Each year, 15th of August comes as a reminder in our lives, to reiterate the fact that independence is worth fighting for. And as the country goes on to celebrate the 74th Independence Day amid virtual cultural and musical events, it is also time to consider the importance of financial independence in our lives. While there is no absolute definition of financial independence, it can be explained as a state of having enough wealth to fund your requirements for the rest of your life, without having to keep working forever. To attain financial independence, you need to go beyond stable earnings, to invest in smart instruments.
However, in today's times of high market volatilities and economic uncertainties, investing in market-linked instruments may not be beneficial in the longer haul. Instead, fixed-income instruments like fixed deposit come across as preferred investment avenues. But if you're bothered by reduced FD interest rates after RBI's repo rate cuts, you can consider choosing to invest in a Bajaj Finance Fixed Deposit.
Read on to know why investing in a Bajaj Finance FD could be a great investment option for you.
Freedom from fears of safety
For those with the ambition to get sky-high returns with the lowest risk, Bajaj Finance FD can be a great option offering a rewarding balance. You can remain free from the fear of losing your savings, as this FD is rated highest on safety, with the highest ratings of FAAA by CRISIL and MAAA by ICRA. These ratings indicate the highest safety of your deposit, which can be attested by their deposit book of more than Rs. 20,000 crores and 2,35,000 happy FD customers.
If you're looking to plan your savings beforehand, consider using the Bajaj Finance FD interest calculator. This easy-to-use tool enables you to know your returns before you invest, so you can plan your investments and get the maximum returns on your savings.
Freedom to grow your savings
Investing in this FD can help you reap the benefit of one of the best FD interest rates, as shown in the table below:
Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f. 04 Jul 2020)
|Tenure in Months||Minimum deposit (in Rs)||Cumulative||Non-Cumulative (Monthly)||Non-Cumulative (Quarterly)||Non-Cumulative (Half Yearly)||Non-Cumulative (Annual)|
|12 - 23||25,000||6.90%||6.69%||6.73%||6.79%||6.90%|
|24 - 35||25,000||7.00%||6.79%||6.82%||6.88%||7.00%|
|36 - 60||25,000||7.10%||6.88%||6.92%||6.98%||7.10%|
The above interest rates are applicable for individuals below 60 years of age, investing through offline mediums. On investing online, you can gain 0.10% additional returns. Senior citizens can benefit from an additional rate benefit of 0.25%, regardless of their mode of investment. Invest in Bajaj Finance FD to grow financially without any limitations.
Freedom of choice
Bajaj Finance offers the convenience of online FD, which can also help you gain 0.10% additional returns if you're below 60 years of age. In today's times, most of us are gripped with fear and are less likely to step out of our homes. The choice of investing in a Bajaj Finance online FD offers the comfort of investing from home, so you can skip the crowds and queues, and book your FD within minutes.
In addition to the comfort, Bajaj Finance also offers the option to choose flexible tenures from 12 to 60 months, to help you grow your savings as per your liquidity needs. You can either choose to get your returns at maturity, by choosing the Cumulative option; or you can choose to get periodic returns, by selecting the Non-Cumulative option. There's also the freedom to choose payouts on a monthly, half-yearly, quarterly or yearly basis, as per your requirements.
Freedom to save on a monthly basis
In addition to attractive FD interest rates, Bajaj Finance also offers the option to build your savings on a monthly basis. You can choose to grow your savings with Systematic Deposit Plan (or SDP) with deposits starting just Rs. 5000 per month. Unlike market-linked instruments, saving with SDP can help you get assured returns with the convenience of SIPs.
All you need to do, is start saving every month, and choose deposits ranging from 6 to 48, as per your tenure and maturity plan. You can choose to save each deposit for flexible tenures of 12 to 60 months, and each of your deposits earn interest on the rates prevailing on the date of deposit.
With Systematic Deposit Plan, you can choose to grow your savings, as per these two variants -
- Monthly Maturity Scheme - This is best for individuals looking to get their returns with maturity on periodic basis.
- Single Maturity Scheme - This works best for individuals looking to get their returns on a single day. However, when choosing the tenure for your first deposit, the tenure of each subsequent deposit will gradually reduce such that all deposits placed mature on a single day.
With these benefits and the independence of growing your savings with such convenience, Bajaj Finance FD is one of the best savings option for you. Make a smart choice with this FD and celebrate freedom in its true sense.