fixed deposit

How to Grow your Savings with Bajaj Finance Fixed Deposit?

Before investing in financial instruments that can help you earn money, you should learn how to invest money for your future. Fixed deposits might seem to be the most convincing option in today’s times due to the predetermined rate of returns they offer. 

However, the most important thing is the interest rate at which your deposits will attract interest as your returns depend completely on the interest capitalized by your deposits. To provide a high interest-earning opportunity to investors, Bajaj Finance FD provides an FD interest rate of up to 6.75%. Along with the high-interest rate, you can utilize these options to grow your savings smoothly throughout the FD tenor:

Online Investment

By providing the option of easy online investment through an online FD form, Bajaj Finance FD has made investing in fixed deposits simpler. The online investment procedure is especially popular among millennials because it not only helps them invest easily but they also get a 0.10% higher FD rate. 

On the other hand, senior citizens can grow their savings at a 0.25% higher interest rate irrespective of the mode of investment they choose. 

Invest in Cumulative FDs

Investing in Bajaj Finance cumulative FDs can be the best way to accelerate your savings without any obstruction. This is because the interest generated after every cycle is added to the principal and the total amount is taken to be the principal for the next interest calculation cycle. As a result, your interest earnings get compounded and you receive a hefty sum as returns once your deposits mature

However, you can prefer investing in the Bajaj Finance non-cumulative FD if you need a monthly income to stabilize your finances. The monthly, yearly, six-monthly, and quarterly interest payout options provided by Bajaj Finance FD lets you choose a periodic interest payout that can assist your expenditure. For example, you invest Rs. 40,00,000 in a Bajaj Finance non-cumulative FD for 5 years. The below table will show the interest payout options that you will get:

Interest payout options  Generated interest 
Monthly  Rs. 21,833
Quarterly Rs. 65,900
Six-monthly Rs. 1,32,800
Yearly  Rs. 2,70,000

Grow Your Savings with Monthly Deposits

Everyone can’t invest a huge chunk of money in one go. Also, if you have just joined a job then it will not be possible for you to collect a huge corpus immediately. However, you need not worry as you can start gathering money by investing in a Systematic Deposit Plan from Bajaj Finance. Your monthly deposits can start from Rs. 5000 and the number of deposits and lock-in period for each deposit will vary as per the SDP variant chosen by you. 

With the Single Maturity Scheme, you can withdraw all your deposits on a single day whereas the Monthly Maturity Scheme lets you choose a tenor of up to 60 months for each of your deposits. Your deposits will be treated as individual FDs and they will attract interest as per the FD interest rate that Bajaj Finance FD offers. 

After maturity, you can reinvest your returns in another SDP or divert them in a high-paying FD like Bajaj Finance FD. Therefore, it proves to be the best monthly saving scheme for everyone. 

Stable Investment

Both Bajaj Finance FD and SDP have been acclaimed to be stable investment options by credit rating institutions like CRISIL and ICRA. Therefore, you can now grow your savings without getting bothered by market fluctuations. 

For choosing an FD plan and tenor that complement your investment needs, you can use the online FD calculator. With the help of this online tool, customizing an FD as per your investment needs becomes easy.

Leave a Comment

Your email address will not be published.