4 min
18-May-2024
Nestled amidst the bustling metropolis of Delhi NCR, Gurugram offers a vibrant lifestyle and a dynamic business environment. For residents planning their financial future, fixed deposit (FD) emerges as a compelling option.
Understanding fixed deposit
An FD is a financial instrument offered by banks and non-banking financial companies (NBFCs) in Gurugram. You invest a lump sum amount for a predetermined period (tenure) at a fixed interest rate. Upon maturity (the end of the tenure), you receive your principal investment along with the accrued interest. Here is a breakdown of the key characteristics:
- Guaranteed returns: Unlike market-linked investments that fluctuate, FDs offer a pre-determined interest rate, ensuring a fixed return on your investment regardless of market conditions. This allows for predictable financial planning, especially for planned expenses.
- Flexibility: Financial institutions offer various FD tenures, ranging from a few days to several years. This allows you to tailor your investment to your specific needs. Whether you are saving for a short-term goal or a long-term one like retirement planning, you can choose a tenure that aligns with your financial horizon.
- Regular income option: Some FDs offer periodic interest payouts (monthly, quarterly, half-yearly, annually or at maturity). This provides a regular flow of income, which can be helpful for meeting ongoing expenses or supplementing your existing income stream.
Features and benefits of Bajaj Finance Fixed Deposits
- Competitive returns
Bajaj Finance offer competitive interest rates of up to 8.65% p.a., offering significant growth potential for your investments regardless of market fluctuations. - Special tenures
Baja Finance offer higher interest rates on their FD for specific deposit durations, such as 18, 22, 33, 42, and 44 months. - Additional rates for senior citizens
Senior citizens receive an extra interest rate boost of up to 0.40% p.a., making these fixed deposits particularly attractive for them. - Top safety ratings
Bajaj Finance holds top-tier safety ratings like [ICRA]AAA(Stable) and CRISIL AAA/STABLE, ensuring exceptional security for your investments and providing you with peace of mind. - Loans against fixed deposit
Bajaj Finance offers loan against your fixed deposit. You can borrow up to 60% of the deposit amount on non-cumulative FD and up to 75% on cumulative FD, allowing you to meet your financial needs while keeping your investment intact.
