When it comes to investing, fixed deposits have long been a favoured option for investors looking for stable, low-risk returns. And Bajaj Finance Fixed Deposits are no exception. However, what sets them apart from the competition is their innovative investment approach, which lowers entry barriers for investors.
For those who are unfamiliar, a fixed deposit is a type of financial investment where you lend a sum of money to a bank or financial institution for a specific term. At the end of the term, you receive the original sum along with interest on the investment. The interest rate and terms of the investment are predetermined and agreed upon at the time of investment.
Bajaj Finance Fixed Deposits are similar, but with added benefits and innovations that make them worth considering. This article will dive deeper into what they are, how easy it is to invest in them, the criteria for investment, and how they compare with other popular fixed deposits.
What is Bajaj Finance Fixed Deposit?
Bajaj Finance Fixed Deposits offer a profitable and low-risk investment option in comparison to the volatile stock market. These deposits also provide a safe investment opportunity, as they are not linked to the market’s fluctuations. The interest rate on Bajaj Finance Fixed Deposits is predictable, meaning that investors can anticipate the returns on their deposits.
Moreover, Bajaj Finance Fixed Deposits offer a wide range of tenure and payout features. Investors can choose the term they wish to deposit their funds, ranging from 12 months to 60 months, according to their financial objectives and requirements. With this range of tenure options, investors can select the perfect duration to meet their needs, depending on their plans. Investors can also choose the payout preference from the options available, including monthly, quarterly, or annually.
Additionally, Bajaj Finance Fixed Deposits provide a great investment option for investors who want to diversify their portfolios. Investment diversification helps in lowering risks while balancing risks and returns. Besides, Bajaj Finance Fixed Deposits offer an automatic renewal option, allowing investors to reinvest their funds after maturity. This function provides an opportunity for investors to continue to earn returns on their investments by extending the term of deposit.
Bajaj Finance Fixed Deposits also offer various options for senior citizens, which are highly beneficial. The company offers 0.25% p.a. additional interest rates to senior citizens, making it a compelling investment option for bank deposit alternatives.
Finally, Bajaj Finance Fixed Deposits are highly liquid and offer premature withdrawal options. Investors can withdraw their funds even before maturity, albeit with a small penalty. This feature makes it ideal for investors who require funds at short notice.
How easy is it to invest in Bajaj Finance Fixed Deposits?
Investing in Bajaj Finance Fixed Deposits is incredibly simple and can be done in just a few clicks. Investors can invest in fixed deposits online through the Bajaj Finance website or the Bajaj Finserv app. Customers booking FD online (App/Web) are eligible for an increased interest rate of up to 8.85% p.a.
The process of investing in a Bajaj Finance Fixed Deposit involves the following steps:
1. Open an account on the Bajaj Finserv App or the website
2. Select the fixed deposit option
3. Choose the deposit amount and the investment tenure
4. Choose the mode of payment (online or offline)
5. Provide personal and contact details
6. Apply and make the payment online
Upon successful completion of the process, the investment will be confirmed, and the investor will receive a confirmation through email. Funds will be credited to the account upon successful verification of the payment.
What are the criteria for investing in Bajaj Finance Fixed Deposits?
The criteria for investing in Bajaj Finance Fixed Deposits are very straightforward. Any individual, including senior citizens, NRIs, and corporate entities, can open an FD account with Bajaj Finance. However, the minimum deposit amount varies based on the investor’s age and investment tenure.
For a tenure of 12 months to 60 months, the minimum investment amount is INR 25,000 for general investors and INR 15,000 for senior citizens. For a tenure of 36 months to 60 months, the minimum investment amount is INR 100,000.
What is the benefit of investing in Bajaj Finance Fixed Deposits?
The primary benefit of investing in a Bajaj Finance Fixed Deposit is the high interest rate. Interest rates for Bajaj Finance Fixed Deposits are competitive and can reach up to 8.85% p.a. for customers booking FD online (App/Web). This interest rate is significantly higher than most other fixed deposits offered by banks and other financial institutions.
Additionally, investment in Bajaj Finance Fixed Deposits is very flexible, with a wide range of tenure options, ranging from 12 months to 60 months. Investors can also choose to receive their interest payments monthly, quarterly, or annually.
Bajaj Finance also offers a range of other benefits to investors, including flexible premature withdrawal options, overdraft facilities against FD, and automatic renewal options, making the investment process effortless and hassle-free.
Bajaj Finance Fixed Deposit interest rate vs. popular fixed deposits
To better understand the value of Bajaj Finance Fixed Deposit, let’s compare the interest rates offered by other popular fixed deposits in the market.
First, let’s look at SBI’s Fixed Deposits, which offer interest rates ranging from 2.9% – 5.4%, depending on the investment tenure. HDFC Bank’s Fixed Deposits offer interest rates ranging from 3% – 6.25%, and ICICI Bank’s Fixed Deposits offer rates ranging from 2.5% – 6%.
In comparison, Bajaj Finance Fixed Deposits offer much higher interest rates. The interest rate for investments ranging from 12 months to 60 months is up to 8.35% p.a. While the interest rate increases to 8.45% p.a. for investees between 36 to 60 months, customers booking FD online (App/Web) can avail rates up to 8.85% p.a.
This competitive interest rate, paired with the other benefits mentioned above, makes Bajaj Finance Fixed Deposits an excellent investment option for investors looking for stable, low-risk returns.
Conclusion
In summary, Bajaj Finance Fixed Deposits are an innovative investment option that lowers entry barriers for investors. With a highly competitive interest rate of up to 8.85% p.a. for customers booking FD online (App/Web), flexible investment tenure options ranging from 12 months to 60 months, and flexible premature withdrawal options, Bajaj Finance Fixed Deposits offer excellent returns with minimal risk. Additionally, the process of investing in Bajaj Finance Fixed Deposits is incredibly simple, with users being able to do so through the Bajaj Finserv App or the website in a matter of minutes. Overall, Bajaj Finance Fixed Deposits are an excellent investment option worth considering for investors looking for stable, low-risk returns.
