- Investors looking for the best returns in the market with full safety on the principal amount invested should book a Bajaj Finance FD which offers interest rate up to 7.35%
For investors looking at growing their savings in the long run, they need to have the right balance of risks and returns in their investment portfolios. It is known that risk and returns are directly related i.e. higher the risk, the higher are the returns and vice-versa. For investors looking to park away some money with the long-term objective of wealth creation, the two options available are fixed-income investments and market-linked investments. Fixed Deposit offering guaranteed returns and safety of investment are a top pick for investors regardless of the risk type.
When it comes to choosing the right Fixed Deposit for growing one’s savings, a crucial deciding factor is the interest rate offered. At present, NBFCs are offering a higher interest rate on fixed deposit investments as compared to what is offered by banks and post offices. Companies like Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv offer an interest rate of up to 7.35%.
Balancing risk and returns
Even the slightest difference in interest rates can make a huge difference in the long run for those looking to invest their money with the goal of wealth creation. However, when looking for fixed deposits with high-interest rates, safety usually takes a backseat, giving rise to defaults and delays in repayment. Hence, it is important to find a fixed deposit that offers a mix of both i.e. high-interest rates with high safety ratings from renowned credit rating agencies.
Bajaj Finance FD is one such example that is accredited with the highest safety ratings of FAAA (stable) by CRISIL and MAAA by ICRA. The NBFC also claims to have ‘0 unclaimed deposits’ indicating the lengths to which the company goes to repay the depositors. Additionally, before investing with Bajaj Finance Limited, investors can use the FD interest calculator to plan their maturity amount, interest pay-outs from the comfort of their homes.
For investors deciding between investing in company FDs and bank FDs, here’s are a few points to consider:
High-Interest Rate: NBFCs are offering at least 1-2 percent higher rate of interest as compared to that offered by banks. Investors who book a Bajaj Finance online FD, can avail of an interest rate of 7.2 percent while opening an account offline will fetch an interest rate of 7.1 percent. The NBFC offers senior citizens FD interest rates of 7.35 percent (offline and online) for FD schemes.
Flexibility: Flexibility in terms of duration of investment and interest payouts are crucial. Bajaj Finance is offering flexible tenures ranging from 12-60 months on fixed deposits, with a minimum lock-in period of only 3 months. Investors can select from monthly, quarterly, half-yearly and yearly options for interest payouts according to their requirements.
Online Loan against FD: In case of any emergency, investors with Bajaj Finance can withdraw from the fixed deposit, post the initial lock-in period of 3 months. However, they may incur a loss in interest that one could earn. To avoid this, the company is allowing customers to avail of an easy online loan against their FD. It is important to note that the amount of the loan cannot be more than 75 percent of the FD value.
Hassle-free experience: As an existing customer one can simply book a fixed deposit with Bajaj Finance Limited from the comfort of their home. With its end-to-end online application process, customers can skip the lengthy documentation process and long queues. Even new customers can consider applying with Bajaj Finance online FD and opt for doorstep document collection facilities.
That’s not all, along with high-interest rates, convenience, safety and ease of investment NBFCs like Bajaj Finance offer a host of other benefits to customers. Customers can opt for other facilities like monthly savings option with Systematic Deposit Plan or choose the multi-deposit facility to ladder their FDs easily. Besides, customers can opt to auto-renew their deposits and get the additional rate benefit on their deposit. Customers can make a smart choice by booking an FD with Bajaj Finance and watch their wealth grow.