How to grow your returns with FD auto-renewal facility?

The accelerating pace of technological change has gone on to revolutionize the way financial industry operates. You can now monitor and track your investments in real-time to deduce the overall returns. Additionally, investment processes have become hassle-free and fast, which can help you invest instantly.

One such beneficial option is the auto-renewal facility that helps you continue your investment for another term, without manual intervention. When you invest in a Fixed Deposit offered by a reputed issuer like Bajaj Finance, you stand a chance to earn a better interest rate when your FD renews.

Features and benefits of the auto-renewal facility

Bajaj Finance Fixed Deposit also offers auto-renewal facility, which you can choose at the beginning of your investment process. By choosing to auto-renew your FD, here are the benefits you can reap:

· Choose auto-renewal facility at the time of investing in your FD. This way, you don’t have to monitor your investment closely or worry about forgetting to renew your deposit when the term ends.

· By opting for this facility, you can avoid the hassle of submitting additional documents or forms to renew a matured deposit.

· When you re-invest your fixed deposit, you earn better returns. Bajaj Finance offers 0.10% extra interest each time you renew your FD, allowing you to grow your investment faster.

· You can re-invest either the principal or the principal and interest, based on your financial needs and goals. In doing so, you retain control over your investment and can get the liquidity you desire as well.

Now that you have understood the main benefits of auto-renewal, take a look at the returns you get via this feature.

Returns that new investors get by auto-renewing an FDBajaj Finance offers one of the highest FD interest rates, which enable investors to grow their savings easily. As a new Bajaj Finance FD investor, you get 8.60% interest on FDs taken for 3 years or more with payouts at maturity.

Here are the returns you earn when you invest a sum of Rs. 1 lakh for a 5-year tenor.

How to grow your returns with FD auto-renewal facility?

When you auto-renew this FD, you get a 0.10% interest rate hike and earn 8.70% return for the new term. Here is what your returns will be if you choose to reinvest the principal and interest.

How to grow your returns with FD auto-renewal facility?

Returns that existing customers get by auto-renewing their FDAs an existing Bajaj Finance customer you get 8.85% interest on your investment, which increases to 8.95% upon renewal.

Take a look at the returns you can earn when you invest a sum of Rs. 1 lakh for a 5-year tenor and reinvest maturity proceeds for another 5 years.

How to grow your returns with FD auto-renewal facility?

Returns that senior citizens get by auto-renewing their FDFor senior citizens seeking guaranteed returns, Bajaj Finance Senior Citizen Fixed Deposit is the best investment option. Senior citizens can earn 8.95% interest on FDs taken for at least 3 years, with interest payable at maturity. Upon being renewed, this FD could yield 9.05% interest.

Look at the returns you will get when you invest Rs. 1 lakh in an FD for 5 years and opt to auto-renew it.

How to grow your returns with FD auto-renewal facility?

In addition to the auto-renewal facility, you also enjoy the following benefits when you invest in a Bajaj Finance Fixed Deposit.

· You can open an FD online, from anywhere, as per your convenience. This feature is available to existing customers and allows you to invest without submitting additional documentation.

· To meet your goals on time, you can ladder your FDs by selecting tenors ranging from 12 to 60 months. Before investing, you can use the FD calculator to forecast maturity proceeds.

· You can also use the multi-deposit facility to invest in several FDs using just one cheque. Moreover, you can vary the investment parameters like the amount, tenor, and interest payout frequency for each FD. Further, during emergencies, you can liquidate a single deposit without having to break all your investments.

· Alternatively, you can also invest in an FD using your debit card at select locations. All you have to do is visit the nearest branch that offers this facility to make an investment.

· To give you access to liquidity during an emergency, Bajaj Finance offers an online loan against FD feature. With it, you can access funds of up to Rs.4 lakh by pledging your FD as collateral.

· Bajaj Finance Fixed Deposit carries highest credit ratings of FAAA by CRISIL, and MAAA by ICRA. These indicate investment stability and guarantee timely payment of maturity proceeds.

Start investing immediately in a Bajaj Finance Fixed Deposit, by investing online or request a call back. You can opt for auto-renewal facility to earn accelerated returns, which can help you grow your savings more.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal