The International Monetary Fund projected a global growth of -4.9 per cent for this year, which is 1.9 percentage points lower than April 2020 forecast.
In this backdrop, being cautious with money is a prerequisite, and investors need to save a portion of their monthly income. Fortunately, despite rate cuts in recent times, Bajaj Finance Ltd, the lending and investment arm of Bajaj Finserv, offers one of the best interest rates of up to 7.35 per cent on their Fixed Deposit.
Both new and existing customers looking to grow their savings can get high FD rates of up to 7.10 per cent, with additional interest rate benefit of 0.10 per cent on investing through Bajaj Finance online FD. This deposit works best for senior citizens who get a 0.25 per cent rate boost with FD interest rates of up to 7.35 per cent.
By picking the right tenor with the FD interest rate calculator, households can plan for their financial goals. To understand how this FD yields one of the best returns, here's a table with earnings forecasted for different customer types, investing Rs 5,00,000 in a Bajaj Finance Fixed Deposit for five years.
From the above table, it can be deduced that customers below 60 years of age, who choose to invest online can not only reap the convenience of an end-to-end online FD process but also get higher FD interest rates. In the above example, the same customer can earn Rs 16,477 more for the same investment amount and tenure, by investing online.
In addition to lucrative returns, Bajaj Finance promises investment safety as it has stability ratings of FAAA by CRISIL and MAAA by ICRA, which are the highest in their respective categories. As the only NBFC with '0 unclaimed deposits' in India, this company ensures timely payments and default-free experience for customers.
Additionally, the convenient Bajaj Finance online FD facility is an end-to-end paperless journey that enables customers to invest from the comfort of their homes.
Keeping these benefits in mind, lock into a Bajaj Finance Fixed Deposit and watch savings grow. Moreover, this investment gives access to liquidity via premature withdrawals and also allows one to avail of an easy online loan against a fixed deposit. This makes it one of the best options to park contingency funds, which can be used over time to fund emergencies.
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( With inputs from ANI )