Nestled in the Bijapur district of Karnataka, Indi offers a unique blend of history and modern development. As you plan your financial future in this vibrant city, securing your savings becomes a priority. Fixed deposits (FDs) emerge as a reliable and low-risk investment option in Indi, allowing you to grow your money steadily.
Understanding fixed deposits
A fixed deposit (FD) is a financial instrument offered by banks and non-banking financial institutions (NBFCs) in Indi. You deposit a lump sum for a predetermined period, typically ranging from 7 days to 10 years. During this tenure, the bank or NBFC pays you a fixed interest rate on your deposit. This interest rate is usually higher than what you would earn on a regular savings account, making FDs an attractive option for those seeking guaranteed returns.
Benefits of fixed deposits in Indi
- Guaranteed returns: Unlike market-linked investments, FD offer a fixed interest rate throughout the tenure. This predictability allows you to plan your finances effectively.
- Flexible tenures: FD are available for a variety of tenures, catering to diverse financial goals. Whether you are saving for a short-term need or a long-term objective, you can find an FD tenure that aligns with your plans.
- Interest rate options: Depending on the bank, NBFC, and chosen tenure, you can compare and choose FD with competitive interest rates. Some institutions may offer special rates for senior citizens or specific deposit amounts.
- Regular income option: Certain FDs provide the option to receive interest payouts periodically, like monthly or quarterly. This can help supplement your regular income or cater to recurring expenses.
Features and Benefits of Bajaj Finance Fixed Deposit
1. Attractive returns up to 8.65% p.a.
Bajaj Finance FDs offer competitive returns that remain stable despite market fluctuations, making them a secure investment choice.
2. Higher FD rates on special tenures
Specialised rates are provided for specific periods of 18, 22, 33, 42 and 44 months, offering chances for enhanced profits.
3. Increased FD rates for senior citizens
Citizens above 60 years of age, get an additional interest rate of up to 0.40% p.a. for a more rewarding retirement income.
4. Highest credit ratings
Bajaj Finance FDs hold top tier [ICRA]AAA (Stable) and CRISIL AAA/STABLE ratings, guaranteeing a secure environment for your deposited funds.
5. Loan against fixed deposit
Rather than withdrawing an FD prematurely, Bajaj Finance offers loans against it. Up to 60% of non-cumulative or 75% of cumulative FD values can be borrowed, allowing investors to maintain their deposits while accessing needed funds.
