Make your savings grow with a Bajaj Finance FD

The Reserve Bank of India (RBI) recently cut the repo rate by 35 basis points, which has brought it down to a 9-year low of 5.40%. The reduction of repo rates in the past led financiers to reduce FD interest rates by nearly 0.75%, and this rate cut again, may lead to further reduction in interest rates.

For investors seeking an efficient and safe avenue to multiply their finances, Bajaj Finance Fixed Deposit is a preferred investment option. You can get lucrative FD interest rates up to 8.95%, which makes this FD the best option. Moreover, Bajaj Finance has high credibility ratings, and you can reap the benefits of a convenient application process and a bouquet of other features.

If you’re looking to lock in on the best FD rates immediately, you can invest online if you’re an existing customer. Read on to know more about Bajaj Finance’s online FD facility and how it helps you.

Easy online FD

Oftentimes, you may postpone investing because you fear the tedious procedures that are in store. However, Bajaj Finance eliminates this by allowing you to invest instantly, in a matter of a few minutes. With just a few clicks, you can begin your investment journey.

Hassle-free investment

The online FD application process makes investing in an FD smooth and simple. As the entire process is online, it’s completely paperless. You can invest on the go, at home or at work, without worrying about making copies of documents or about how much time it’s going to take you. Bajaj Finance offers the convenience of booking a fixed deposit from anywhere, and at any time of the day.

Invest without submitting documents

As an existing Bajaj Finance customer, the cherry on the cake is that you don’t have to submit any extra documents when you open an online FD. As all your financial information is on file, you can book an FD in the blink of an eye.

Apart from this facility, Bajaj Finance also offers ease of investment through its multi-deposit feature that allows you to invest in several deposits of various amounts and tenors through 1 cheque. At select locations, you can even invest via your debit card.

Moreover, Bajaj Finance FD makes for a good pick because it offers you a range of other features. Take a look at what they are.

High interest rates

If you are an existing customer of Bajaj Finance, you can avail FD interest rates up to 8.85%, whereas senior citizens get up to 8.95% and new customers get up to 8.60%. These rates are applicable when you opt for an FD of at least 3 years with interest payable at maturity. Take a look at what this interest rate translates to, when you invest Rs. 1 lakh for 3 years.

Type of customer	Deposit (in Rs.)	Tenor (in years)	Interest rate (in %)	Interest earned (in Rs.)	Maturity proceeds (in Rs.)
New	1,00,000	3	8.60	28,082	1,28,082
Existing	1,00,000	3	8.85	28,969	1,28,969
Senior citizen	1,00,000	3	8.95	29,325	1,29,325

 

High stability and credibility

Bajaj Finance has the highest stability ratings of FAAA and MAAA from CRISIL and ICRA respectively. This means that your money is in safe hands and you can be sure of receiving returns.

More than 1,38,000 FD customers have invested in Bajaj Finance Fixed Deposit, contributing towards a book size of nearly 15000 crores. It indicates the highest levels of trust, making it one of the safest investment options.

Flexible investment tenor

You can invest for a tenor you are comfortable, ranging from 1 to 5 years. However, the longer the tenor, the greater are your benefits. To understand this better, let’s assume you’re a new customer who has invested an amount of Rs. 5,00,000 in a Bajaj Finance FD.

Here’s a comparison of the returns you can gain, if you invest for 1, 2, or 3 years.

Deposit (in Rs.)	Tenor (in years)	Interest rate (in %)	Interest earned (in Rs.)	Maturity proceeds (in Rs.)
5,00,000	1	8.00	40,000	5,40,000
5,00,000	2	8.15	84,821	5,84,821
5,00,000	3	8.60	1,40,412	6,40,412

Value-added benefits

With features like auto-renewal, Bajaj Finance helps you develop an investment habit. You can simply opt for this when you book your FD, and enjoy the luxury of not having to fill any forms at maturity to renew your investment. Moreover, if you need to cater to financial emergencies, you can take a loan of up to Rs.4 lakh against your deposit instead of liquidating it.

These features along with quick processing make Bajaj Finance FD the perfect fit for your investment portfolio. Be sure to make use of the online FD facility to grow your corpus safely with Bajaj Finance right away.