Home / Brand Post / As repo rates remain unchanged, invest in a Bajaj Finance online FD

In the latest bi-monthly monetary meet held from February 3 to February 5, the Reserve Bank of India (RBI) decided to keep the repo rate unchanged. This is the fourth time in a row, that the RBI kept repo rates unchanged at 4%, and reverse repo rates at 3.35%. Banks and non-banking financial companies had slashed their interest rates on fixed deposit, several times in the past few months, due to lower repo rates. And with average FD rates hovering around 4%, investors are unable to gain lucrative returns on their deposits with banks or NBFCs.

However, the latest interest rate revision by Bajaj Finance has given investors a reason to cheer, with the promise of assured returns up to 7.25%. For those looking to grow their savings, here’s why Bajaj Finance online FD can be your best bet.

Lock into high FD rates immediately

As an investor looking to lock in money at best possible interest rates, this might be the optimum time to go ahead and find that fixed deposit with the best interest rate. With FD interest rates up to 7% for non-senior citizens, there is an additional rate benefit of 0.10% on booking the deposit online. Senior citizens can get rate benefit of 0.25%, with assured returns up to 7.25% on their deposits, regardless of their mode of investment.

With an end-to-end Bajaj Finance online FD process, investors can lock into these prevailing high FD interest rates immediately. Whether you’re an existing or a new Bajaj Finance customer, investing in this FD is quicker and easier, with the online process.

Benefit from higher growth of savings

Along with the convenience of investing in a Bajaj Finance online FD, you can also look at higher growth of savings. Here’s a table to help you understand the average interest rates prevailing in the industry, at present.

This table will help you understand the average interest rates prevailing in the industry
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This table will help you understand the average interest rates prevailing in the industry

As you can see, the interest rates offered by Bajaj Finance FD are higher than average interest rates offered by FDs by banks or other NBFCs.

To put this into perspective, let us assume that you have decided to invest Rs. 30 lakh in a fixed deposit scheme for a period of 5 years. Here is the maturity amount you can expect from Bajaj Finance fixed deposit, an FD scheme offered by one of the traditional banks, and a fixed deposit scheme offered by one of the other NBFCs in the country.

Learn more about maturity amount you can expect from Bajaj Finance fixed deposit
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Learn more about maturity amount you can expect from Bajaj Finance fixed deposit

Note: ROI in the above calculator may vary upto 4 bps with the actual rates offered

As per the calculations mentioned in the table above, one can earn more by investing in a Bajaj Finance FD, as compared to FD schemes offered by other banks and institutions. Apart from capital safety and capital appreciation, Bajaj Finance Limited also offers flexible tenors ranging from 12 months to 60 months, and option to either invest in a cumulative FD or a non-cumulative FD, which offers returns periodically. This is critical, during these unprecedented times.

Whether you are a senior citizen, or an employee that wants the assurance of income coming in every month, non-cumulative FD schemes can prove to be extremely important.

Grow your savings with highest safety of deposit

With highest safety ratings of FAAA/stable from CRISIL and MAAA/stable from ICRA, Bajaj Finance FD can assure highest safety of your investment amount. You can be assured of guaranteed returns, timely payments and a default-free experience. You can also consider laddering your deposits, to benefit from changing interest rates over a period and maintain liquidity with maturing FDs.

Disclaimer: This content is distributed by Bajaj Finserv. No HT Group journalist is involved in the creation of this content.

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