It is a well-acknowledged fact that idle money is a killer of savings because it does not inherently appreciate and does not beat inflation. It is why investing your savings becomes a crucial step in pursuit of growing wealth. However, choosing the perfect option can be challenging.
Fixed Deposits (FD) and Recurring Deposits (RD) are favourable investment tools financial institutions offer. It is because both the instruments are safe, fixed income and low-risk. But the FD scores better when it comes to earnings with another set of other benefits. Let us look at both investment plans to understand the differences better.
What is a Fixed Deposit?
Generating wealth is a steady process that requires regular saving and investing. The fixed deposit is an all-time favourite investment option for Indian investors. The FD is suitable for all investors, especially because it is a safe tool. Bank FD generally offer lower interest rates as compared to company FD. Company FD like Bajaj Finance offer both safety and attractive FD interest rates.
Here is why the Bajaj Finance Fixed Deposit is a good option.
- Certainty of returns
The Bajaj Finance Fixed Deposit guarantees the highest deposit safety. It has been credited with the highest [ICRA]AAA(Stable) and CRISIL AAA/STABLE ratings by India's leading credit rating agencies.
- Impressive returns
Bajaj Finance FD offers fixed deposit interest rates up to 8.60% p.a. making it one of the highest interest rates any financial institution provides.