIL’s FAAA stability rating, your corpus is never at risk with fixed deposits.
Minimum deposit amount:
The nominal investment amount is fixed at Rs. 25,000 only that makes it easier to invest without having to wait to accumulate a substantial corpus.
Age limitations to open an account:
To ensure that all have access to these high return investments, the opening of this account is not restricted by any age limitations.
Availability of advances against FDs:
With a Bajaj Finance Loan Against FD, individuals have convenient access to considerable funding. It eradicates the need to liquidate their savings. The loan amount is maxed at Rs. 4 Lakh and can be used to fund multiple emergency expenses.
Multi-deposit facilities:
Keeping in mind the convenience of potential account holders, the NBFC offers multiple modes of deposit as well as investment in numerous deposits via single cheque payments. Such deposits can be conditioned by variations in tenor and interest payment frequencies. In case you require urgent funds, you can opt for premature withdrawal from a single deposit and continue generating returns on the others.
Therefore, while higher returns with the Bajaj Finance Fixed Deposit are an attractive feature; it is accompanied by multiple other lucrative benefits as well. With options to calculate the maturity amount, periodic pay-outs, etc., this investment is the most preferred to grow on your savings with low to no risk involved.