Investing your savings in a stable financial tool is crucial for wealth creation and growth. The generated corpus can be used for a variety of reasons, such as, saving for retirement, saving for a down payment, creating an emergency fund or fulfilling some specific obligations such as repayment of loans, payment of school fees or the purchase of other assets.
Protecting your investments from unprecedented and volatile market movements is equally important, financial instruments that are not affected by market fluctuations guarantee the safety of your deposit and your returns. Fixed deposit and savings accounts, being secure investment platforms, both offer the investor the opportunity to earn decent fixed returns no matter how turbulent the market conditions may be.
Generally, these regular investments do not generate impressive returns. Bajaj Finance Online Fixed Deposit is an ideal investment option, if one is aiming for the perfect combination of high FD interest rates and deposit security.
With Bajaj Finance online FD, you can build a corpus without exposing savings to the vagaries of market movements.
The table below shows some major differences between a savings account and Bajaj Finance FD:
In the table above, you can see that Bajaj Finance FD offers you the opportunity to invest your savings for a fixed term at an impressive price. FD rate. The Fixed Deposit Calculator available on the Bajaj Finserv website provides you with your estimated returns to maturity even before you choose to invest. Therefore, you can better plan your financial goals and expenses with this online tool.
Other advantages of investing in a Bajaj Finance online FD are listed below:
High FD interest rates
A savings account offers lower returns for the same deposit, amount and duration compared to a fixed deposit, because the former is calculated using the simple interest formula, giving returns only on the principal amount. On the other hand, the interest earned through an FD is higher because it is calculated using the compound interest formula.
Bajaj Online Finance FD offers high FD interest rates up to 6.75% for seniors regardless of their mode of investment and interest rates up to 6.60% for non-seniors investing online.
Loan against FD
Financiers like Bajaj Finance also allow you to apply for an unsecured loan against your FD, a provision not offered by savings accounts. The loan amount against fixed deposits offered by Bajaj Finance can be up to 75% of the FD value. Therefore, provide cash when you need it most.
Easy online investment process
An end-to-end online process adopted by Bajaj Online Finance FD allows you to benefit from the contactless investment procedure. You can also get an additional 0.10% rate advantage for booking online!
High credit ratings given by credit rating agencies like CRISIL and ICRA establish how safe it is to deposit in the FD plans provided by Bajaj Finance.
Therefore, you can easily invest in a Bajaj Finance online FD without having to worry about returns, defaults or unexpected interest payments.
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