How to Secure Fixed Deposits In India?

The unparalleled level of security provided by FDs makes them the most popular investment options in India. In the case of FDs, depositors are provided with the cover under the depositor insurance program of Deposit Insurance and Credit Guarantee Corporation (DICGC). This means that bank deposits of up to Rs. 5 lakh, including fixed, savings, current and recurring deposits, are covered by insurance, in case of bank failure.

However, in the case of company deposits, you should look for the credit ratings held by them. Agencies like ICRA and CRISIL provide these ratings on the basis of certain safety factors. 

NBFCs are the first choice of risk-free investors, looking for more interest than what banks can offer. Offering the best FD interest rates in India than most banks, only AAA rating agencies should be considered for online investment i.e. FDs.

With CRISIL’s FAAA/Stable rating and ICRA’s MAAA (stable) rating, and as the only Indian NBFC with an international rating of ‘BBB’ by S&P Global, Bajaj Finance tops the list.

Name             FD Rates           W.e.f

Bajaj Finance   7.40% – 7.85%   May 5, 2020

Bajaj Finance Fixed Deposit is the safest investment option to park your savings. You can start investing with a minimum deposit of Rs. 25,000 and enjoy interest rates up to 7.85%. Apart from offering one of the best FD interest rates in India, Bajaj Finance FD provides additional benefits such as:

  • The facility of loan against deposit
  • Online application and maintenance of FD account
  • Allows premature withdrawal, and
  • Auto-renewal facility etc

Here is a list of Best FD interest rates in India offered by various banks and NBFCs on the basis of tenor

Finance

As shown in the table above Bajaj Finance offers the best FD interest rates in India in comparison to other banks. So, at this time of financial crises, investment with Bajaj Finance is a more profitable option. 

Why investing in Bajaj Finance is advantageous?

  • Considering all the best options in FD, Bajaj Finance stands out to be the most profitable as it is offering one of the best FD interest rates in India.
  • Your investments in Bajaj Finance FDs are never at risk because it has CRISIL’S FAAA/Stable rating and ICRA’s MAAA (stable) rating.
  • Bajaj Finance Fixed Deposits offer multiple value-added features such as premature withdrawal, the facility of loan against FD, online application process, etc.
  • Bajaj Finance provides flexible tenures between 12 and 60 months, with options to choose periodic interest payouts.
  • You can start investing in Bajaj Finance Fixed Deposits with a minimal amount of Rs. 25,000 and avail interest rates up to 7.85%
  • Bajaj Finance provides loans against Fixed Deposits. However, the amount of the Loan against FD cannot be more than 75% of FD value.
  • Senior citizens have the privilege of an additional 0.25% rate of interest.

Senior citizen Fixed Deposit Scheme

Bajaj Finance Senior citizen fixed deposit scheme helps you maximize your capital, while also providing a regular income stream. 

  • Citizens above 60 years of age can invest in Bajaj Finance Senior citizen fixed deposit scheme and earn fixed interest to multiply their savings easily. 
  • The rate of interest for the Senior Citizen Fixed Deposit scheme ranges between 7.65% and 7.85%, depending on the tenure and interest payout frequency selected. 
  • It is one of the best investment resort for senior citizens as it is one of the most reliable fixed-income instruments. One can choose the tenor, payout frequency, and investment amount as per his convenience.
  • Bajaj Finance not only provides the best FD interest rates in India but also ensures high safety of your investment amount. 

FD monthly payout calculator by Bajaj Finance

An FD calculator is a useful financial planning aid to help you decide how much capital investment will yield a specific amount on maturity. It is most helpful to understand how you can fulfill a financial obligation and after what duration the money is going to be available to you.

Using the FD monthly payout Calculator, you can easily determine the monthly interest payout of your Fixed Deposit.

How to use Bajaj Finance FD monthly payout Calculator?

  1. Select the customer type: whether you are a new or existing customer or a senior citizen.
  2. Choose the FD type i.e., whether you want a non-cumulative or cumulative FD.
  3. Enter the fixed deposit amount that you wish to invest, along with your preferred tenor.

Once done, the monthly interest payout that you will gain on your FD will automatically show up. 

So why wait? Get guaranteed returns on your investment.- Invest Online

The unparalleled level of security provided by FDs makes them the most popular investment options in India. In the case of FDs, depositors are provided with the cover under the depositor insurance program of Deposit Insurance and Credit Guarantee Corporation (DICGC). This means that bank deposits of up to Rs. 5 lakh, including fixed, savings, current and recurring deposits, are covered by insurance, in case of bank failure.

However, in the case of company deposits, you should look for the credit ratings held by them. Offering the best FD interest rates in India than most banks, only AAA rating agencies should be considered for online investment i.e. FDs.

Harshvarshan Jha
Harsh Vardhan Jha is an Indian business blogger. He believes that Content and Social Media Marketing are the strongest forms of marketing nowadays and also know how to work on. You can contact him...

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