Pune (Maharashtra): Due to the uncertain economic conditions and upheaval in the finance sector, investors are feeling hesitant to invest the money in the equity market due to the high-risk perception.
As a result, investors are looking for safer investment avenues which offer assured income and are free from market risks. This has led to a significant increase in the popularity of FD, and a large number of investors are investing their money in fixed deposits to enjoy the various benefits offered by this investment avenue.
Fixed Deposits from Bajaj Finance offer one of the best investment options for investors who do not want to expose their money to the market risks and are highly popular amongst investors from various walks of life.
Bajaj Finance Fixed Deposits offer one of the highest interest rates in the market starting at 8.40 percent and going up to 8.75 percent. These fixed deposits are rated high on safety and stability and have ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating, assuring investors of timely payouts.
Investment in Bajaj Finserv fixed deposits can be started from as low as Rs. 25,000/- and the maximum tenor being 60 months. There are no restrictions on renewals and investors can choose to renew their fixed deposits as many times as they want. With online account management through the Experia portal, investors can exercise complete control over various aspects of their investment with Bajaj Finserv.
Factors affecting fixed deposit interest rates:
Interest on fixed deposits varies significantly according to the tenor chosen at the time of starting the investment. Many lenders offer high FD interest rates of special durations. Bajaj Finserv offers 0.25 percent higher interest rate on investment for 15 months as compared to one year.
The total amount invested in a fixed deposit also affects the interest rate applicable to the instrument. With Bajaj Finserv, customers can start investing from as low as Rs. 25,000/- and can earn up to 8.75 percent interest.
Investors can earn higher interest rates on fixed deposits by opting for auto renewal facility. This also eliminates the need to keep track of renewal dates. Bajaj Finserv offers additional 0.10 percent renewal benefit to customers choosing for auto renewal. You can anytime check your maturity amount with FD Calculator.
Age of the investor also plays a role in determining the rate of interest applicable on a fixed deposit. Senior citizens usually earn higher interest rates as compared to average investors. Bajaj Finserv offers 0.35 percent additional interest rate on senior citizens fixed deposits.
The prevailing economic conditions in the country combined with the monetary and fiscal policy have a significant say on the interest rates applicable on fixed deposits.
Fixed deposits offer the investors an incredible opportunity to earn the highest rate of return amongst all the risk-free investment opportunities and build their retirement corpus efficiently. (BusinessWire India)