Business Wire India
FDs can be traced back to the time when banking system was first brought into action in India. A traditional investment option that offers guaranteed returns, it is no wonder that fixed deposit remains to be one of the most popular avenues to grow your wealth. Whether you are self-employed or salaried, FDs safeguard your hard-earned corpus and allow you to earmark your earnings right down to the last penny.

Fixed deposits are offered by banks and companies. The key difference between bank deposits and company FDs is the interest they offer on your investment. Company FDs usually come with a higher interest payout. To keep your interest safe, you can choose company FDs with a high safety rating. Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, offers Fixed Deposit that comes with attractive FD interest rates of upto 8.70%, so you can easily multiply your savings.

You can use your fixed deposit maturity amount to achieve your long-term goals, be it financing the higher education for your children, taking care of your retirement expenses, saving for your home’s down payment and more. Read on to know more about Bajaj Finance Fixed Deposit:

What is a fixed deposit
A fixed deposit, also known as term deposit, is a financial instrument where you can invest a principal amount to earn a fixed interest return through your chosen tenor. During the tenor, your money is locked-in. To ensure you do not lose out on higher returns on FDs, choose to invest with top NBFCs like Bajaj Finance that offer Fixed Deposits with FD interest rates up to 8.35% for regular customers and up to 8.70% for senior citizens.

Types of a fixed deposit
FDs are primarily of two types: cumulative FDs and non-cumulative FDs. You can differentiate between the two basis the way you can access the interest on your investment. In case of non-cumulative fixed deposits, you earn interest on chosen intervals, be it monthly, quarterly or annual. You can decide the frequency of your interest earnings as per your financial capabilities and access it as a regular income to fund daily expenses.

Alternatively, for cumulative FDs the interest is calculated through a quarterly or annual frequency. Here the interest then gets added to your invested sum. You will get to access this only at the end of your tenor along with the principal amount. The interest on cumulative FDs is higher as your interest gets added to your original corpus and earns you more, which is the power of compounding that FD offer.

Benefits of investing in Fixed Deposit
Fixed deposits are the safest investment avenue in the market, allowing you to pocket a high interest on your investment based on your chosen interest frequency. Picking the right issuer and a smaller frequency helps you generate more growth. Moreover, FDs give you a chance to accumulate funds to achieve your long-term objectives with ease. You can use the FD calculator to forecast the exact amount you earn, and plan your goals confidently.

FDs are a good way to bring financial discipline to the fore, as ideally, you cannot withdraw your investment until maturity. However, when you have an emergency, you can prematurely withdraw your investment by paying a small penalty. Additionally, you can take an affordable Loan against FD to continue earnings interest on your investment while addressing your urgent needs for money.

Contrary to popular belief, investing in a fixed deposit is very easy, with several options to invest in FD online. Bajaj Finance Fixed Deposit offers an easy, paperless online process, wherein you can start investing with just Rs. 25,000. You can also reap innumerable benefits such as multi-deposit facility, auto-renewal facility, and additional interest rate benefits for senior citizens, Bajaj group employees and existing customers.
About Bajaj Finance Limited

Bajaj Finance Limited, the lending arm of the Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 36 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Loans for Professionals, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international ‘BBB’ with stable outlook for long-term, by S&P Global Rating.

To know more, please visit: https://www.bajajfinserv.in