Pune (Maharashtra) [India], December 3 (ANI/NewsVoir): Bajaj Finance has increased the rate of interest offered on fixed deposits, and one can now earn up to 7.05%.
The FD interest rate has been increased by 30 basis points for all categories of investors and tenors, resulting in quicker growth of one's investment. The rise in the interest rate is applicable on all deposits made on or after 1st December 2021. Take a quick look at all the features a Bajaj Finance Fixed Deposit investment offers.
Increased FD rates: In recent years, fixed deposits have been considered a relatively slow investment instrument. However, this isn't the case with Bajaj Finance Fixed Deposits. With an FD rate of up to 7.05%, Bajaj Finance promises a higher return than most other banks. Customers below 60 years can earn 6.40% for a tenor of 24-35 months and 6.80% if they choose a tenor of 36-60 months. For a similar tenor, senior citizens can earn up to 6.65% and 7.05%, respectively. Study the table below to find out how much a Rs. 5 lakh investment can earn over varied tenors.
Invest safely: While some other forms of investments promise better returns, they come with a serious caveat of market fluctuations. A fixed deposit, however, is a considerably secure mode of investment. Moreover, Bajaj Finance also flaunts a high safety rating with the FAAA and MAAA certifications by CRISIL and ICRA, respectively.
100% online process: Bajaj Finance online FD offers an end-to-end online application process. The 5-step process takes less than 10 minutes and can be completed on a laptop, mobile phone, or tablet. While existing customers only need to verify their details, new customers can save considerable time thanks to the online KYC process. Subsequently, payments can also be made using net banking or UPI.
Periodic payouts: Bajaj Finance allows one to opt for regular payouts of the accrued interest. Investors can choose from four payout options - monthly, quarterly, half-yearly or yearly. Senior citizens who need funds periodically benefit hugely from this feature.
Periodic savings: Bajaj Finance also offers a Systematic Deposit Plan (SDP) for those who prefer to save small and periodic amounts to meet larger financial goals. Bajaj Finance also provides a Systematic Deposit Plan (SDP). Unlike a regular fixed deposit where one must invest a lump sum amount, an SDP gives the freedom of making stable monthly savings. Customers can invest a minimum amount of Rs. 5,000 every month for 6 to 48 months.
Bajaj Finance Limited, the lending company of the Bajaj Finserv Group, is one of the most diversified NBFCs in the Indian market, catering to more than 44 million customers across the country.
Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
To know more, please visit www.bajajfinserv.in
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)