/ -- Recent insights from the RBI, AMFI, and Mint research show that as stocks have fallen into freefall, investors have put on their safety jackets. Comparing data of February-April 2019 with data of this year for the same period reveals that the inflow into term deposits have increased and so have the outflows from liquid/money market funds and other debt funds. With the present-day crisis casting a shroud over the economy, the offer of assured returns with online fixed deposit is extremely attractive.
Guaranteed returns with Fixed Deposit
While market-linked instruments can generate high returns, past performance does not guarantee future yields. Thus, there is a need to choose safe, fixed-income instruments like fixed deposit to get guaranteed returns.
However, the government has reduced repo rates, which have impacted savings accounts and FD rates in India. Additionally, even rates for small saving scheme rates have been cut for the April-June 2020 quarter. The table below shows the latest interest rates:
Public Provident Fund
National Savings Scheme
Senior Citizen Savings Scheme
Several financiers have reduced their fixed deposit interest rates too, with FD interest rates now averaging 6%. In comparison, the Bajaj Finance FD offers attractive interest rates of up to 7.60% for new customers, up to 7.70% for existing customers and up to 7.85% for senior citizens who choose tenures of 48 months or more. Also, there is no risk of loss of capital, especially as Bajaj Finance carries the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. The company's ever-growing deposit book of more than 20,000 crores with 2,35,000+ unique customers is also testimony to the trust investors have in the company.
What's more, Bajaj Finance offers the convenience of an easy, paperless online FD procedure to existing customers, who can invest within a few minutes without the hassle of having to step out of their homes. For new customers, the company is offering a facility for doorstep document collection and contactless deposits. Thus, investing in a Bajaj Finance Fixed Deposit is easy and convenient.
Customers can also opt for an auto-renewal facility for their FD right at the time of investment, saving them multiple trips to the branch or filling out paperwork. This can help one grow their wealth rapidly, and investors can get 0.10% higher FD interest on their deposit.
Additionally, the investors can use the FD interest rates calculator to calculate the interest on their investment beforehand. Fixed and guaranteed returns, a safe environment, and timely interest and principal payouts are what makes the Bajaj Finance FD stand out from other investments.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international 'BBB' with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)