With Bajaj Finance Online FD you can build a property without fear of losing your savings at market risk.
New Delhi. A better way to protect one’s investment from unexpected events and market fluctuations is that if the investment is made in such a financial instrument, it is not affected by these shocks and ensures better money growth. A fixed deposit and a savings account are both considered safe investment platforms, both offering fixed returns to investors, regardless of the market situation.
Often, these investments are not able to provide good returns, for example, savings accounts offer a 3-6 percent interest rate. However, if a person wants an excellent mix of high interest rate and safe investment, then Bajaj Finance online fixed deposit can be a better option for him. Bajaj FinServ Online FD provides interest up to 7.25 percent to senior citizens.
With Bajaj Finance Online FD you can build a property without fear of losing your savings at market risk. Let us explain how Bajaj Finance Online FD is a better investment place:
High earning with high interest rate
A savings account offers a lower rate of interest than a fixed deposit. A savings account employs a simple interest formula, so that you only get a return on your principal amount. On the other hand, the interest rate on FD is high and it has a compound interest formula. Bajaj Finance Online FD offers interest up to 7.25 percent to senior citizens. At the same time, all other investors investing online are being offered interest at the rate of 7.10 percent.
The interest rate of Bajaj Finance FD is higher than the interest offered by banks on FDs. Let us now understand this by an example, suppose a person invests Rs. 35,00,000 in FD plan for 5 years:
| Consumer type | Principal amount | Duration (month) | Rate of interest | interest income | Return |
| Senior Citizen (Offline / Online Investment Process) | Rs 35,00,000
| 60 | 7.25% | 14,66,547 rupees | 49,66,547 rupees |
| Non-Senior Citizens (Online Investment Process) | Rs 35,00,000 | 60 | 7.10% | 14,31,913 rupees | 49,31,913 rupees |
| Non-Senior Citizen (Offline Investment Process) | Rs 35,00,000 | 60 | 7% | 14,08,931 rupees | Rs 49,08,931 |
Flexible payout option and loan against FD
Interest on a savings account is paid according to the type of savings account and the rules of the bank. It does not have the facility of paying interest as desired by the investor. However, by investing in a non-cumulative FD plan offered by Bajaj Finance, you can get the payment of interest as per your need. In this, the investor has the option of paying monthly, quarterly, half-yearly or annual interest payments. Bajaj Finance also offers investors the facility of collateral free loans in lieu of FDs. This facility is not available in savings account. Bajaj Finance offers loans equal to 75 percent of the total value of FD.
Safe and easy online investment process
The end-to-end online process has been adopted by Bajaj Finance Online FD, which gives the investor experience of the contactless investment process. In this, the investor only has to fill an online FD form and enter the CKYC number. In the online process, an additional 0.10 percent interest is offered to the investors.
