At the start of 2021 as an investor, you might have reviewed many investment options. With high stock market macd histogram fluctuations, your mind would have automatically drifted towards fixed income instruments. Fixed Deposits(FDs) are the most preferred fixed-income assets in India. FDs are issued by both banks and NBFCs. NBFC FDs usually carry a higher interest rate than traditional bank FDs. FD investments are very beneficial. Some of the benefits are listed below.
Benefits of investing in Fixed Deposit in 2021
Compared to market-linked instruments, FDs carry lower risks. While they are subject to interest rate risks, the magnitude of interest rate losses is lower than that of losses from stock market investments.
Bajaj Finance FD is one of the safest investment options. It has consistently received high credit ratings from CRISIL, ICRA, and S&P Global. Thus, you can safeguard as well as grow your money by investing in Bajaj Finance FD.
Bajaj Finance has also engineered a unique scheme called SDP which is an amalgamation of traditional recurring deposits and mutual fund SIP schemes.
Under an SDP scheme, you invest small amounts monthly. Each deposit has a different maturity date. Each monthly deposit will be invested at the prevailing market interest rate on the date of investment. Thus, they are ideal schemes for managing interest rate risks.
FDs give guaranteed returns at a prescribed rate for a certain investment tenure. Currently, bank FD rates are low due to monetary policy changes made by the apex bank. However, some NBFCs offer competitive interest rates.
One such NBFC FD is Bajaj Finance FD. You can earn up to 7% p.a. by investing in Bajaj Finance FD. Moreover, you will earn an extra 0.10% p.a. if you book an FD online. So, earn more from the comfort of your home.
If you are a senior citizen, then Bajaj Finance FD is the best option for you. Right now, their senior citizen FD rate is one of the best in the country. You can earn up to 7.25% p.a.
Loan Against Deposit
Most banks offer overdraft facilities on FDs. While you can prematurely withdraw your FD to meet emergencies, you will lose interest in income.
You can prevent interest losses by opting for the LAD facility. Bajaj Finance FD’s LAD facility allows you to borrow funds up to 75% of the cumulative FD amount and up to 60% of the non-cumulative FD amount. Bajaj Finance does not levy any prepayment or foreclosure charges on loans.
Interest pay-out options
Depending on your financial goals and liquidity needs, you can opt for monthly, quarterly, half-yearly, or yearly interest payout options. Bajaj Finance FD offers attractive interest rates on non-cumulative FDs too. You can earn up to 7.10% p.a on non-cumulative FDs and up to 7.25%p.a. if you are a senior citizen.
There are very few traditional banks that will allow you to open multiple deposits with a single cheque payment. Bajaj Finance offers you a multi-deposit scheme that saves you from the hassle of completing multiple applications for multiple FDs. So open as many deposits as you want with a single cheque!
FD tenures usually range from 7 days to 10 years. You can choose an investment period as per your liquidity needs and long-term goals. Bajaj Finance allows you to choose FD tenures between 12-60 months. The longer the investment period, the greater will be the Bajaj Finance FD rates.
Thus, if you are speculating FD investments in 2021, then go for Bajaj Finance FD. Attractive FD rates coupled with many value-added features make Bajaj Finance FD a ‘must-have’ in your investment portfolio. You can also diversify your risks and earn higher returns from Bajaj Finance FD.
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