Bajaj finance FD: The interest rates of FD in India are dependent on the rules of RBI. The reduction in the repo rate by RBI also reduces the interest rate offered by commercial banks.
FD interest rates from Bajaj Finance is one of the highest interest rates offered by financial institutions in India.
Money deposited in fixed deposits is not affected by market fluctuations, and that is why FDs are the most preferred among the investment avenues currently available. Moreover, it is one of the most reliable options for investing your hard earned money, which gives you maximum returns on your deposits. Banks, post offices and Non-Banking Financial Institutions (NBFCs) in India provide the facility of fixed deposits to the customers. Bajaj Finance is one of the NBFCs offering this facility. Each institution providing such facility has its own advantages and features.
The difference between them can be understood only after comparing the features of fixed deposits of all these institutions thoroughly. If a person wants to invest his money in a safe instrument like FD to increase his corpus over the long term, then it is very important for him to know these differences. Below is why Bajaj Finance Online is the most preferred mode of FD investment:
Higher income opportunity with higher interest rates
When it comes to investing in FDs, people prefer higher FD interest rates and they prefer FDs with higher interest rates. FD interest rates in India are dependent on the rules of RBI. The reduction in the repo rate by RBI also reduces the interest rate offered by commercial banks. Due to this the return on maturity also gets reduced. However, being an NBFC, Bajaj Finance is not directly under the control of the central bank. The reduction in policy rates has much less effect on it as compared to banks. Hence, Bajaj Finance online FD is more beneficial than FD schemes from banks or even post office.
FD interest rates from Bajaj Finance is one of the highest interest rates offered by financial institutions in India. The table below shows the difference in interest rates of different financial institutions.
|financial institution||FD Interest Rates for Non-Senior Citizens (%)||FD Interest Rates for Senior Citizens (%)|
|Bajaj Finance||5.65-6.60 (from 1 year to 5 years)||5.90-6.75 (from 1 year to 5 years)|
|post office||5.50-6.70 (7 days to 5 years)||5.50-6.70 (7 days to 5 years)|
|Bank||5.30 – 6.50 (from 7 days to 10 years)||5.80 – 6.50 (from 7 days to 10 years)|
Fixed deposit rates for post office in India vary depending on the tenure and senior citizens do not get any additional benefits in the form of higher interest rates. Thus, Bajaj Finance Online FD stands as the strongest contender, guaranteeing high returns as well as offering several other benefits.
Loan facility against FD
Post office and bank FDs do not allow investors to receive interest money at regular intervals as per their choice. However, one can choose to invest in a non-cumulative FD plan from Bajaj Finance to receive interest money at regular intervals as per their needs. In this scheme, investors get the option of receiving the interest amount on monthly, quarterly, half yearly or yearly basis. Financiers like Bajaj Finance also allow investors the facility to apply for loan against FD without collateral, and such facility is not available on a savings account. Investors in Bajaj Finance Fixed Deposit can avail loans up to 75% of the amount invested on their FDs. In this way they can meet the immediate needs of cash.
Safe and simple process of online investment
Bajaj Finance Online FD adopts an end-to-end online process, which allows investors to invest without any contact. Investors can fill FD forms online with ease, and can also avail an additional rate of 0.10% on booking online.
Great returns from rating agencies too
Bajaj Finance FD has received highest ratings of (FAAA) and (MAAA) from leading credit rating agencies of India, i.e. CRISIL and ICRA. Hence, one can invest in Bajaj Finance Online FD very easily without worrying about returns, default or late payment of interest.
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