Building a healthy retirement fund is one of the most significant long-term goals for almost every household, and it is a smart one to have. It offers well-deserved financial security and allows you to enjoy your golden years to the fullest. Investing in safe and reliable options is your best bet to make this a reality. Instruments like the Bajaj Finance Fixed Deposit are good choices because your money and earnings are secured against market volatilities.
To better understand the value of this investment instrument that can secure your golden years, take a look at the following pointers.
Get access to high FD rates for all investor types
Securing your retirement years doesn’t necessarily have to start early in life, although it is better that you do. In any case, whether you are at the peak of your professional life, close to retirement or a senior citizen, this FD is a wise choice. Bajaj Finance offers high FD rates for both investor profiles. As a citizen aged below 60, you can get interest rates up to 6.80% across a range of tenor options. On the other hand, senior citizen investors can get up to 7.05% on their deposits.
To help you understand how this FD can help you build a healthy corpus for your golden years, take a look at the following tables.
1. Citizen aged below 60
2. Senior citizen investor
These tables give you a clear idea of what you can expect with these high FD interest rates. This is all through the power of compounding interest and so, starting during your working years gives you more time to build a sizable fund.
Start investing early without any problems
A notable feature of the Bajaj Finance FD is that you can start investing without saving a massive amount beforehand. The minimum deposit amount is Rs.25,000, so you can start small and build the fund from there. In fact, due to the low deposit amount, you can take advantage of laddering and invest in multiple FDs easily. This way, you can either have them all mature on a single date and get a lump sum or have them reinvested to continue growing in the backlines. The affordable minimum deposit amount allows you to get started at the earliest, which is highly beneficial for younger investors who want to get started right away.
Create a consistent stream of income even after retirement
Another way to secure your retirement years is to create a steady income stream after you retire. The Bajaj Finance online Fixed Deposit is an excellent choice for senior citizens at this stage in their lives because it offers four payout options. These are monthly, quarterly, half-yearly, and annual payout options. Based on the option you go with, your money will accrue interest at a specific rate, and you get the interest earnings periodically. These earnings can be used to fund monthly or recurring expenses.
Take a loan against your deposit during emergencies
In instances where you may need money after it is invested, you can avail of a loan against your deposit. Bajaj Finance offers up to 75% of the FD value as a loan, which you can use to tackle emergencies without interrupting your FD.
With all these features at your disposal, the Bajaj Finance online Fixed Deposit is an incredible tool to build a retirement corpus at any stage in your life.