Fixed Deposit Beginner

Will investing in Bajaj Finance FD grow your money?

Bajaj finance FD

About Bajaj Finance FD

In a nation obsessed with savings, FD interest rates are much talked about, with investors eager to eke out that extra percentage interest to grow their money. Bajaj Finance Ltd, a subsidiary of Bajaj Finserv, is a respected non-banking financial company with good credit ratings. The NBFC currently offers interest rates of 7.11% to 8.20% for a tenure ranging from 1-5 years with a minimum deposit of ₹15,000 (Information as of March 2023). Please refer to the website for more details.

Here’s a guide to how you can invest in Bajaj Finance FD

Steps explained

Here’s a simple guide on investing in an FD online with Bajaj Finance.

  1. Your first task is to find the official website. Then, you should tap on the Fixed Deposit option under investments.
  2. After that, hit the ‘Invest Now’ button.
  3. You must fill out the online application form, which needs minimal information.
  4. You must give the KYC details. After that, you need to verify it with OTP.
  5. When you open the investment detail tab, you must fill in the initial deposit amount. Then, you should choose tenor and payout frequency.
  6. Finally, you must use your Net Banking and UPI to invest money.

As an investor, you can apply for a collateral-free loan against a fixed deposit. Getting a loan is also possible for up to 75% of the FD value. It can provide investors with the liquidity to meet urgent requirements. The end-to-end online method enables you to get benefits from a contactless investment process. Thus, you can invest from your home. Customers can complete the online FD form and book the fixed deposit within a few minutes.

Financial planning is essential to ensure you have made the correct decision to grow wealth. Increasing your savings is possible without worrying about risk or safety with FDs. The FD calculator lets you plan your investment to get your preferred returns.

Benefits of investing in Bajaj Finance FD

Capital protection

The Bajaj Finance fixed deposit has the highest credit ratings — CRISIL AAA/STABLE and (ICRA), AAA (Stable).

The feature is vital in an unstable economy when market fluctuations result in capital loss. Bajaj Finance fixed deposit ensures the safety of your investments.

High stability

Bajaj Finance is an NBFC that enjoys S&P Global’s international BBB rating. Besides, it also enjoys investors’ trust as a safe investment avenue.

Guaranteed returns on investment

The company allows you to start your investment from ₹15,000 for the maximum fixed deposit period of 12-60 months. Senior citizens can earn interest rates of up to 8.20% per annum, while regular investors earn up to 7.95% annually.

The interest rate will remain fixed for the tenure of the fixed deposit, irrespective of the market situation. You can use the FD calculator on the official website to know about the returns before investing.

Flexible tenures

NBFCs typically offer higher interest rates than banks.

Bajaj Finance FDs come with assured returns and are less risky. The FDs come with tenures ranging from 12 months to 60 months. With an investment as small as ₹15,000, one can earn interest of a maximum of 8.20% p.a.

If you want monthly income to pay your installments or meet expenses, Bajaj Finance FDs offer monthly or quarterly payouts. But you should know that the tenure you choose for the investment will affect the fixed deposit rates. Therefore, if you choose a longer tenure, it will give you higher returns.

Conclusion

Individuals can invest in Bajaj Finance FD via online and offline modes. If you wish to invest offline, you must go to the nearest branch of the Bajaj Finance office. You should fill out the FD form. But if you want to invest online, go to the Bajaj Finance website. Instead, you can download the company’s official app and complete the online form. When you invest online, you can save time and effort as you don’t need to visit the branch of Bajaj Finance Limited. Remember that you need to fulfill these criteria to be eligible to invest in Bajaj Finance FD:

  • Resident Indian citizens
  • Hindu Undivided Family (HUF)
  • Sole proprietorship
  • Partnership firms

FAQs

What is the highest interest rate on Bajaj Finance one-year FD scheme?

As of March 2023, you can earn up to 7.65% interest for a one-year fixed deposit with Bajaj Finance Ltd. If you are a senior citizen, you can earn up to 7.90% for the same period.

What is Bajaj Finance FD scheme interest rate for five years?

The interest rate for the scheme for five years is 7.65% per annum for regular citizens and 7.90% for senior citizens. However, for a 44-month tenure, one can enjoy 7.95% on regular deposits, while senior citizens can enjoy a slightly higher 8.20% as of March 2023.

What is Bajaj Finance FD’s minimum deposit amount?

₹15,000 is the minimum investment amount in Bajaj Finance FD. But you should know that the maximum investment amount in Bajaj Finance FD is unlimited.

Is Bajaj Finance good for FD?

Yes, Bajaj Finance Fixed Deposit is a popular and safe choice offering high interest rates, making it attractive for risk-averse investors seeking reliable investment options.

What is the FD rate in Bajaj Finance today?

As of today, Bajaj Finance offers attractive fixed deposit interest rates, with rates up to 8.60% p.a. for senior citizens and up to 8.35% p.a. for non-senior citizens.

Is FD good for investement?

Yes, Fixed Deposits (FDs) are a reliable investment option with guaranteed returns, stability, and ease of starting. However, they may have lower returns compared to market-linked investments.

Disclaimer: Fixed deposit products are generally considered safe investments as they are not subject to market fluctuations. However, investors are advised to exercise caution while investing in FDs. Risks include the financial position and solvency of the issuing company/entity during the tenure of the deposit. The facts mentioned in this article are for informational purposes only and should not be considered investment/financial advice from CoinSwitch.

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