Invest in AAA-rated Bajaj Finance Fixed Deposit to Get Returns up to 7.85 percent p.a. | Special Tenures for Higher FD Rates

  • | Thursday | 10th November, 2022

Pune, Maharashtra, India (NewsVoir) The fixed deposit has been a trusted, go-to investment for the risk-averse investor, and the recent hike to the FD rates only make it more attractive. It is one of the few instruments that offers the benefit of a fixed income, and it is unaffected by market volatility. Considering this benefit, it may be wise to invest in a fixed deposit in the current market. Best of all, there is no dearth of choice as you can find many issuers that offer lucrative terms. One particularly notable instrument is the Bajaj Finance Fixed Deposit, as it has high FD rates and offers investors special tenor options for even greater returns. To know more about this fixed deposit and how you can leverage the special tenor provision favourably, read on. Opt for a lengthy tenor and optimise your investment based on your goals To make the most of your fixed deposit investment, you need to consider 3 things - the amount you invest, the tenor, and the pay-out option you select. A great way to ensure maximum returns is by investing a substantial amount in a cumulative FD for a long tenor. While issuers offer a non-cumulative pay-out option, the FD rates with this option are generally lower than those offered on a cumulative FD. So, choosing the cumulative FD is the best way to make the most interest compounding. The simple logic here is that the longer you keep your money invested, the more you earn on it. To give you a better idea, here’s a table with the estimated returns for customers below 60 years of age investing Rs. 3,00,000 in fixed deposit for various tenor options. Tenor (in months) FD rates in p.a. Interest earnings Total earnings 16 6.55% Rs. 26,482 Rs. 3,26,482 26 7.25% Rs. 49,126 Rs. 3,49,126 36 7.50% Rs. 72,689 Rs. 3,72,689 Disclaimer: These results are calculated using the Bajaj Finance FD Calculator With the Bajaj Finance Fixed Deposit, you can also opt for a special tenor. These have a higher interest rate, and earn better returns. The special tenor of the Bajaj Finance Fixed Deposit with their FD rates are as follows: Tenor (in months) FD rates (customers below 60 years of age) FD rates (senior citizen) 15 6.70% p.a. 6.95% 18 6.80% p.a. 7.05% 22 7.05% p.a. 7.30% 30 7.35% p.a. 7.60% 33 7.35% p.a. 7.60% 44 7.60% p.a. 7.85% Ladder your investments and opt for a special tenor to maximise returns Laddering your investments is a great way to utilise this feature. As a practice, it optimises investments and helps you get invested at various timelines to make the most of favourable FD rates. With the special tenor, this allows you to truly maximise earnings in a given window of time. Once the tenor is decided and you have the investment corpus finalised, divide that amount and invest in smaller FDs spread throughout the tenor. At this stage, try to align your maturity dates with a tenor option that offers you the best rate. To help you understand this, consider an investment of Rs.5 lakh in 2 FDs as a customer below 60 years of age. Here, FD 1 would have a tenor 20 months, and FD 2 would have a tenor of 40 months. The interest rates applicable would be 6.65% and 7.50% respectively. However, if you were to choose to ladder your investments with a special tenor, your earnings are much higher. Meaning, you would have to invest FD 1 for a tenor of 22 months and FD 2 for a tenor of 44 months, and the interest rates applicable would be 7.05% and 7.60% respectively. This difference has a huge impact on your earnings, and here is a table to compare. Earnings without a special tenor Investment amount Tenor (in months) Total earnings Rs. 2,50,000 20 Rs. 2,77,883 Rs. 2,50,000 40 Rs. 3,18,152 Earnings with a special tenor Investment amount Tenor (in months) Total earnings Rs. 2,50,000 22 Rs. 2,83,258 Rs. 2,50,000 44 Rs. 3,27,028 Disclaimer: These results are calculated using the Bajaj Finance FD Calculator Besides these features and perks, you get access to the Bajaj Finance FD calculator. This calculator is easy and convenient to use, giving you an estimate of your returns in just a few clicks. With an estimate at hand, you can smartly plan your investment to ensure that your required goals are met without any hassle. To get started right away, invest online and be sure to opt for a special tenor to maximise your returns and grow your wealth securely. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

If You Like This Story, Support NYOOOZ



Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Stay updated with all the Pune Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles