Friday, March 29, 2024
News

Invest in AAA-rated Bajaj Finance Fixed Deposit to get returns up to 7.85 percent p.a. | Special Tenures for higher FD Rates

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Business | November 10, 2022 2:00:00 PM IST
Pune (Maharashtra) [India], November 10 (ANI/NewsVoir): The fixed deposit has been a trusted, go-to investment for the risk-averse investor, and the recent hike to the FD rates only make it more attractive.

It is one of the few instruments that offers the benefit of a fixed income, and it is unaffected by market volatility.

Considering this benefit, it may be wise to invest in a fixed deposit in the current market. Best of all, there is no dearth of choice as you can find many issuers that offer lucrative terms. One particularly notable instrument is the Bajaj Finance Fixed Deposit, as it has high FD rates and offers investors special tenor options for even greater returns.

To know more about this fixed deposit and how you can leverage the special tenor provision favourably, read on.

Opt for a lengthy tenor and optimise your investment based on your goals

To make the most of your fixed deposit investment, you need to consider 3 things - the amount you invest, the tenor, and the pay-out option you select. A great way to ensure maximum returns is by investing a substantial amount in a cumulative FD for a long tenor.

While issuers offer a non-cumulative pay-out option, the FD rates with this option are generally lower than those offered on a cumulative FD.

So, choosing the cumulative FD is the best way to make the most interest compounding. The simple logic here is that the longer you keep your money invested, the more you earn on it.

To give you a better idea, here's a table with the estimated returns for customers below 60 years of age investing Rs. 3,00,000 in fixed deposit for various tenor options.

Disclaimer: These results are calculated using the Bajaj Finance FD Calculator

With the Bajaj Finance Fixed Deposit, you can also opt for a special tenor. These have a higher interest rate, and earn better returns. The special tenor of the Bajaj Finance Fixed Deposit with their FD rates are as follows:

Ladder your investments and opt for a special tenor to maximise returnsLaddering your investments is a great way to utilise this feature. As a practice, it optimises investments and helps you get invested at various timelines to make the most of favourable FD rates. With the special tenor, this allows you to truly maximise earnings in a given window of time.

Once the tenor is decided and you have the investment corpus finalised, divide that amount and invest in smaller FDs spread throughout the tenor. At this stage, try to align your maturity dates with a tenor option that offers you the best rate.

To help you understand this, consider an investment of Rs.5 lakh in 2 FDs as a customer below 60 years of age. Here, FD 1 would have a tenor 20 months, and FD 2 would have a tenor of 40 months. The interest rates applicable would be 6.65 per cent and 7.50 per cent respectively.

However, if you were to choose to ladder your investments with a special tenor, your earnings are much higher. Meaning, you would have to invest FD 1 for a tenor of 22 months and FD 2 for a tenor of 44 months, and the interest rates applicable would be 7.05 per cent and 7.60 per cent respectively. This difference has a huge impact on your earnings, and here is a table to compare.

Disclaimer: These results are calculated using the Bajaj Finance FD Calculator

Besides these features and perks, you get access to the Bajaj Finance FD calculator. This calculator is easy and convenient to use, giving you an estimate of your returns in just a few clicks. With an estimate at hand, you can smartly plan your investment to ensure that your required goals are met without any hassle. To get started right away, invest online and be sure to opt for a special tenor to maximise your returns and grow your wealth securely.

This story has been provided by NewsVoir. ANI will not be responsible in any way for the content in this article. (ANI/NewsVoir)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Six reasons why you can consider investi...
India's First 6000mAh Battery with 70W C...
Timezone India Celebrates International ...
Bunker demand surges in Sri Lankan Ports...
Azure Power Files Fiscal 2023 Annual Rep...
BigBloc Building Elements receive eligib...
More...
 
INDIA WORLD ASIA
No change of guard ceremony on March 30 ...
'A closed chapter now...': BJP leader Di...
'Absolutely baseless': Former UP DGP dis...
Telangana: Fire breaks out at vehicle du...
'Congress is in fear,' Karnataka LoP R A...
'I am the spider of Guna-Shivpuri:' Unio...
More...    
 
 Top Stories
"Hoping everyone's rights are prote... 
India's First 6000mAh Battery with ... 
A Customized Treatment Approach to ... 
Income Tax Department has issued Co... 
Karnataka CM's son stirs controvers... 
Kejriwal's wife, Sunita Kejriwal la... 
EAM Jaishankar meets Ukrainian coun... 
WV Connect hosts a press conference...