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As the Indian economy recovers, traditional investors now have the option to extract value from trusted instruments like the fixed deposit. The recent RBI repo rate hike is among the key factors, and it has led several top issuers to improve their offerings. One particularly smart option is the Bajaj Finance Fixed Deposit. Investors of all ages now enjoy some of the highest FD rates in the market, with special benefits for senior citizens. It is primarily because the senior citizen FD allows you to get an enhanced rate, thus ensuring higher returns.

However, besides the FD rates, the Bajaj Finance Senior Citizen FD also has several other special benefits. These allow you to invest easily and ensure you enjoy a convenient experience without worrying about the returns. For a detailed breakdown of the features on offer, read on.

Enhanced FD rates

The FD rates you get dictate your total earnings. Higher rates lead to better earnings, so you must pick issuers accordingly. With a Bajaj Finance Fixed Deposit, you get some of the highest rates in the market, as regular investors can get interest rates up to 7.50% p.a. However, a special benefit ofthe senior citizen FD is that you get an additional 0.25% on the base rate offered. This notable increase can significantly increase your total earnings, especially if you invest over a lengthy tenor.

To help you better understand the difference and how you stand to earn significantly more as a senior citizen investor, take a look at the following tables.

Consider cumulative FD investments of Rs.3 lakh, Rs.5 lakh, and Rs.10 lakh; all booked at a common tenor of 44 months.

Investors below 60 years:

Rates for investors below 60 years.
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Rates for investors below 60 years.

Senior citizen investor:

Rates for senior citizen investors.
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Rates for senior citizen investors.

Disclaimer: All results were computed using the Bajaj Finance FD calculator.

Flexible investment options to ensure maximum convenience

As a senior citizen investor, enjoying a convenient experience is crucial. This way, you don’t undertake any financial stress and can quickly achieve your financial goals. To ensure you enjoy such an experience, Bajaj Finance has several provisions. For one, you can start investing with Rs. 15,000. This way, you don’t have to accumulate a hefty sum to start investing and can start earning interest immediately.

Another flexible feature is that you can opt for a tenor for up to 60 months. You can book your FD for anywhere between 12 and 60 months based on your goals and requirements. However, you must remember that a long-term senior citizen FD will fetch significantly greater returns than a short-term FD. It is mainly due to interest compounding, which causes you to earn generously the longer you stay invested. The easiest way to compare and understand the effects of compounding is to use the FD calculator. By increasing the tenor, you will notice that you can earn handsomely, even if you improve the duration by just one year.

Multiple payout options to align with any investing goals

Adding the convenience on offer, senior citizens can invest in a Bajaj Finance Senior Citizen FD and get interest payouts based on their requirements. You can choose either a non-cumulative or cumulative FD, based on which you get your interest earnings at maturity or periodically. If you choose the former, you can get monthly, quarterly, half-yearly, and annually interest payouts. For senior citizen investors, a non-cumulative FD can be a wise choice as it helps create a steady income stream. The earnings can quickly help you address monthly expenses, so long as you invest wisely.

The interest rate offered to senior citizens for different payout options is mentioned below:

Interest rates offered to senior citizens for different payout options.
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Interest rates offered to senior citizens for different payout options.

Special interest rates are also offered for specific tenors:

Special interest rates offered for specific tenors.
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Special interest rates offered for specific tenors.

Do note that a non-cumulative FD will have lower FD rates as compared to a cumulative FD. You can check the difference and use the FD calculator to know exactly how your earnings get impacted.

Simplified investing processes

A vital benefit of the Bajaj Finance Senior Citizen FD is that you can invest online. You can complete the entire process in minutes, saving you from making a trip to a physical branch. Best of all, there’s no need to wait in queues whatsoever. Log on to the official website, fill out a simple form, upload the necessary documents, and book your FD through UPI or NetBanking. The process is quick, easy, and completely safe.

Considering all these special benefits, the Bajaj Finance Senior Citizen FD is an intelligent choice. To enjoy all the features on offer, book your FD today and start earning generous returns on a safe and stable instrument.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.

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