It is always better to invest your surplus savings, rather than leaving them idle. While there are several investment avenues available in the market, Fixed deposits are a popular investment choice, because of lower risk and higher returns. Bajaj Finance Fixed Deposits offer one of the highest interest rates, so you can grow your savings easily.
However, before you consider investing in any fixed deposit, you may be concerned about how safe your fixed deposit is. To understand this better, read on.
DID You Know? Bajaj Finance Fixed Deposit offers assured returns of up to 8.35%*, along with multi-deposit, loan against FD, and auto-renewal facilities. Invest Now
NBFCs and companies often offer a higher interest rate, when compared to bank fixed deposits, which enables investors to multiply their savings easily. However, before you invest in a company fixed deposit, it is best to check the credibility ratings beforehand. In case a company FD is offering a lucrative interest rate, but doesn’t have great credibility ratings, it is best to avoid investing in the same.
Fate of investments above Rs.1 lakh
Your FD investments above Rs.1 lakh in a single bank may not be entirely safe because the cap on deposit insurance is Rs. 1 lakh. So, even if you have FDs in multiple branches of the same bank, all your deposits are totaled and capped at Rs. 1 lakh for insurance purpose. However, there’s a way around this. You can invest and get cover for more than Rs.1 lakh on your FDs if you open them at different banks. In such cases, the deposit insurance applied for each bank will be separate.
On the other hand, it is always best to choose a company fixed deposit with high credibility ratings, so you can be assured of guaranteed returns. Company FDs with high credibility ratings will ensure that there are no delays in interest payments, and your investment amount remains safe.
Safest sector
In India, banks fall under different categories like private sector, public sector, co-operative banks and foreign banks. All these banks offer FDs, and all of them are covered by deposit insurance. Hence, whichever sector bank you opt for, your investment is equally secure.
Diversify your portfolio
It’s wise to diversify your investment portfolio, and an FD is an investment option that has been looked upon favourably for several generations. This is because of the stability and security FDs offer. With competitive interest rates of up to 8.05%, Bajaj Finance Fixed Deposit is a great option.
Additionally, FDs have several other benefits in addition to safety of investment and fixed returns. You can also avail loans against them during a financial emergency. Invest in a Bajaj Finance Fixed Deposit to grow your savings easily, and reap the benefits of high interest rates with flexibility.
DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.
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