Enjoy multi-deposit facility with Bajaj Finance FD

Jul 29 2019 11:36 AM
Enjoy multi-deposit facility with Bajaj Finance FD

Fixed deposit is one of the safest investment avenues, which offers guaranteed returns. When you invest in a fixed deposit, the investment multiplies based on a fixed interest rate throughout the tenor, unaffected by market volatilities. Further, as your investment in a fixed deposit is locked for the entire tenor, you can start FDs for specific goals if you plan in advance. Laddering your deposits is a good way to spread your investments over different tenors, so you can keep benefiting from higher liquidity and returns.

Bajaj Finance Fixed Deposit offers multi-deposit facility for 12 to 60 months, as per your investment goals. By investing in this FD, you can access your funds easily when you need them, so you don’t have to break your FD prematurely. This is extremely beneficial, as you can sidestep the loss of interest that comes with premature withdrawal.

Highest interest rates with Bajaj Finance Fixed Deposit

Amid updates of falling interest rates, it is hard to find safe investment options offering higher interest rates. Bajaj Finance FD is offering one of the highest interest rates. Check out interest rates offered by NBFCs in India to understand why Bajaj Finance should be your pick.

 

NBFC

Interest Rate Range

Bajaj Finance Limited

8.60% - 8.95%

LIC Housing Finance Limited

8.00% - 8.25%

Muthoot Capital

7.75% - 8.00%

PNB Housing Finance Limited

8.25% - 8.45%

Kerala Transport Development Finance Corporation Limited

8.25% - 8.45%

ICICI Home Finance Limited

7.30% - 7.55%

 

 

Not only does Bajaj Finance offer high interest rates, but it is also one of the most trusted issuers in the country. It has a total of 1,45,000 investors contributing towards a book size of over Rs. 13,000 crore. In addition, over 61,000 senior citizens have invested in Bajaj Finance FDs worth more than Rs. 3,300 crore.

What makes this FD extremely attractive is that it carries ICRA and CRISIL’s highest ratings, indicating complete safety of your money. Moreover, Bajaj Finance also offers unique features like the multi-deposit facility that helps you invest for your various goals with ease.

 

How can multi-deposit facility benefit you?

The multi-deposit facility offered by Bajaj Finance allows you to invest in multiple FDs via a single cheque. This offers you ample convenience as you don’t have to go through the hassles of writing separate cheques for each FD investment.

How to plan for your various goals with the multi-deposit facility?

The best part of the multi-deposit facility is that in spite of investing a lump sum in a single go, you can still choose the deposit amount, tenor and interest payout frequency for each fixed deposit. Thus, you can invest in multiple FDs as per your goals and expenses, and access the required liquidity on time. The FD calculator can help you ascertain maturity values and plan your investments accordingly.

 

Bajaj Finance offers different interest rates to different customers, and based on your profile you can earn 8.6% interest as a new customer, 8.85% as an existing customer, and 8.95% interest as senior citizen. To understand how you can utilise the multi-deposit facility to achieve various goals as a first-time investor, take a look at the following table.

 

Goal

Amount required to meet the goal (in Rs.)

Tenor (in years)

Deposit amount required (in Rs.)

Maturity amount (in Rs.)

Children's higher education fees

10,00,000

5

6,62,000

10,00,016

Home loan down payment

5,00,000

3

3,91,000

5,00,802

Overseas vacation

3,00,000

2

2,57,000

3,00,598

 

 

In addition to laddering FDs, Bajaj Finance also offers a loan against fixed deposit. All you have to do is apply online and access a sanction of up to Rs. 4 lakh. By doing so, you can address any emergency without breaking your FD prematurely and losing out on returns.

 

Apart from the multi-deposit facility, take a look at the other features of a Bajaj Finance Fixed Deposit that make it an attractive proposition.

-  Bajaj Finance is the only Indian NBFC to have an international rating of BBB by S&P Global, which makes its FD safe to invest in.

-  Opening a Bajaj Finance FD is extremely easy thanks to the simple online application process.

-  As the name suggests, the auto-renewal option allows you to automatically renew your FDs on maturity, without having to fill out any paperwork.

-  To encourage reinvestment, Bajaj Finance offers additional FD interest rates of 0.10% each time you renew your FD.

-  Bajaj Finance allows you to invest in an FD using your debit card at select locations, which further enhances ease of investment.

 

With so many incredible features on offer, there’s no better time than now to invest for your future by using Bajaj Finance’s multi-deposit facility.

 

© 2019 News Track Live - ALL RIGHTS RESERVED