Good teachers add value to their students’ life, honing their skills to help them excel in every domain. This Teacher’s Day, apply simple learnings from the market and take educated steps towards financial growth.
Given the current economic scenario with the repo rate almost at a static 4%, it is vital for you to select the right options to allow your savings to thrive. While you can distribute your money across a mix of high-risk and low-risk instruments like SIPs, post office schemes, bonds, and pension plans to fetch you good returns over time, FDs are a must in your financial portfolio.
The fixed deposit in this regard is certainly a smart choice, as it assures you of lucrative returns with interest rates up to 6.75% without any risk.
Here are some lessons to follow when investing in this FD to grow your wealth.
Start early to benefit from compounding
Starting on your investment journey early and for longer durations allows you to earn more at maturity. When it comes to an FD, investing for a lengthier tenor allows you to benefit from the power of compounding interest. This gives you a chance at accumulating a substantial payout.
Align investments with your goals
Given high inflation and growing lifestyle expenses, plan investments keeping tomorrow in mind. Align your investments to your short-and long-term goals. This may be buying a new four-wheeler, purchasing a home of your own, going on a year-end family vacation, or planning your child’s college expenses. Once you know what you want to do in the future, it is easier to put a number to it. Ensure that you inflate the sum by 5-6% to account for increasing costs in the future and then invest keeping the benchmark in mind.
Earn more with high FD interest rates offered by Bajaj Finance. To estimate your returns even before you choose to invest you can simply use the Bajaj Finance FD calculator by choosing your investment amount and tenor and you can predict your returns with ease.
Choose a credible investment tool
Safety of investment is a vital aspect to consider while choosing where to invest. While market linked instruments may yield higher returns, they are high risk investments. However, Bajaj Finance’s Fixed Deposit is one of the sound instruments that gives your money the growth push of a risk-attached instrument and still offers you guaranteed returns clear of market fluctuations.
Here’s a look at the returns you can get on your Bajaj Finance FD based on your profile and investing method*.
· Deposit amount: Rs.4,00,000
· Tenor: 5 years
*This calculation was done using the Fixed Deposit Calculator.
Awarded ICRA’s highest MAAA rating and CRISIL’s highest FAAA rating, the Bajaj Finance FD is a name you can trust. Once you invest, your money is never at risk. Market volatility does not apply, and you can rely on the guaranteed payout.
Make small monthly savings
Unpredictable expenses can make it harder to save up a lump sum. You can opt for the Bajaj Finance Systematic Deposit Plan to invest with ease every month. This plan works like an SIP, but without the risk. You can invest just Rs. 5,000 every month for a tenor ranging between 12 and 60 months. Each contribution is treated as a new FD and with each maturing at different dates, you can look forward to steady payouts all through.
Along with all these assured benefits, you can also choose the auto-renewal facility at the time of booking an FD. This helps you ensure constant growth of your funds, without having to monitor them all the time. Another notable perk of the Bajaj Finance FD is the freedom of investing online, from anywhere and at any time. Doing this is not only convenient, but also fetches you higher interest returns! So, this 5th of September, make the most of these lessons. Consider investing in a Bajaj Finance online Fixed Deposit to grow your wealth.