All About the Term Deposit Interest Rates from Bajaj Finance

interest rates

When it comes to fixed deposits schemes in India, Bajaj Finance offers the best term deposit interest rates. It is a company FD that has received the highest ratings from ICRA and CRISIL for securing depositor’s money. Therefore, you don’t have to contemplate whether it’s beneficial to invest your savings in it or not. 

Apart from providing high returns, it also provides other benefits like flexible tenor, loan against FD, online investment procedure, etc. Let’s look at some of these benefits in detail now:

Highest FD rate 

The returns from an FD depend very much on its interest rate. Bajaj Finance provides interest rates of up to 6.85% which is one of the highest interest rates currently.

It also provides an additional rate of 0.25% to senior citizens and a 0.10% extra FD rate is given if you invest in its FD plans via an online FD form. With these high interest rates, your deposits will attract substantial interest up to maturity.

Suppose you want to invest Rs. 10,00,000 in an FD for 4 years. With bank FDs, you will get an interest rate of 5.5% at the maximum whereas your deposits will grow at a higher rate with a Bajaj Finance FD.

See the below table to find out the actual difference in returns created by its better FD interest rate:

FD plan Deposit Amount Tenor FD rateInterest earnings Maturity amount 
Bajaj Finance FDRs. 10,00,000 4 years5.5%Rs. 2,44,210Rs. 12,44,210
Bank FDRs. 10,00,000 4 years6.85%Rs. 3,03,461Rs. 13,03,461

You can see that there is quite a difference in returns when you invest your savings in the Bajaj Finance FD. 

Calculating returns 

Calculating returns is important as it determines if an FD plan can provide sufficient interest gains to fulfill your financial goals. As the interest of an FD gets compounded after every quarter, calculating the maturity amount can be a daunting task. 

To assist you while calculating the FD returns, Bajaj Finance has provided an FD calculator on its website. This online fixed deposit calculator will show the applicable interest rate as per the tenor, customer category, and amount chosen by you. 

Moreover, you will also get a clear idea about the kind of returns you will get at maturity. Therefore, it proves to be helpful while planning your finances. 

Systematic Deposit Plan 

Bajaj Finance also provides Systematic Deposit Plan (SDP) for those who want to earn good returns by investing a fixed amount every month.

As per this deposit plan, you can deposit Rs. 5000 or in multiples of it each month and the total deposits can be between 6 and 48 as per your choice. Each deposit will grow at the interest rate that prevails on the deposit date. 

Also, you can either choose a single date for all the deposits to mature or each deposit can be locked-in up to 60 months. This plan enables you to grow your wealth without investing a lump sum amount.

To multiply your investment without subjecting it to market risks, you can invest in Bajaj Finance FD. The Bajaj Finance FD rates are high up to 6.85% and you also get an additional FD rate of 0.10% for choosing the online investment procedure. Senior citizens are eligible for an extra 0.25% interest rate. Apart from a high FD rate, you also get a flexible tenor ranging from 12 to 60 months and many other benefits like loan against FD and multi-deposit facility. You can estimate your returns via a fixed deposit calculator to check whether it is worth investing in an FD scheme or not. If you don’t want to deposit all your money at once then you can invest in its Systematic Deposit Plan that helps you to earn substantial returns by depositing a fixed amount every month. 

Author Bio:

Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: