Chennai, a vibrant city with a rich history and a thriving economy, offers a wealth of opportunities for financial growth. With a diverse population and a focus on financial stability, fixed deposits (FDs) are a popular choice for residents seeking secure, reliable investments.
What are Fixed Deposits?
A fixed deposit (FD) is a safe investment option offered by many financial institutions. You deposit a lump sum for a set tenure at a fixed interest rate. At the end of the term (maturity), you receive your principal along with the accumulated interest.
Features and benefits of Bajaj Finance FD
1. Special tenure
Certain fixed deposit durations (18, 22, 33, 42, 44 months) come with enhanced interest rates. Consider these tenures if they align with your financial goals.
2. Senior citizen interest rates
Bajaj Finance offers an additional interest rate (up to 0.40% p.a.) on fixed deposits for individuals aged 60 years and above.
3. Credit ratings
Bajaj Finance FDs hold [ICRA]AAA (Stable) and CRISIL AAA/STABLE ratings. These high ratings indicate strong financial health and security for deposited funds.
4. Loan against FD
With Bajaj Finance, you may be able to borrow against your fixed deposit instead of withdrawing it prematurely. Limits apply, allowing you to borrow up to 60% of the value for non-cumulative FDs and up to 75% for cumulative FDs.
