Is Bajaj Finance FD good?

If dropping interest rates keep you from investing in bank fixed deposits, it’s time to think about a firm fixed deposit. A firm fixed deposit is a more rewarding choice since it pays a higher rate of interest. Bajaj Finance Fixed Deposit is an investment tool which specializes in financial well being. A FD Bajaj Finance, for example, provides higher-than-market returns on your savings, as well as extra interest for senior citizens and other advantages.

Continue reading to understand how fixed deposit in Bajaj Finance is the best option.

• Higher profit margins

The high interest rate on FD Bajaj Finance is well-known. Senior citizens receive a greater rate of interest, that allows them to multiply their savings.

• Tenor with a lot of flexibility

Bajaj Finance Fixed Deposit gives you the choice of a flexible tenor ranging from one to sixty months. You should choose the tenor that best meets your budgetary needs. You also have the option of renewing an FD that is about to mature and reinvesting it at a higher rate.

• Option to collect interest payments on a regular basis

You can choose between cumulative and non-cumulative interest payouts on these fixed deposits. You collect interest on a monthly, quarterly, or half-yearly basis in a non-cumulative scheme, making it a good choice if you are retired or need periodic earnings. Your interest is multiplied every year in a cumulative scheme, and you get higher returns at maturity. With the aid of FD Calculator, you can choose a strategy that best meets your financial objectives.

• Tax advantages

Although interest income from fixed deposits is taxable under the ‘Income from Other Sources’ heading, interest income of less than Rs. 10,000 is excluded. Section 80C of the Income Tax Act exempts the amount deposited in a tax-saving fixed deposit, up to a maximum exemption of Rs.1.5 Lakhs per year. Fixed deposit schemes that save money on taxes typically have a 5-year lock-in term.

• High levels of consistency and trustworthiness

ICRA’s MAAA (stable) and CRISIL’s FAAA (stable) give Bajaj Finance Fixed Deposit a reputable ranking. This allows you to rest assured that your investments are safe and that you will receive predictable returns.

• Access to a loan secured by a fixed deposit

You can easily get a loan against FD Bajaj Finance to meet urgent financial needs when you sign up for one. You can get a high-value loan to help you deal with unexpected expenses.

Wrapping Up

Thus, if you’re looking for a risk-free investment with high returns, FD Bajaj Finance is the best choice. You will get guaranteed returns and be able to protect your investment because it is not based on market conditions.

Jennifer Eonflux