Online Fixed Deposit With Bajaj Finance: Play It Smart When FD Interest Rates Fall

  • by NewsOnFloor Staff
  • Aug 06, 2019
  • 52 views


The Reserve Bank of India (RBI) has reduced the repo rate by 75 basis points in the past 6 months and is expected to deliver a fourth consecutive rate cut of 25 basis points on August 7, 2019. This will take the cumulative rate reduction to 100 basis points, bringing down the repo rate to 5.50%. With the previous rate cuts, several financiers reduced their FD interest rates, and the expected cut in August is likely to reduce these interest rates furthermore.
 
On the other hand, the stock market is on an all-time low, with market volatility being high. Investors are hence, looking for fixed-income investment instruments that guarantee high and stable returns. Fixed deposits are preferred investment options to help investors manage higher returns, while keeping risks within check. For investors seeking high FD interest rates with hassle-free investment processes, Bajaj Finance Fixed Deposit is the most preferred investment option.
 
Invest online in Bajaj Finance FD
Whether you’re a first-jobber testing the waters when it comes to investments or a seasoned investor managing multiple instruments, the ease and convenience of investing online within minutes is preferred to tedious paperwork or long-drawn onboarding process.

To address this need efficiently, Bajaj Finance Fixed Deposit offers an online investment process, wherein you can invest within minutes. By offering you the facility to start investing online without having to visit a branch, Bajaj Finance uncomplicates starting and building an investment habit for its existing customers.
 
End-to-end online transaction for existing customers
Apart from initiating the investment process online, existing customers can reap the benefits of an end-to-end online paperless process, where you can invest in FD online. You can invest on the go, whether you’re at work or at home; and there’s no need to submit any documents. Simply fill in your details, and get started with your investment.
 
New customers can apply for an FD online and request a callback. You can then avail doorstep facilities, which make it very easy for you to start investing and growing your savings easily.

Not only does Bajaj Finance make investing in an FD as easy as shopping online, but it also offers a bouquet of other features that make it an investment worth its weight in gold. Take a look at these benefits.
 
High interest rate and flexible tenor: Bajaj Finance offers some of the best FD interest rates in the country, of up to 8.95%, when you take an FD for at least 36 months where interest is payable at maturity. While senior citizens get 8.95% for such an FD, regular investors get 8.60%. Moreover, you have complete flexibility with regards to the tenor of investment. Depending on the nature of your goals you can invest for 12 to 60 months.
 
Take a look at what these returns translate into below.
 

Deposit amount
(in Rs.)
Tenor
(in years)
Interest rate
(in %)
Interest earned
(in Rs.)
Maturity amount
(in Rs.)
Growth of capital
(in %)
5,00,000 5 8.60 2,55,299 7,55,299 51
5,00,000 5 8.95 2,67,549 7,67,549 53.5
 
Highest credibility rating: Bajaj Finance Fixed Deposit has the highest credibility ratings of FAAA by CRISIL and MAAA by ICRA, which make it one of the safest investment options. With a book size of nearly 15000 crores and a clientele of more than 1.5 lakh happy FD customers, Bajaj Finance FD is your safest bet to get guaranteed returns.
 
Value-added features: To make investing as simple as can be, Bajaj Finance has facilities such as multi-deposit and auto-renewal. The former allows you to start multiple FDs with varying amounts, tenors and payout frequencies by paying a lump sum amount through 1 cheque, while the auto-renewal facility helps you reap richer returns.

You can opt for this facility when applying for your FD and at the time of renewal, you don’t have to fill and submit any additional paperwork. Moreover, you also get an extra 0.10% interest when you renew your FD. Take a look at how this impacts your wealth’s growth.
 
Continuing with the previous example, assume that you re-invest your returns of Rs. 7,55,299 for a tenor of 3 years. You will gain an additional interest rate of 0.10%. Here is what your returns will be.
 
Deposit amount
(in Rs.)
Tenor
(in years)
Interest rate
(in %)
Interest earned
(in Rs.)
Maturity amount
(in Rs.)
7,55,299 3 8.70 2,14,781 9,70,080
 
To further enhance ease of investment, Bajaj Finance also allows you to invest via a debit card at select locations. Additionally, features like a loan against FD of up to Rs. 4 lakh and online investment management make this the perfect vehicle if you’re looking for an investment that’s simple but doesn’t compromise on returns. If you’re an existing Bajaj Finance customer, make the most of the online FD facility and apply right away.


Source : business-wire-india

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