Since the Union Budget presentation, stock market investments have been in the spotlight, resulting in swinging stock indices and high market volatilities. However, senior citizens seeking the stability of fixed-income instruments can choose to invest in a fixed deposit to grow their savings in the safest way.
Where should senior citizens invest?
With the government slashing the interest rates on NSC, PPF and the likes and the Reserve Bank of India cutting down the repo rates, the investment market does not look safe anymore. All the more, the economic instability just adds on to this chaotic situation. Amidst this financial kerfuffle, the senior citizen class of the society have been most severely affected. Even traditional instruments like savings accounts are offering lower returns on deposits.
This is where Bajaj Finance online FD schemes lead the way. Bajaj Finance online FD schemes are easy to invest in, low-risk and offer multiple benefits to the investors. Bajaj Finance FD schemes offer high fixed deposit interest rates (over 7%) to senior citizens looking to grow their savings.
Here is a look at reasons why senior citizens must invest in a Bajaj Finance Fixed Deposit.
Attractive interest rates
Bajaj Finance offers one of the highest FD rates to senior citizens, which is 0.25% higher than the regular FD interest rates. To understand the returns on your investment better, let’s assume you’ve invested Rs. 2,50,000 in a Bajaj Finance FD for senior citizens.
To further increase the returns on your investments, consider auto renewing your deposits, and gain 0.10% hike on existing FD rates. You can also choose to use the FD interest rates calculator.
Safe and solid returns
Bajaj Finance has been awarded the highest safety ratings by both ICRA and CRISIL. As an investor, one could rely on these ratings to judge the organization’s credibility. Bajaj Finance is a reputed financial institution and boasts of having over 2,50,000 clients who rely on them with their savings.
This company FD also has the reputation of having ‘0 unclaimed deposits’ in the market, which is an outcome of process efficiencies. It also indicates the NBFC’s highest commitment towards timely payments and default-free experience.
Flexible schemes
Bajaj Finance offers flexible tenors ranging from 12 to 60 months. What’s more – you can also invest in a Bajaj Finance online FD from the comfort of your home. This end-to-end paperless process enables you to lock into prevailing high FD rates and benefit from a touch-free deposit experience, so you can safeguard your savings with the highest convenience.
For those who wish to invest while earning periodic returns, Bajaj Finance FD offers the option to choose payouts on a periodic basis. On choosing periodic ‘payouts’, you can get regular interest at specific time intervals while earning the principal amount at maturity. This means you can keep your savings amount intact and use the interest on your savings to generate periodic income. This periodic income can help senior citizens fund their regular expenses.
