To grow your savings without any obstacles, you should invest in a reliable instrument like an FD or fixed deposit. Though you may not be keen on investing in regular bank FDs owing to the low-interest rate they provide, Bajaj Finance FD can prove to be a great vehicle to drive your investment plans forward. The high FD interest rates offered by this FD scheme can be used to earn enough returns for meeting your future investment goals. The other benefits of the fixed deposit scheme offered by Bajaj Finance are stated below:
Regular monetary assistance
Bajaj Finance FD not only assures high returns upon maturity but you can also use it to earn interest payouts by opting for a non-cumulative FD. The frequency of interest payouts can be set in such a way that you will get monetary assistance after every year, quarter, six months, or one month.
Higher returns than other FD schemes
To find the impact of the FD rate that can be up to 6.75%, let’s look at an example. Suppose you think of Rs. 25,00,000 in a 3-year FD plan. Now, you have options of investing this corpus in either bank FD, post office time deposit, or Bajaj Finance FD. The calculations of interest and maturity amount that is provided in the below table might clear your doubts:
| Fixed Deposit Scheme | Amount | Tenor | Rate of Interest | Interest gains | Maturity Amount |
| Bank FD | Rs. 25,00,000 | 36 months | 5% | Rs. 4,01,886 | Rs. 29,01,886 |
| POTD | Rs. 25,00,000 | 36 months | 5.5% | Rs, 4,45,170 | Rs. 29,45,170 |
| Bajaj Finance FD | Rs. 25,00,000 | 36 months | 6.75% | Rs. 5,41,191 | Rs. 30,41,191 |
You will notice that the difference in returns is huge and you will be able to earn much higher returns if you choose a longer tenor. The option of auto-renewing your deposits immediately after the date of maturity is also provided by Bajaj Finance FD. This will help you to multiply your returns without wasting any time. For conducting the FD rates comparison across different tenor options and FD types, you can check its online FD calculator.
Lucrative for senior citizens
Senior citizens will be able to earn higher returns as Bajaj Finance FD guarantees a 0.25% extra FD interest rate to all the citizens who are above 60 years of age. Even non-senior citizens have the opportunity to enhance the growth rate for their deposits by 0.10%. For that, they should utilize the online investment process facilitated by Bajaj Finance.
Simple withdrawal policies
If you face an emergency or financial crisis 3 months after investing in Bajaj Finance FD, you can withdraw your investment by paying a nominal penalty. You don’t have to worry if your deposits haven’t completed a minimum period of 3 months as you can ask for a collateral-free loan against your investment. The loan amount can be extended up to 75% of the worth of your deposits.
Opportunity to reap substantial returns
Bajaj Finance FD ensures that you earn substantial returns by depositing your money in a cumulative FD. The interest payouts aren’t released after a definite interval by a cumulative FD and this means that your interest earnings will be added to the investment amount after every FD interest calculation cycle. This will compound your returns swiftly and you will receive a huge maturity amount after completion of the FD tenor.
You may also deposit your savings in FDs of different tenors at once. This facilitates easy laddering of deposits and Bajaj Finance FD lets you select different amounts and FD types for every FD. A single cheque needs to be submitted for payment against all the FDs. By depositing in multiple FD accounts, you will enjoy more options to liquidate your deposits and you may withdraw a couple of your FDs during a medical or any other emergency.