The Reserve Bank of India (RBI) has not changed the repo rate for the sixth consecutive year. However, it also suggested cutting the required rates. In such a situation, the deposit rate could be further reduced in the coming time. But fixed deposits, FD rates in public sector banks, are already less than five per cent. That is why it is important for investors to invest in the current high FD rate to increase their corpus. In the current era, Bajaj Finance Online FDs may be the preferred investment option, which provides attractive returns with high security of your deposits. This is about half the interest of public sector banks. At the same time, an additional 0.10 per cent interest is also being paid to invest online.
Also Read: FDs are more advantageous than debt mutual funds, do not make all fixed deposits in one bank
Bajaj Finance Online FD offers the most attractive rates for senior citizens to invest through any channel up to 6.75%, while non-seniors who invest online are receiving 6.60% interest. These interest rates are relatively high compared to the FDs of the Post Office and other large banks. High interest rates ensure investors a good return on maturity, thereby increasing their corpus. Because of the convenience of compound interest, one receives a higher return when invested over the long term.
Opportunity to earn regular income from FD
In addition, you can also get the option to receive payments in the regular period by investing an amount equal to the period of your choice in non-cumulative FDs. Investors may choose to accept payments on a monthly, quarterly, semi-annual, annual basis or at maturity. This facility is especially beneficial for senior citizens who can plan to cover their monthly expenses with the amount thus received.
With Bajaj Finance, any investor can withdraw funds from their FG in an emergency. Bajaj Finance offers easy loans against FDs, allowing investors to borrow up to 75% of the amount invested in their FDs. The lending process against FD requires minimal paperwork and can be completed quickly without any additional charges.
Convenient online process
Investors can now invest in FDs without the hassle of submitting a variety of documents and standing in long queues. With Bajaj Finance Online FD, investors reap the benefits of a paperless, online and online process. Investors in online are also given a 0.10% surcharge.
Safety and reliability
Bajaj Finance Online FD has high ratings from major credit rating agencies in India, such as Crisil (FAAA) and ICRA (MAAA). Moreover, NBFC Bajaj Finance is the only NBFC with ‘Nil Unclaimed Deposits’, which is an indicator of superior customer experience with timely payments and no default