Bajaj Finance offers two type of FDs based on when the interest is paid out:
This FD scheme offers investors the interest payable at the time when the FD matures.
This FD scheme offers investors interest on a monthly, quarterly, half-yearly or annual basis.
Advantage of a Cumulative FD:
Helps you build a corpus by adding the principal amount invested and the interest over your selected tenure, payable at the time when your FD matures. This may be a minimum of 12 months or go up to 60 months.
Advantage of a Non-Cumulative FD:
Helps you earn interest at regular intervals, thus adding to your income. You may choose the time period during your tenure application, which may be monthly, quarterly, half-yearly or annually.
Here’s how the interest amount will change when you choose a Cumulative vs. a Non-Cumulative FD:
||Rs.4, 59, 153
||Rs.3, 79, 000
||Rs.14, 59, 153
||Rs.13, 79, 000