A fixed deposit is an investment of your savings to earn a higher rate of return than a regular savings account. It is offered by banks and NBFCs (Non Banking Financial Companies). A fixed deposit has the lowest risk in the portfolio of investment. Money is invested in a fixed deposit with a lock in period and interest is given either at the end of the maturity date or as a regular payout.
Here are five main advantages of having a fixed deposit:
Tenure options
Plenty of options are available when it comes to tenure where banks offer varying interest rates based on FD tenure. A longer tenure usually provides a higher interest rate. When investing in the Bajaj Finance Fixed Deposit scheme, you can choose the tenor between 12 and 60 months, to suit your financial needs. This can help you with your liquidity needs, and you can also ladder your investments to enjoy a higher cash inflow.
Easy withdrawal
During a financial emergency, you can always choose to withdraw the deposit prematurely as FDs come with a certain degree of financial flexibility. Banks may sometimes levy little or no penalty charges for premature withdrawal. In case of emergencies, you can withdraw prematurely from the Bajaj Finance Fixed Deposit, post the initial lock-in period of 3 months. However, in order to avoid loss of interest, you can choose to avail a loan against your Fixed Deposit, where you can take an easy loan.
Safety
Given the market volatility, Fixed Deposits are the best kind of investments for a stable risk-free return. You will not have to worry about any change in the interest rate since it will be fixed for the tenure of the deposit. With a term deposit interest rate of up to 6.75%, Bajaj Finance Fixed Deposit Scheme turns out to be the right choice for investment for the short as well as the long term.
Risk
As compared to the other investment options like the equity and mutual funds markets which are volatile, a Fixed Deposit guarantees you a risk-free return option. This is the best way to ensure steady returns.
Feasibility
In comparison with other investment options, Fixed Deposits offer better investment convenience and flexibility. You can invest in an online Fixed Deposit like Bajaj Finance Online FD from the comfort of your home, without having to face the trouble of going through lengthy procedures and visiting the bank. You simply need to enter your intended investment details, verify your documents online and pay via net banking or UPI option.
Parking your investment in the correct Fixed Deposit in 2021 will ensure high fd returns on maturity and also a choice of regular interest payouts throughout the chosen tenure. To ensure high returns you must look for an FD scheme with high-interest rate payouts
The best thing about opening an FD is the certainty of the payout as well as the payout time. You can use the online FD calculator available at Finserv MARKETS to determine the interest amount that you can earn upon maturity of your Bajaj Finance Fixed Deposit, depending on the duration of the investment that you choose.
Bajaj Finance Fixed Deposit is said to have one of the highest returns with an interest rate of up to 6.75%. Bajaj Finance offers lucrative opportunities for investment in Fixed Deposit and Bajaj Finance Fixed Deposit is a proven solution for falling FD rates. Apart from offering high FD returns, Bajaj Finance Fixed Deposit offers a flexible tenor, lets you choose your interest payment mode, avail tax benefits and easy access to loan, and lets you enjoy high credibility and stability. Customers also get an extra interest of 0.25% on renewing the Fixed Deposit. Senior citizens also get an extra interest of 0.25% as an additional benefit.
But how do you open a Bajaj Finance Fixed Deposit? Simple, Bajaj Finance has an extremely fast online process. You will not have to worry about visiting a branch and going through lengthy documentation processes, especially since the Covid 19 pandemic is still around. You can apply for a Bajaj Finance FD with Finserv Markets. Once you submit the documents, you can keep track of your fixed deposit account online in a seamless and hassle-free manner
On a rainy day, Bajaj Finance Fixed Deposit is your best friend as investing ensures that the money is available during financial emergencies as an assurance. You can have the cash deposited into your savings account whenever you want and hence is better than other investment options.
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