Grow your savings by over 45 per cent with a Bajaj Finance FD

Updated: Mar 18, 2020, 13:17 IST | Partnered Content | Mumbai

With investor sentiment on the low as well as destabilising markets, it can be hard to earn on your investments in a profitable manner. However, Bajaj Finance offers FD interest rates up to 8.05%

This image is used for representational purpose
This image is used for representational purpose

Currently markets across the globe have turned bearish and many investors in India are looking to cut losses. The result has been immense volatility in the domestic equity market. Many blue-chip stocks traded near 52-week lows and the Sensex closed 20% below its 60-day peak on Friday. Leading experts suggest that during such a crash, it is crucial to remain level-headed.

Amid the uncertainty, identifying a way to invest safely and in a lucrative manner makes for a prudent financial decision. While the debt segment has proved to be a viable option in this regard, news of overseas investors withdrawing a whopping Rs.13,199 crore from this segment between March 2-13 may have you on edge. In fact, the 10-year government bond yield is currently nearing a 10-year low. Thankfully, the Bajaj Finance Fixed Deposit is still one option you can opt for that isn’t affected by such market volatility and can offer admirable returns, upwards of 45%, over a period of 5 years.

To know how you can grow your savings in turbulent times, read on.

Earn generously and at competitive FD interest rates

With investor sentiment on the low as well as destabilising markets, it can be hard to earn on your investments in a profitable manner. However, Bajaj Finance offers FD interest rates up to 8.05%, allowing you to easily combat inflation and hedge your portfolio against market risks.

Here, you get an interest rate of 7.80% as a new customer, with an FD booked for at least 48 months and with interest payouts at maturity. Senior citizens get an additional 0.25% percent on this rate.

For a clearer picture of your potential earnings, consider this example, in which Rs.25 lakh is invested for a tenor of 5 years.

Customer Type

Interest rate

Maturity proceeds

Savings growth

New

7.80%

Rs.36,39,434

45.57%

Existing

7.90%

Rs.36,56,346

46.25%

Senior citizen

8.05%

Rs.36,81,831

47.27%

Above results were generated using the FD calculator.

As you can see, irrespective of which bracket you fall under, you grow your savings by over 45% over a 5-year window.

  • Rs.25 lakh grows to Rs.36.39 lakh for new customers
  • Rs.25 lakh grows to Rs.36.56 lakh for existing customers
  • Rs.25 lakh grows to Rs.36.81 lakh for senior citizens

To enhance your earnings, you can opt for FD Auto-Renewal when investing. The facility reinvests your FD seamlessly and allows you to enjoy FD renewal bonuses and the power of compound interest. Currently, you get an additional 0.10% on the base interest rate.

Invest securely and without worry of default

In times of uncertainty, opting for an instrument that can earn you profits without putting your money at any risk is key to growing your savings and meeting your short- to medium-term goals. The Bajaj Finance FD handles this adeptly as it has the highest credibility and stability ratings by top rating agencies ICRA and CRISIL. It has secured the ICRA ‘MAAA’ and CRISIL ‘FAAA’ ratings and these being the highest in their respective categories, point towards timely interest and principal payouts and a default-free investment journey.

Ladder effectively with the Multi-deposit facility

Given the downward pressure on investments, laddering your FDs to feed your short-term goals may be an option you find appealing. This way you needn’t rely on a market-linked asset to provide liquidity for your goals. To ladder effortlessly, you can opt for the Multi-Deposit facility. Here, all you need is one cheque to book multiple FDs of varying tenors to ensure that you augment your savings and gain liquidity all through the investment window.

Take advantage of the Systematic Deposit Plan

Stepping down the risk curve is a perfectly sound approach to investing given the recent turn of events. So, similar to a Systematic Investment Plan for mutual funds, Bajaj Finance offers the Systematic Deposit Plan. Here, you can contribute to wealth generation by making smaller investments of as little as Rs.5,000 per month. Through this feature, each deposit counts as a new FD and is booked at the prevailing rate applicable. You can have between 6 and 48 deposits and opt for a tenor of 12 to 60 months. This way, even young investors can build a corpus steadily without having to secure a hefty lump sum.

All of the above-mentioned features make the Bajaj Finance FD incredibly effective as a wealth generation tool and you should get in now to best enjoy the current FD rates and the effect of compounding interest. To invest right away, book a Bajaj Finance online FD and await assistance from an authorised Bajaj Finance representative.

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