Fixed Deposit in Navi Mumbai

In the bustling city of Navi Mumbai, residents have various options for investing their hard-earned money. One of the most popular and trusted choices is the fixed deposit (FD). FD offer a safe and predictable way to grow your savings while enjoying peace of mind.

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 Navi Mumbai

• 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.

In the growing city of Navi Mumbai, people have many choices for saving their money. Fixed Deposits (FDs) are a popular and safe way to grow savings. Many banks and finance companies in Navi Mumbai offer FDs with good interest rates and different time periods to choose from.

Features and Benefits of Bajaj Finance Fixed Deposit

1. Attractive returns up to 8.85% 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.

Eligibility criteria for booking a Bajaj Finance Fixed Deposit

• Nationality: Resident Indians/ Non-Resident Indians (NRIs).
• Investor type: Individuals, senior citizens, minors, sole proprietorships, partnership firms, HUFs (Hindu Undivided Families), clubs, associations, societies, and family trusts.

Documents required

PAN card and any KYC document: Aadhaar card/ Passport/ Driving license/ Voter ID

Conclusion

Fixed deposits in Navi Mumbai present a compelling investment avenue for individuals seeking stability, guaranteed returns, and financial security. With a wide range of options available from various banks and financial institutions, investors can choose FDs that align with their specific financial goals and risk tolerance. By understanding the nuances of FDs, comparing interest rates and features, and carefully evaluating the credibility of financial institutions, investors can make informed decision.