Where To Get Best Fixed Deposit Interest Rates In India?
With FDs, you get the benefit of knowing the interest rate in advance. You can select the FD tenor as per your financial plans and the option of choosing the interest payout frequency is also available with most banks. Assured returns and faster growth of investment due to interest compounding make FDs a profitable investment avenue. However, the returns are determined on the basis of the interest rate at which the capital grows for a fixed period. The reasons that make FD a profitable inclusion in your investment portfolio are listed below:
Reduces risk – The risks that your investment portfolio carries due to investment in market-linked options can be balanced by investing in FDs. Being a stable instrument, FD gives you the safety of capital of assurance of earning the desired interest income.
Meeting goals becomes easy – As investment tenor and interest rate associated with FDs are fixed, predicting the exact FD returns is possible. Therefore, the investment goals that you plan with FDs are met without any delay or issues.
High returns – With FDs, you can expect to earn higher returns as compared to savings accounts and recurring deposits. If you invest in a corporate FD like Bajaj Finance FD, the chances of earning surplus returns are high. It is because this FD scheme offers a fixed deposit interest of up to 7.05%. Apart from high returns, you can reap the following benefits from this FD scheme:
Strong & Stable Financials Fixed Deposit
The high credit ratings offered by CRISIL and ICRA ensure that investing in Bajaj Finance FD is financially a safe decision. Your invested capital will remain safe and the interest capitalisation will remain unaffected from the market fluctuations.
Interest Payout Option
Bajaj Finance FD comes with flexible interest payout options. These options include monthly, quarterly, yearly, and bi-annual interest payouts. The interest payouts can come handy when you are going through a financially unstable phase in your life.
High returns and Interest Rates
The FD rates in India have been quite low in the past couple of years. The high interest rates offered by Bajaj Finance FD fulfil your expectations of earning a high interest income from FDs. The interest rate offered by this fixed deposit scheme is much higher than regular bank and post office FDs.
Suppose you have collected a capital of Rs. 15,00,000 till retirement and want to earn a decent interest from it in 3 years. The interest rates and returns offered by different fixed deposit plans are given below:
| FD plan | Amount | Interest Rate | Tenor | Interest Gains | Maturity Amount |
|---|---|---|---|---|---|
| Bank FD | Rs. 15,00,000 | 5% | 3 years | Rs. 2,41,132 | Rs. 17,41,132 |
| Post Office FD | Rs. 15,00,000 | 5.5% | 3 years | Rs. 2,67,102 | Rs. 17,67,102 |
| Bajaj Finance FD | Rs. 15,00,000 | 7.05% | 3 years | Rs. 3,40,142 | Rs. 18,40,142 |
You can see that the interest generated from the Bajaj Finance FD is much higher as compared to the interest capitalisation made by bank and post office FDs. The flexible tenor ranging from 12 to 60 months allows you to decide the investment tenor as per your investment strategies. With the help of an FD calculator, you can find the combination of FD tenor and amount that helps you attain your investment goals.
Online Fixed Deposit investment
Bajaj Finance FD guarantees a complete start-to-finish online procedure for investing in FDs. You can invest in this FD scheme by submitting the online FD form that is available on its portal. An online document verification process is facilitated through CKYC procedure. Therefore, there is no need to take any efforts or waste time while investing in this FD scheme.
