The Reserve Bank of India (RBI) has not changed the repo rate for the sixth time in a row. However, it has also indicated to cut rates on need. In such a situation, the deposit rates can be further reduced in the coming time. Whereas fixed deposit ie FD rates in public sector banks have already gone below five per cent. That is why it is important for investors to invest at the current high FD rates to increase their corpus. Bajaj Finance Online FDs can be one of the preferred investment options in the current era, offering attractive returns along with the highest safety of your deposits. In this, interest is getting about half a percent more than the FDs of public sector banks. At the same time, an additional 0.10 percent interest is also being offered on investing online.
Bajaj Finance Online FD is offering senior citizens extremely attractive interest rates of up to 6.75% for investing through any channel, while non-seniors investing online are getting up to 6.60% interest. These interest rates are relatively high as compared to FDs of post office and other big banks. The higher interest rate ensures better returns on maturity to the investors, thus increasing their corpus. Due to the advantage of compound interest, one gets higher returns when invested for a long period of time.
Opportunity to earn regular income from FD
Apart from this, you can also avail the option of getting payouts at regular intervals by investing an equal amount for a tenure of your choice in non-cumulative FDs. Investors can choose to receive payments on a monthly, quarterly, half yearly, yearly basis, or on maturity. This facility is especially beneficial for senior citizens, who can plan to meet their monthly expenses with the amount thus received.
With Bajaj Finance, any investor can prematurely withdraw money from his FG during emergencies. Bajaj Finance offers easy loan against FDs, allowing investors to avail loans up to 75% of the amount invested on their FDs. The process of granting loan against FD requires minimal paperwork and is completed quickly without any additional charges.
convenient online process
Now investors can invest in FDs without the hassle of submitting copies of various types of documents and standing in long queues. With Bajaj Finance Online FD, the investor gets the benefit of a contactless and online process without paperwork. Those investing online are also given the benefit of an additional rate of 0.10%.
safety and reliability
Bajaj Finance Online FD has the highest ratings from leading credit rating agencies of India, i.e. CRISIL (FAAA) and ICRA (MAAA). Moreover, Bajaj Finance is the only NBFC to have ‘Nil unclaimed deposits’, which is indicative of providing the best customer experience with no defaults along with timely payments.