Grow your savings with high FD interest rates from Bajaj Finance

Growing your hard-earned money is now easier than it used to be. Thanks to digitalisation, investment opportunities are plenty and much easier to access than before. However, to truly leverage these options, you need to diversify and have a healthy balance between market-linked instruments and those that promise safe returns. A fixed deposit is an […]

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(Source: Bajaj Finance)

Growing your hard-earned money is now easier than it used to be. Thanks to digitalisation, investment opportunities are plenty and much easier to access than before. However, to truly leverage these options, you need to diversify and have a healthy balance between market-linked instruments and those that promise safe returns. A fixed deposit is an excellent option to consider when choosing the latter. With that in mind, a Bajaj Finance Fixed Deposit offers high FD rates across the board and promises to be a stable investment option. FD interest rates are just one of the many reasons to invest in such offerings and to know how it can help you earn profits. Read on.

Invest over a long-tenor

When investing in an FD, the best way to benefit from generous returns is to park your funds over a long period. Thanks to the principle of compounding interest, the longer you stay invested, the better are your returns. Note that the FD interest rates applicable to your fixed deposit may vary based on the tenor. To see the best returns, pick the longest tenor possible. Many banks or NBFCs offer high FD interest rates when the tenor is at least three years or more. Below is an example of how this works and what returns you can expect. The table below shows the returns you can receive on an investment of Rs. 2 lakh with Bajaj Finance FD.

The table clearly shows the difference in earnings, and the longest tenor reaps the most significant returns. So, when the goal is to grow your hard-earned money, a long-term FD is a sensible choice.

Ladder investments and enjoy returns consistently

Laddering is another investment practice you can employ to generate income with your savings. It is a recommended approach as it allows you to align investments with your other financial goals. Here, instead of investing in just one FD, you invest in a staggered pattern, booking multiple FDs. For instance, if you have three goals spread across three years, it would be wise to invest toward each goal accordingly. This way, you aren’t only relying on your savings or income to fund such expenses. With backing from the maturity returns, you can quickly and easily achieve your goals. Laddering requires foresight, but it can work in your favour with enough planning. The Bajaj Finance Systematic Deposit Plan (SDP) allows you to make monthly investments – each locked as a new FD. You can start as low as Rs. 5,000 and choose from a Single Maturity Scheme or a Monthly Maturity Scheme.

Choose the best payout option

When you invest in a fixed deposit, you get to choose the frequency of interest payouts. Financiers have several options available to you, and these range from monthly, quarterly, bi-annually, annually, and in a lump sum. As such, you get to tailor returns based on your goals and grow your savings efficiently. Typically, the lump sum offers the highest returns, and you should pick that if your sole objective is to increase your corpus. Do note that the interest rate applicable on your fixed deposit may vary based on the payout option you choose. It is common for financiers to offer slightly different rates, so check this before investing.

These are a few ways to generate wealth with a fixed deposit efficiently. Now, your only task is to pick the right instrument, such as the Bajaj Finance Fixed Deposit. It comes with high FD rates, up to 7.05% on FDs lasting five years. It also has several features, such as the online loan against FD, the low minimum deposit amount of Rs.25,000, and more. To start your journey today, invest in a Bajaj Finance online FD and enjoy returns from one of the safest instruments in India.

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