95% of Indian households prefer fixed deposit investments for their stability and high returns. The returns and re-runs from your fixed deposits are pre-decided, which can help you plan your investments better. If you are saving for a specific financial goal, maximising the returns of your fixed deposits can be very helpful.
Learn How to Earn from Fixed Deposit and Secure Your Finances
Select a lender with high rates of return
The first step to increasing returns from your fixed deposits, is to select a credible lender, who offers you a higher interest rate. At least 7% or more FD interest rate is ideal for growing your savings, and ensuring high returns. Consider investing in Bajaj Finance Fixed Deposits to ensure higher returns, with stability.
Pick a company fixed deposit
Financial institutions offer company FD, which offer higher interest rates and flexible tenures. These company FDs make it possible to earn more, and offer a suite of different benefits.
Some of the best benefits of company fixed deposits are mentioned below.
Make most of your company FD by choosing the right financier, and opt for the best fixed deposit scheme, as per your financial goals.
Invest in multiple fixed deposits
There are several advantages of investing in multiple fixed deposits:
- Gain from varying rates of interest
- Build a safety net against riskier investments
- Reduce your tax obligations
- Gain higher returns
- Make use of varying maturity period, so you can leverage a lump sum amount of money
You can manage multiple FDs with some useful tips, as given below.
Pick a cumulative fixed deposit
While a non-cumulative FD pays returns on a periodic basis, a cumulative one lets you accumulate interest over the tenure. The sum benefits from compounding of interest and your principal is not reset to its original value after a fixed amount of time has passed. As a result, you are able to earn more from the sum that you have invested.
Retirement Plan by Bajaj Finserv
Re-invest your interest income
To make your earnings from fixed deposits grow, it is important that you keep re-investing the sum that you get at maturity. This will allow you to generate a corpus to make an expensive purchase, such as a house or car.
So, if you are investing in fixed deposits for growing your wealth, understand your lender’s renewal policy to make necessary arrangements. Choose the right financier and increase your gains!
You can plan your deposits in advance using the FD calculator, which helps you find out the best way to grow your savings, before you invest.
Benefits of Bajaj Finance Fixed Deposits
Here are some features and benefits of Bajaj Finance Fixed Deposit:
- Higher interest rates: Bajaj Finance Fixed Deposit offers higher interest rates compared to other fixed deposit schemes. The interest rates can go up to 8.60% p.a.
- Flexible tenures: You can choose a tenure ranging from 12 months to 60 months.
- Assured returns: Bajaj Finance Fixed Deposit assures returns on your investment.
- Multi-deposit facility: You can invest in multiple fixed deposits with different tenures and amounts.
- Online loan against fixed deposit: You can avail of a loan against your fixed deposit online.
- Higher interest rates for senior citizens: Senior citizens get up to 0.25% p.a. extra interest on their fixed deposits with Bajaj Finance.