If falling interest rates are stopping you from investing in bank fixed deposits, it is time you considered a company fixed deposit. With a higher rate of interest, a company fixed deposit is a more rewarding option. The Bajaj Finance Fixed Deposit is one such option that offers higher than market average returns on your investment with additional interest for senior citizens, along with other benefits.
Read on to find out why this fixed deposit is the ultimate solution.
1. Higher returns
Bajaj Finance Fixed Deposit is renowned for its high-interest rate. Senior citizens benefit from a higher rate of interest, which helps them multiply their savings.
Additional Read: How to earn more from your fixed deposit?
2. Flexible tenor
Bajaj Finance offers you the advantage of choosing a flexible tenor between 12 and 60 months. You can go with a tenor that best meets your financial requirements. You also have the flexibility to renew a maturing FD and re-invest it at a higher interest.
3. Choice to receive periodical interest payouts
These fixed deposits offer you a choice between cumulative and non-cumulative interest payouts. In a non-cumulative scheme, you receive interest monthly, quarterly or half-yearly, making this a good option if you are retired or need period earnings.
Your interest gets compounded every year in a cumulative scheme, and you receive higher returns at maturity. You can choose a plan that best suits your financial goals with the help of an FD Calculator.
4. Tax benefits
While the income earned from fixed deposits is taxable under the head Income from other sources, any interest income that does not exceed Rs. 10,000 is exempted. The amount invested in a tax-saving fixed deposit is exempted under Section 80C of the Income Tax Act, with a maximum of up to Rs. 1.5 lakh per year and usually have a lock-in period of 5 years.
5. High stability and credibility
Bajaj Finance Limited has a stable ICRA’s MAAA (stable) rating and CRISIL’s FAAA/stable, which keeps you secure of your investments and its assured returns.
6. Access to loan against fixed deposit
When you sign up for a Bajaj Finance Fixed Deposit, you can quickly get a loan against FD to meet urgent financial needs. You can get a high-value loan that helps you cater to emergencies efficiently.
Thus, if you’re looking for a risk-free investment that offers high returns, the Bajaj Finance FD is your best choice.
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