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Sail through market uncertainties by investing in Bajaj Finance Fixed Deposit
The recent increase in market volatilities and fall in investor sentiment have reiterated the fact that we are living in unprecedented times. But managing this crisis boils down to a simple question - Would you let your economic activities be dictated by this economic turbulence, or would you walk undeterred by making informed financial decisions? Even with the economic turmoil around, what makes the latter possible is simply the nature and habit of your savings.
With increased risk in growth-oriented instruments, investors need to move from investing to saving a steady sum in low-risk instruments like fixed deposit, savings accounts and government savings schemes.
Why steady savings are the need of the hour?
Due to the growing uncertainty about fuel demand, oil futures slipped into a negative territory for the very first time. US benchmark S&P 500 plunged into a bear market in record time, and other major global indices were quick to follow suit. Amid massive market volatilities and bleak prospects of the equity market, investors are facing a crisis of confidence.
The debt mutual fund space was already grappling the shocks of downgrades and defaults, when the closure of six debt schemes by a leading mutual fund investment company delivered a cruel blow to investors.
Latest research has indicated that there has been a multifold jump in unemployment numbers in the past few months. Most other high frequency macroeconomic data points indicate the likelihood of a contraction in the coming months, largely owing to a labour shortage and lack of demand in the economy. Although green shoots in the economy have begun to appear, the need for a steady set of savings for every household, is greater than ever before, during these times of economic uncertainties.
Why Fixed Deposit is the best savings option for you?
An ideal savings option must offer safety, liquidity and decent growth, while enabling you to offset risk. You could consider investing in gold, but the sudden increase in gold prices may flatten out, once the uncertainty is over. Gilt funds and Bharat ETF bonds are also good options offering zero default risk, but the returns on these options are market-dependent and subject to fluctuations.
You may consider choosing government savings schemes, where lock-in period is high and the rates on these deposits have been lowered. Savings account can offer higher liquidity, but the interest rates on these are very low, offering very little growth of your savings. And when saving, it is essential to ensure a steady growth of capital. A Fixed Deposit fulfils this need easily, by offering a great balance of deposit safety, attractive FD interest rates and a suite of convenient features to help you save easily.
For those looking to ensure highest safety of their deposit, and a decent growth of capital, Bajaj Finance Fixed Deposit can be an excellent savings option for you. Read on to know what makes this FD the best choice to park your savings safely.
Attractive FD rates up to 7.35%
Bajaj Finance offers interest rates of up to 7.10% on their 5-year FD with additional rate benefits for FD online customers and senior citizens. If you invest online, you can lock-in to interest rates of up to 7.20%, whereas senior citizens can reap the benefit of 0.25% higher rates, enabling them to get returns of up to 7.35% on their deposits.
With these interest rates, you can grow your savings by nearly 40%. To understand how, here's a table showing the returns for different customers on investing Rs. 10,00,000 in a Bajaj Finance Fixed Deposit, for 5 years.
|Customer type||Investment Amount||Tenure||Interest rate||Interest amount||Maturity amount||Growth in savings|
|Non Senior Citizen (investing offline)||Rs. 10,00,000||5 years||7.10%||Rs. 4,09,118||Rs. 14,09,118||40.91%|
|Non Senior Citizen (investing online)||Rs. 10,00,000||5 years||7.20%||Rs. 4,15,709||Rs. 14,15,709||41.57%|
|Senior citizen||Rs. 10,00,000||5 years||7.35%||Rs. 4,25,641||Rs. 14,25,641||42.56%|
You can also determine the returns on your deposit, before you invest, by using FD interest calculator that helps you find your maturity amount, payout amount and maturity date.
Safety of your deposit
By locking your savings in a Bajaj Finance Fixed Deposit, you can be assured of utmost safety of our deposit. With the highest ratings of FAAA by CRISIL and MAAA by ICRA, this is one of the safest avenues for locking your savings. As the only NBFC with '0 unclaimed deposits', Bajaj Finance is known to take every step possible to ensure timely payout of your maturity amount, and interest payouts.
Flexible tenures and convenient features
Bajaj Finance offers flexible tenures of 12 to 60 months, and the option to choose the frequency of periodic interest payouts. You can also choose to renew your deposits and benefit from an additional 0.10% higher interest rate on renewing.
While you can always start saving in this FD with a lumpsum investment amount of just Rs. 25,000, Bajaj Finance also offers the option to save on a monthly basis. With Systematic Deposit Plan (SDP) by Bajaj Finance, you can look to start saving with just Rs. 5000 every month. You can make 6 to 48 deposits, wherein every deposit is like an individual FD. Like a regular FD, the tenures for SDP range from 12 to 60 months. Thus, this option enables you to seek the convenience of a SIP, and get assured returns too. It can be a great savings option for regular savers, looking to build a corpus and grow their savings.
For those looking to save from the comfort of their homes, choosing the Bajaj Finance online FD can be a great option. It is an end-to-end paperless process that makes it possible for you to lock into the prevailing high FD rates, which may see a change in case RBI announces a repo rate cut in the coming few weeks. So, it is best to invest today, and watch your savings enable you to sail through the prevailing market uncertainties.