|Interest Rate||Ranging from 5.65% to 6.75%|
|Minimum Tenor||1 Year|
|Maximum Tenor||5 Years|
|Deposit Amount||Minimum deposit of Rs. 25,000|
|Application Process||Easy online paperless process|
|Online Payment Options||Net Banking and UPI|
A Fixed Deposit (or FD) is one of the most preferred financial instruments, which enables you to invest a lumpsum amount to earn assured returns. The lumpsum amount you invest in FD, remains locked for a specified tenor you choose, during which your savings accrue interest. The interest on your Fixed Deposit is pre-decided and remains unaffected by market forces. Investing in FD can help you reap the benefit of flexible tenors, periodic interest payouts and assured returns.
A Recurring Deposit (or RD) is an investment instrument that helps you deposit savings at regular intervals, until the end of tenor. The interest is accumulated and credited back to the deposit holder, after completion of tenor, which can range from 6 months to 10 years.
While Fixed Deposit and Recurring Deposit have their own advantages, investing in FD is preferred to RD due to the higher returns and flexibility offered by FD.
Here’s a look at some reasons that make FD a better investment product than RD:
Additionally, Bajaj Finance also offers the option to save on a monthly basis with Systematic Deposit Plan with deposits starting just Rs. 5000 per month.
|Particulars||Fixed Deposit (FD)||Recurring Deposit (RD)|
|Deposit Frequency||Deposit a fixed amount, for a fixed tenor||Monthly|
|Tenure||12 Month to 5 years||6 months to 10 years|
|Minimum deposit||Rs. 25000||Rs. 1,000|
|Suitable for||Salaried individuals and pensioners, etc.||Housemakers, students and freelancers, etc.|
|Auto-renewal option||Auto-renew your FD with additional rate benefit of 0.10%||Unavailable|
For those looking for a one-time deposit and a convenient savings option, investing in a Bajaj Finance Fixed Deposit can be a great option, as you can reap the benefits of greater flexibility and lucrative returns.
You can reap the benefit of attractive FD interest rates of up to 6.75%, which can help you create a corpus, to fund your financial goals easily.
With the highest safety ratings of FAAA by CRISIL and MAAA by ICRA, Bajaj Finance is a great option for those looking to grow their savings with a Fixed Deposit or Systematic Deposit Plan. Make a smart choice with Bajaj Finance, and lock into attractive interest rates today.