How to find the best interest rate for a fixed deposit investment?

As an FD investor, your objective is to earn high returns by taking on little to no risk. The only way to maximize your FD returns is to shop around for the best FD interest rates offered by various issuers and invest accordingly, once you check their credibility.

To get started, it’s important that you’re aware that fixed deposits are offered by banks, post offices, and NBFCs. However, most NBFCs like Bajaj Finance offer higher interest rates on FDs. After two hikes of repo rates in 2018, Bajaj Finance has also increased its FD interest rates to pass on the benefit to its customers. With FD interest rates of up to 8.75% for regular investors and 9.10% for senior citizens for an FD that’s held for at least 36 months, Bajaj Finance is amongst the top FD issuers in India today. Best of all, apart from higher interest rates Bajaj Finance Fixed Deposits also offer various features listed below to help you make most of your investments.

  • Bajaj Finance FDs are highly safe and credible, thanks to the FAAA rating by CRISIL and MAAA by ICRA. So, you can be sure of receiving your principal and interest on time.
  • Bajaj Finance offers two types of FDs to choose from: one where you can get regular payouts and one where you get the entire sum on maturity. In case of the former, you can choose the frequency at which you want to receive payouts. Therefore, consider investing in the right mix of both to address both mid-term and recurring expenses.
  • You can reinvest your FD and earn an additional interest of 0.25% on renewal. So, if you were earning interest of 8.75% previously, you will be able to earn 9.00% on the same FD post renewal.

You can also use the FD calculator to calculate the amount you’ll get on maturity beforehand and ladder your fixed deposit investments as per your goals and needs. You can access an FD calculator in just one click on the Bajaj Finance website. Here is how to use the Bajaj Finance FD calculator to optimize your investment.

How to use an FD calculator

FD Interest Calculator is simple and easy to use. You just have to follow these steps to calculate your maturity amount.

Select the type of customer

Bajaj Finance offers a different interest rate depending on the type of customer. So, start by choosing from a dropdown menu that has variants like ‘New customer’, ‘Existing customer’ and ‘Senior citizen’.

Select the type of deposit

Next, from the dropdown list, select whether you want a lump sum at maturity or want regular payouts.

Select the interest payment frequency

If you have selected the second option, choose your desired interest payout frequency.

Enter the deposit amount

Now, enter an amount or adjust the slider to reflect a deposit amount of your choice. You can start an FD investment with Bajaj Finance with just Rs.25,000. So, keep this minimum cap in mind when feeding in a value.

Enter the tenor

Next, adjust the slider or manually enter your chosen FD tenor. Bajaj Finance offers flexible tenor options ranging from 12 to 60 months. So, you can invest in one FD for 3 years to save for the down payment of a home purchase and choose another FD for 5 years so that you can use the maturity sum to prepay your home loan.

View the result

The calculator then picks up the relevant FD interest rates applicable to you based on the values you have fed in and shows the principal amount, total interest, and maturity amount that you can expect.

So make the most of the features and facilities offered by Bajaj Finance through its fixed deposit and FD calculator to achieve your financial goals with ease.

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