Saving a good part of your monthly salary is very important and rather a good financial practice. Experts recommend that people should save at least 20 percent of their earnings every month. By saving money, you do not have to keep it with you but invest it. Investing this savings in a good financial option helps in building a solid corpus, which can be useful for meeting your big or small goals or during emergencies. Investing in a Bajaj Finance Online FD can prove to be a smart option. This FD can give you interest up to Rs 3.86 lakh in 5 years.
Difficult to choose the best option
Choosing the right investment option can be a daunting task amidst the current high inflation rate and the volatility of the stock market. In such a situation, FD is a safe option, where the returns are not affected by the volatility of the stock market. For investors with low risk appetite, FDs are an ideal investment option. Investing in a Bajaj Finance Online FD can prove to be a smart option.
Will get more interest
Bajaj Finance FDs not only get you high interest rates, but also allow you to withdraw your money without any restrictions after the initial 3 months lock-in period is over. Investors can also use the FD interest rates calculator to estimate the return on maturity before investing in Bajaj Finance.
In this way, interest of Rs 3.86 lakh will be available
At present, 6.75 percent interest rate is being offered to senior citizens on 5 year FDs of Bajaj Finance. If a senior citizen invests Rs 10 lakh in a 5-year FD of Bajaj Finance, he will get an interest of Rs 3.86 lakh in 5 years at an interest rate of 6.75 per cent. That is, your wealth will increase by 38.6 percent.
Get more interest like this
You will get around 10% higher returns on investing in Bajaj Finance FDs as compared to investing in Bank FDs for a tenure of 5 years. Another thing is that through the online FD process, you are saved from waiting in long queues. You will also get the benefit of an additional 0.10% interest rate when investing through the Bajaj Finserv website as a non-senior citizen.
Small deposit option
If one does not have a large amount to invest in FDs immediately, then they can consider creating a bigger corpus from the Systematic Deposit Scheme (SDP). SDP is a monthly savings scheme that gives an option to build a large amount by making small monthly deposits, starting from just Rs 5000 per month. In this option, every amount deposited by you is treated as a separate FD and the deposit amount gets debited from the depositor’s account every month on the chosen date.
