If you compare other investment options with FD, you will find that it is more flexible and stable as it protects your invested capital from fluctuating market conditions. The features offered by most financiers like the flexibility of tenor, compounding of interest after every quarter, interest payout options provided by non-cumulative FDs, etc. are almost identical.
Therefore, the rate of interest that varies as per the financier and the FD tenor you choose becomes the deciding factor while investing. Among the various FD rates that are currently available in the market, Bajaj Finance FD is offering one of the highest interest rates of up to 6.85%.
Therefore, you can park your savings in it and get surplus returns upon maturity. Let’s assume that you want to invest Rs. 100000 for a period of 5 years in this FD scheme. The below table shows the returns and growth in savings that you can achieve as per your applicable customer category:
| Customer Category | Interest Rate | Interest Amount | Growth in Savings |
| Senior Citizens | 6.85% | Rs. 42564 | 42.56% |
| Non-seniors (offline investment) | 6.6% | Rs. 40912 | 40.91% |
| Non-seniors (online investment) | 6.7% | Rs. 41571 | 41.57% |
The other benefits that you would get after investing in its FD plans are listed below:
Options of investing in multiple FD plans
One of the best features of Bajaj Finance FD is that you can invest in multiple FDs at once. This not only allows you to plan as per your future investment needs but it also allows you to analyze the benefits of both FD types at once. Also, you can deposit a single cheque to invest in several FD plans at once.
Periodic Returns or Returns on maturity
The option of choosing a flexible interest payout i.e. monthly, quarterly, six-monthly, or yearly periodic payout gives you a chance to fulfill your regular expenses like paying electricity bills, utility bills, etc. with ease.
By investing in a cumulative FD, you get the option of growing your investment steadily without withdrawing the returns periodically. The higher interest rate coupled with the compounding of returns allows you to fulfill your long term financial goals smoothly.
Convenient investment options
The online FD form provided by Bajaj Finance lets you park your savings conveniently. You also get an additional 0.10% FD interest rate if you prefer utilizing the online procedure.
If you are above 60, you will get an excess interest rate of 0.25% that will also reflect in your earnings. For confirming the impact these additional interest rates will have on your earnings, you can use the FD calculator that is available on the official website.
Flexibility
Bajaj Finance gives you the choice of choosing a flexible tenor from 12 to 60 months as per your requirements. Also, you get the facility of investing in an FD with just Rs. 25000. If you are not comfortable in depositing a chunk of your savings in an FD directly, you can invest in its Systematic Deposit Plan. SDP gives you the liberty of making a monthly deposit of just Rs. 5000 or more as per your financial obligations.
Each deposit will be considered to be a distinct FD and will attract interest at a rate prevailing on the date of deposit. Moreover, it is easy to invest in this deposit plan as it allows you to pick the same tenor for all your deposits on or all your investment can mature on a single date if you prefer investing in its Single Maturity Scheme.
Fixed deposit is a stable instrument as it keeps your deposits safe from the changing market conditions. Most financiers offer similar features when it comes to the flexibility of tenor, frequency of interest compounding, and choice of investing in a preferred FD plan and type. However, it is better to invest in an FD that offers the highest fixed deposit rate in the market as it will have a considerable impact on your returns.
Bajaj Finance offers one of the best FD interest rates currently. It also provides other options like an online investment method, the flexibility of investing in a disciplined way by investing in a Systematic Deposit Plan, and many more features that will help you grow your savings without any hurdle.
