Business Wire India
Amid significant market volatility and times of uncertain economic outlook, the fixed deposit stands out as a must-have instrument, vital to the good performance of every investment portfolio. The worrying factor for FD investors, however, is that in the recent past, the RBI’s repo rate has been on a downward trend. The ripple effect of a slashed repo rate normally surfaces in the form of reduced FD rates. Currently the repo rate stands at 4% and as per predictions, investors could be looking at a repo rate as low as 3.5% or even 3% in FY 2021.

With instruments like the Bajaj Finance Fixed Deposit still offering generous FD rates of up to 6.85%, it makes sense to lock-in at the current rate and enjoy impressive returns for a long tenure. What’s more, investors can set up an online FD, from the comfort of their home in no time at all, to earn at the current rate conveniently and without hassles.

Here’s more on locking-into the current fixed deposit rates with a Bajaj Finance FD.

Grow wealth at up to 6.85%

Bajaj Finance offers FD interest rates of up to 6.85% to senior citizens and up to 6.70% to individuals under the age of 60 for FDs taken with payouts at maturity. Investors below the age of 60 can earn an additional 0.10% on FD interest rates of 6.60% when they invest in an online FD.

Here is a table generated with the FD interest calculator that indicates how much one can earn if they secure the current rates.

Type of FD	Investment amount	Interest rate	Tenure	Maturity amount	Growth of investment
Senior citizen (offline/ online)	Rs.1,00,000	6.85%	60 months	Rs.1,39,275	39.28%
Non-senior citizen (online)	Rs.1,00,000	6.70%	60 months	Rs.1,38,300	38.30%
Non-senior citizen (offline)	Rs.1,00,000	6.60%	60 months	Rs.1,37,653	37.65%

For investors opting for periodic interest payouts, the FD rates are marginally lower. For instance, one will be able to see that on the FD calculator, monthly interest is earned at 6.64% as opposed to interest rates of 6.85% that one can receive on payouts received at maturity, or on an annual basis.

Earn securely to achieve all goals

Building wealth for one’s goals is convenient with a Bajaj Finance FD for multiple reasons:

1. Investors take on little to no risk: This company FD enjoys the CRISIL FAAA and ICRA MAAA ratings, both indicating that it is a stable and credible instrument.
2. Investors can invest flexibly: With a tenure of 12 to 60 months investors can align their payouts according to their requirement or goals.
3. Investors can opt for FD auto-renewal: Here, investors not only save the hassle of filling up fresh forms but can invest for more long-term goals.