For the past few months, the Reserve Bank of India has been taking an accommodating stance to revive the economy and curb inflation. In the last Monetary Policy Meeting, the repo rate was also kept unchanged at 4 percent. While this meant that the interest on fixed deposit wouldn’t touch the highs once observed, fixed deposit continues to remain the preferred investment option for those with long investment horizons, and low-risk appetite.
As we approach 2021, investors of all ages take the learnings of 2020, and most of them are now invested for the long haul. Long-term goals are now the priority, as even those in their mid-to-late 20s want to ensure capital safety and capital appreciation. Unlike mutual fund investments, bank deposits offer assured returns, along with greater investment clarity, high liquidity and flexible tenures.
It is of paramount importance to find the best financier while investing in a fixed deposit. Bajaj Finance online FD is the perfect option for those looking for a combination of security and attractive returns before parking their corpus. Coupled with a secure investment environment, Bajaj Finance FD offers interest of up to 6.85 percent. Another attractive feature of Bajaj Finance FD is that you can now invest from the comfort of your home by investing online, and enjoy a paperless procedure.
As we enter the new year, all of us have resolutions and long-term goals we want to achieve. Here are a few reasons why investing in a Bajaj Finance fixed deposit is a prudent, and astute decision that will bear fruits in the long run.
● Stability and reputation
Checking the credit rating given by reputed rating agencies is the best way to assess the creditworthiness of an institution. Bajaj Finance fixed deposit carries CRISIL's FAAA rating and ICRA's MAAA rating, indicating the highest protection for your capital. Financiers with the highest ratings of stability assure a secure investment environment, and offer returns in a timely manner, without any defaults.
● An excellent investment option for senior citizens
Retired investors need an instrument that yields attractive returns without taking any risks, and this requirement is ably met by the Bajaj Finance fixed deposit. Not only do senior citizens with pay-outs at maturity get FD interest rates of up to 6.85 percent on an FD taken for at least 3 years, they also get flexibility with respect to pay-outs. Depending upon your needs and requirements, you can opt to take interest payouts on a monthly, quarterly, bi-annual or annual basis. Bajaj Finance Limited has retained the confidence of senior citizens, by providing both attractive returns and protection for their corpus, as more than 90,000 of Bajaj Finance FD customers are senior citizens, contributing to a deposit book of more than Rs. 6,000 crore.
Let us assume that you want to invest Rs. 30,00,000, with tenure options of 3, 4 and 5 years. Here is how much you can earn by investing in a Bajaj Finance FD.
| Fixed deposit type | Investment amount (Rs.) | Investment tenure (years) | Interest rate (%) | Interest payout (Rs.) | Maturity amount (Rs.) |
| Bajaj Finance FD for senior citizens | 30,00,000 | 3 | 6.85 | 6,59,695 | 36,59,695 |
| Bajaj Finance FD for senior citizens | 30,00,000 | 4 | 6.85 | 9,10,384 | 39,10,384 |
| Bajaj Finance FD for senior citizens | 30,00,000 | 5 | 6.85 | 11,78,245 | 41,78,245 |
Note: ROI in the above calculator may vary upto 4 bps with the actual rates offered
Depending on the amount you wish to invest, along with your preferred tenure, you can calculate how much money you can earn by using this FD calculator.
● Access to loan against fixed deposit
You can easily get a loan against the FD when you sign up for a Bajaj Finance FD, to meet urgent financial needs, or if you are facing liquidity crunch.
● Hassle-free investment process
With Bajaj Finance FD, you can be assured of a hassle-free investment process. You can start investing with a lump-sum amount of just Rs. 25,000. Bajaj Finance Limited also offers the Systematic Deposit Plan (SDP) for frequent savers, who find it difficult to collect higher capital for investing in an FD. With SDP, you can start investing on a monthly basis with just Rs. 5,000 per month. Furthermore, you can either opt for a Monthly Maturity Scheme, or a Single Maturity Scheme that lets you collect a lump-sum amount at the time of maturity.
● Taxation benefits
Although the income gained from a fixed deposit is taxable under 'Income from Other Sources,' any interest income not exceeding Rs. 10,000 is excluded, under Section 80C of the Income Tax Act.
Until November 30, 2020, Bajaj Finance was deducting applicable tax on every deposit. But, with effect from Dec 1, 2020, tax will deducted (if applicable) on a PAN-level. This means if you invest in 5 deposits with Bajaj Finance, the total tax to be deducted would be calculated on these 5 deposits, and the entire tax would be deducted from the interest amount of any of these 5 deposits.
Bajaj Finance Limited also boasts of zero unclaimed deposits. This represents the highest safety standards, allowing you to lock-in competitive interest rates, and become part of a growing community that earns significant returns. Bajaj Finance FD is your best option in 2021, if you're looking for an investment that is risk-free and provides high returns.
It is extremely easy to invest in a Bajaj Finance online FD, where all you have to do is visit the website and fill the application form, where you need to enter a few basic details. To multiply your savings quickly, and ensure the safety of your corpus, start investing in a Bajaj Finance fixed deposit today.