Setting up an amount for Fixed Deposit is imperative to develop a strong investment portfolio. It is a failsafe strategy that guarantees steady growth irrespective of volatile market conditions. Investing with Bajaj Finance entitles you to several key benefits.
The leading financial service provider assures complete peace of mind that comes with the credibility of the best industry standards. The company has the highest stability scores with CRISIL’s FAAA/Stable rating and ICRA’s MAAA (stable) rating.
High-Interest Rates
Bajaj Finance strives to be among the best-in-class interest rate providers. Non-senior citizens can gain from an interest rate that stretches up to 7.00 % depending on your tenure. Senior citizens can avail of a further enhancement of 0.25 %, taking the total rate to 6.75 %.
Opening an account is super simple. You can conveniently go for a Bajaj Finance online FD account. The end-to-end paperless process is manageable in a matter of minutes. Furthermore, non-senior citizens can benefit from an additional interest rate of 0.10 % for opening an online account.
Convenient Tenures
The flexible tenures range from 12 to 60 months. You can also choose the auto-renewal facility at the end of the duration. It not only saves you the hassles of additional paperwork, but also entitles you to a rate benefit of 0.10 % over the original applicable interest rate.
In the case of online renewal, the extension of rate benefit will only consist of 0.10 %. The provisioning of substantial FD interest rates accounts for the fact why Bajaj Finance has the trust of hundreds and thousands of investors.
Even Non-Resident Indians can choose to open an FD account with Bajaj Finance. The eligibility status also extends to People of Indian Origin and Overseas Citizens of India. The only limitation for them is in the tenure period, which has to between 12 and 36 months. By using the online fixed deposit calculator, you can easily decide on the particulars of making your investment.
Ease of Payout
The flexibility entitled in the Bajaj Finance FD plan also extends to the payout options. You can choose between the cumulative and the non-cumulative payout at maturity. For the former scenario, the interest is payable at maturity. According to the non-cumulative scheme, you can choose from different payout options. The interest would be payable by monthly, quarterly, half-yearly, or annual basis.
The FD calculator provides the compounded interest calculations for both cumulative and non-cumulative payouts. This invariably helps the investor to decide on the most suitable option according to personal preferences.
Easy Loan Facility
You can also go for premature withdrawals to meet urgent financial requirements. In that case, you would have to agree to a financial penalty levied in the form of loss of interest. For early withdrawals, the interest rate at that given point of time will be applicable. You would forfeit the benefits entitled to the original interest rate at the beginning of the plan.
Nevertheless, account holders can still avoid this loss of interest by applying for an easy online loan against the FD amount. Do note that the total loan amount cannot be greater than 75 % of the total FD amount.
Benefits of SDP
Investors can also select the Systematic Deposit Plan (SDP). Usually, the minimum amount you can deposit is Rs. 25,000. However, according to the SDP, you can make monthly installment deposits starting from a minimum amount of Rs. 5000.
The SDP entitles investors to two different payout options. You can either choose the Monthly Maturity Scheme or go for the Single Maturity Scheme. According to the first arrangement, the maturity dates for successive deposits are different, according to the selected tenure. With the Single Maturity Scheme, the total amount is payable on a single date.
Bajaj Finance Fixed Deposit offers substantial opportunities for growth. Over 2,35,000 investors trust the leading company to keep their wealth safe and growing over time. The total deposit book of the Bajaj Finance FD account stands at over an overwhelming Rs. 20,000 Crore.