Fixed Deposits (FDs) are one of the safest investment instruments in the financial market as they offer assured returns and let you build on your savings over a fixed period.
To ensure a secured future for your little one, invest in FDs. It will help you fulfil your child’s dreams, without having to take out money from your savings.
Fixed Deposits offer a higher rate of interest compared to saving accounts, ensuring better growth for your hard-earned money. With fixed deposits, you can secure your child’s future by paying for a professional course and fund education.
Fixed Deposits: How They Work?
Fixed Deposit is an investment instrument offered by banks and NBFCs that offers a higher interest rate compared to saving accounts until the date of maturity. You’re eligible to take a loan against the money you Invest In The FD Scheme. You can also opt for premature withdrawal, if the need arises.
Let’s look at how this works:
Suppose you deposit an amount of Rs. 2 lakh for 60 months at 7.6%. At the time of maturity, you’ll get an amount of Rs. 2,91,831. You either can take the money out or renew the scheme for an extended period. You can get higher rate of interests on renewing Bajaj Finance Fixed Deposits.
Why to Invest in Fixed Deposits?
You receive just 4% interest rate on your savings account, whereas fixed deposits with Bajaj Finance help you earn higher interests. Investing in fixed deposits can hence, be more profitable and help you ensure a safe future for your child.
You need to invest just once and you can keep renewing your FD, which will ensure that your base amount keeps increasing each time. This results in higher interest amount that can be utilized properly to ensure a safer future for your child.
If you invest early, you can reap more profits and grow your wealth to cater to your child’s future. You can start investing with just Rs. 25,000, which grows periodically.
Features of Fixed Deposit Schemes:
You can also utilize the FD Calculator to compute the total returns you can get on your fixed deposits. The easy-to-use FD calculator can be utilized with the following steps: