Pune, Maharashtra, India (NewsView) Earning high investment returns is a priority for many investors as it helps them get closer to their financial goals. When it comes to investment schemes, most Indian families trust term deposits. There could be several reasons for this, among them the fact that this instrument is safe, reliable and offers regular returns, all crucial factors in any economic climate. Additionally, given the rise in FD interest rates, 2022 seems like the right time to consider adding this instrument to the mix.
In today’s digital age, planning investments and financial growth just got a whole lot easier! Investors can now use FD’s yield calculator tools to accurately predict earnings in seconds. Bajaj Finance Fixed Deposit is a smart option for investors who want to maximize their profits through FD investments. This FD is among the most secure, offers some of the highest rates, and is packed with value-added features. Here’s how investors can optimize their investments to take advantage of high FD rates with Bajaj Finance.
Choose a long term of at least 36 months Bajaj Finance allows investors to choose a term ranging from 12 months to 60 months. Persons under the age of 60 can earn up to 6.80% interest per year on the amount invested depending on the term chosen. The trick to accumulating a large corpus is simple – stay invested for a longer period of time. Selecting an FD with a long investment term results in higher interest rates and higher returns. For example, a term between 36 and 60 months has an interest rate of 6.80% per year against 6.40% per year for 24 months to 35 months and 5.65% for 12 months to 23 months.
To better understand the returns for the selected duration, refer to the tables below.
Consider an investment of Rs. 5 lakh for different terms for investors under 60: Investment term Interest rate Amount of interest* Amount at maturity* 12 months 5.65% pa
Rs. 28,250 rupees. 5,28,250 24 months 6.40% pa
Rs. 66,048 rupees. 5 66,048 36 months 6.80% pa
Rs. 1,09,093 rupees. 6,09,093 60 months 6.80% pa
Rs. 1,94,746 rupees. 6,94,746 *Results are calculated using the FD Yield Calculator available on the Bajaj Finance website.
Make Monthly Contributions through Systematic Deposit Plan The minimum amount to invest in Bajaj Finance Fixed Deposit is Rs. 25,000. Bajaj Finance also offers investors an alternative solution through Systematic Deposit Plan. Here, investors can choose to invest Rs. 5,000 every month. The SDP works like a SIP, but there is no risk of market volatility or economic fluctuation as each contribution registers a new FD at the prevailing FD rates.
This plan offers two schemes, depending on which the interest payments and maturities differ. Here is an overview.
• Single Maturity Scheme: The term of maturity is adjusted for each deposit and the full amount at maturity is paid on a single date. The scheme is ideal if an investor wishes to be paid the full amount at maturity.
• Monthly Maturity Scheme: Each monthly deposit completes its term and the maturity amount is paid monthly. The program is ideal for investors who need cash to meet their financial needs throughout the term. For example, young investors looking to start investing will find this option viable while enjoying regular interest income each month.
Book the FD as a Senior Citizen With a Bajaj Finance fixed deposit, senior citizens or seniors aged 60 and over get higher returns than those under 60. These investors get a supplement of 0.25% per annum on the base rate. The difference is significant and can help investors build a large corpus effectively. With FD interest rates rising, 2022 is an opportune time for seniors looking to get more out of their savings. Interest income can help investors achieve a range of financial goals. Investors can also opt for a non-cumulative payment option and get monthly, quarterly, semi-annual or even annual interest payments. With proper planning, investors can easily set up an income stream through these payment methods.
Here is a table to present the income senior investors can expect when booking a Bajaj Finance FD.
Consider an investment amount of Rs. 5 lakh over different terms: Investment term Interest rate Amount of interest* Amount at maturity* 12 months 5.90% per annum
Rs. 29,500 rupees. 5,29,500 24 months 6.65% pa
Rs. 68,711 rupees. 5 68,711 36 months 7.05% pa
RS. 1,13,381 rupees. 6,13,381 60 months 7.05% pa
Rs. 2,02,916 rupees. 7,02,916 *Results are calculated using the FD Yield Calculator available on the Bajaj Finance website.
The digitization of the financial sector has simplified investing and investors can get started with just a few clicks. Booking with Bajaj Finance is also simple and can be done in minutes. Investors can invest online by filling out a simple form and can use UPI or net banking to complete the process.
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