Where to get FD interest rates up to 8.35%?

The Monetary Policy Committee of Reserve Bank of India decided to keep the repo rate unchanged at 5.15%, at the meeting held on February 5, 2020. However, it was decided to bring down the interest rates in the system with some of the novel measures announced. 
One of these measures include the Long-Term Repo Operations, which will open an additional window of Rs. 1 lakh crore, wherein RBI shall provide finance at 5.15% for 1 year and 3 years at the repo rates. However, this is lower than the prevalent market fixed deposit rates for tenor of 1 year and 3 years. Even as this eases the funding costs for banks and corporates, it shall not be in the interest of retail bank depositors. FD rates are hence, expected to go further down. 

Why should you still invest in fixed deposit?
Despite falling interest rates, FD continues to be a better investment choice in the present economic climate. If you’re considering market-linked instruments, it is important to know that while the domestic market saw a historic change in sentiment post the announcement of Budget 2020, market volatility is likely to resurface soon. The government is also likely to reduce the interest rates on small savings schemes, which leaves you with fixed deposits as the best investment option. 

However, as the interest rates continue to fall, finding lucrative returns on your deposit has become challenging. To truly reap the benefits of a fixed deposit, choosing the right issuer is of paramount importance. A particularly notable option is the Bajaj Finance Fixed Deposit as it grants access to industry-leading, attractive FD interest rates up to 8.35% and allows you to grow your wealth at virtually no risk. To understand how a Bajaj Finance FD is the right choice when looking to get returns of 8% and more, read on.

Get competitive interest rates
On choosing to invest in a Bajaj Finance FD, you get an interest rate of up to 8.10% as a new customer, 8.20% as an existing Bajaj Finance customer or employee and up to 8.35% as a senior citizen, provided you’ve booked an FD for at least 36 months with returns payable at maturity. Ideally, for the highest returns possible, opt for a long-tenor FD as this allows you to maximise earnings through compounding interest. In fact, on a 5-year Bajaj Finance FD, you can get up to 49.32% returns, depending on your investor profile. 

Consider the table below to get a clear idea of the interest and total payouts you earn as a new customer investing Rs.10 lakh, Rs.20 lakh and Rs.30 lakh over a tenor of 4 years. 


Amount invested (Rs.) Interest Rate Tenor (in months) Interest payout (in Rs.) Total payout (in Rs.)
10 lakh 8.10% 48 3,65,535 13,65,535
20 lakh 8.10% 48 7,31,070 27,31,070
30 lakh 8.10% 48 10,96,604 40,96,604


Choose a flexible tenor
When you opt for the Bajaj Finance FD, you can choose a flexible tenor, ranging from 1 year to 5 years, for your investment. This way, you can leverage your finances smartly and use your investment proceeds to fund both short- and long-term financial goals. However, when looking to bring in returns of at least 8%, consider investing for at least 36 months with interest payable at maturity. Take note of the fact that a longer tenor translates to higher interest returns and so, it may be the best option for wealth generation. To strategize in the most efficient manner, make sure to use the FD calculator to accurately forecast your earnings. 

Highest stability and credibility ratings
Bajaj Finance has the highest stability ratings of MAAA and FAAA from CRISIL and ICRA, respectively, guaranteeing the safety and security of your deposit. Moreover, it is the only NBCF in the country with the international ‘BBB’ rating from S&P Global. This, in addition to that fact that FDs are immune to market volatility, assures that you will receive your promised return in a timely manner. So, take advantage of this highly safe and reliable vehicle and invest a sizable corpus in a long-tenor FD. This way, you earn handsomely thanks to compounding interest without worry of default.

Convenience of SIPs with assured returns
Typically, you are required to have a sizable corpus to book an FD as it usually involves a lump sum investment. However, with the Systematic Deposit Plan (SDP) by Bajaj Finance, you can make bite-sized monthly deposits starting Rs. 5,000 and start your investment journey easily. Here, you can make 6 to 48 monthly deposits and choose a flexible tenor ranging from 12 to 60 months. Each deposit is considered as a separate FD and the tenor selected for the first deposit is applied to all. Also, each new FD is booked at the prevailing interest rate on the day that you make the deposit, which allows you to earn at higher rates if the market is favourable. 

In this way, the Bajaj Finance FD is adept at earning returns of 8% and higher. For greater ease, you can also opt for the Multi-Deposit facility and ladder your investment easily with just a single cheque. So, get started right away and fill the online application form to book your FD and build your wealth hassle-free.

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