Although there are many ways in which you can grow your wealth, investing your savings in a safe vehicle, like fixed deposit, is the simplest option. Options like an NBFC fixed deposit aren’t linked to the market, and allow your investment to multiply quicker, at an impressive rate, without any risk. What’s more, these FDs also offer conveniences via their many features, making them an easy way for you to achieve your goals.
Read on to know more about how this instrument outshines other options.
Greater flexibility and higher gains in comparison to RDs
When you invest in a recurring deposit, for instance, you are required to stay invested for a minimum of 6 months to a year. FDs have an edge over RDs in this department, as depending on the issuer, you can invest for as short a duration as a week, or as long a tenor as a couple of years. Further, a lump sum investment via an FD translates into higher maturity proceeds.
Superior returns in comparison to SCSS
Senior Citizens Savings Scheme is a sound way for senior citizens to plan their finances for retirement. It offers a regular income, with an interest rate of 8.60%. While this seems substantial, certain FDs offer better returns. For instance, with Bajaj Finance, you can get FD interest rates up to 8.35% as a regular customer and 8.70% as a senior citizen. The additional interest means that you can multiply your money faster and set up an income stream for your golden years by opting for periodic payouts.
To understand your potential earnings, consider the following table. View your maturity proceeds when you invest Rs.5, Rs.10 or Rs.20 lakh for 5 years.
Better liquidity when compared to PPF
A key benefit FDs have over Public Provident Fund is that the former allows for monthly, quarterly, half-yearly or yearly interest payouts. This is not the case with PPF as your investment is locked for a long tenor and partial withdrawals are allowed only after 5 years, subject to certain conditions. On the other hand, periodic payouts from FDs allow you to access funds at regular intervals to meet planned or unplanned expenses. With liquidity available periodically, you can manage your cash flow efficiently without breaking into a sweat.
Heightened investment security as compared to mutual funds
When you invest in mutual funds, you are exposed to volatility and risk. This is because your money is being invested directly into the market. This may generate ample returns over time, but in case of a market low, your finances will certainly bear the brunt. However, when you opt for a reliable NBFC FD that has high credit ratings, you can completely negate the risk.
For example, Bajaj Finance Fixed Deposit has some of the highest stability and credibility ratings, assuring you of timely interest payouts and absolute safety. It has ICRA’s ‘MAAA’ and CRISIL’s ‘FAAA’ rating, both of which are indicative of the issuer’s ability to deliver returns in full, and on time. Further, Bajaj Finance FD is the only Indian NBFC FD with a ‘-BBB’ rating from S&P Global. Also, a total deposit volume of more than Rs. 16,000 crores and 2.5 lakh customers are proof of its reliability.
As you’ll notice, this investment is ideal for both short- and mid-term goals. Further, with the Bajaj Finance FD you can also enjoy value-added features. For instance, you can use the multi-deposit facility to start multiple FDs with just one cheque, or use the auto-renewal option to reinvest at maturity, without submitting extra paperwork or completing formalities.
As these new-age features helps you save time and invest effortlessly, book a Bajaj Finance FD today. All you have to do is request a call by filling the online application form and wait for a representative to get in touch with you.