Short term fixed deposit investments had gone down by 3.25% during the demonetisation in the financial year 2017. Interestingly, this rate has come up over the following years with fixed deposits investments currently contributing the lion’s share of basic statistical returns of financial institutions. With numerous investors choosing fixed deposits as their mode of investment, it is important that they also understand the different benefits which are offered.
Numerous financial institutions offer these secured investment options. Only a few like Bajaj Finance Fixed Deposits have additional benefits that make the investments especially advantageous. These features must be understood properly to avail the maximum benefits under these investment plans.
- High returns: Fixed deposit investments offer high returns to their investors. Any investor opting to invest with Bajaj Finance can avail high returns, which goes up to 8.10% per annum. Numerous factors determine this rate of interest on FDs. It generally includes the age of the investor, existing accounts with the financial institution, etc. Even NRI deposits are offered at high interest rates, provided they fulfil the necessary criteria.
- Low minimum deposit amount: As an investment option, fixed deposit accounts are exceptionally secure. This security makes it a good investment option especially for mid-level earners who do not have to worry about the losses. Consequently, a low minimum investment amount beginning at Rs.25,000 is offered by this NBFC so that any interested individual can invest in these schemes. It can go up to Rs.5 crore.
- Easy renewal: Easy renewal options allow investors to extend their fixed deposit investment tenor, thereby increasing the profit margin. Potential investors who can plan their finances well ahead can also opt for auto-renewal facility. This feature allows an individual to avoid the hassle of applying for renewal by essentially activating it while investing the first time.
- Option for multi-deposit: Bajaj Finance Fixed Deposits allow investors to invest in multiple fixed deposit accounts using a single cheque. Essentially, this saves the hassle of handling numerous cheques and financial details. Additionally, in case the investor requires financial aid suddenly, they can simply withdraw one account. This allows other investments to stay intact and generate revenue.
- Loan options: An exclusive feature offered by only a few financial institutions, Bajaj Finance allows investors to avail high-value loan amounts against their fixed deposit accounts.
Usually, the loan amount that is offered goes up to Rs.4 lakh. It is helpful because while the investment is intact on one hand, investors can still avail financial aid in cases of emergencies. It is important that investors understand how a loan against FD works before applying for this line of credit.
- Easy application: The application procedure along with several payment options ensure that investors do not have to go through any hassle while they invest their money. Investors can simply apply online to open a Bajaj Finance FD.
Additionally, numerous payment options allow investors to choose the most convenient method for themselves. Even NRI deposits can be easily availed as only a few additional documents are required.
- Convenient tenor option: Investors can choose a convenient tenor for their investment since flexible tenors are offered by this financial institution. They have the option to choose any length of duration for the maturity of their FD account, ranging from 1 year to 5 years.
- Senior citizen and existing customer benefits: Bajaj Finance Fixed Deposits are offered with additional perks and benefits for senior citizens and existing customers.
While potential investors can check out the benefits of Bajaj Finance Fixed Deposits, they should also make it a point to calculate the exact revenue that can be generated on their investment. It is easy to calculate the total amount they will get at the time of maturity by using an online fixed deposit calculator.
Any potential investor worried about how to use Bajaj Finance FD calculator should be assured of ease of use. This allows investors to plan their finances based on accurate details of their revenue generation.
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at HighlightStory