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Know About the Latest FD Interest Rates Before Investing in FD

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Comparing the ongoing FD rates in India is a good habit because it makes you aware of the best FD rates in India. However, along with interest rate, you should also weigh other factors like the credibility of the FD provider, tenor range, investment methods, etc. To know the latest FD rates in India, you can visit the individual websites of banks and NBFCs that are known to offer high-interest rates. The FD calculator that is integrated on their site might help you to find the maturity amount. Plans related to FD investments can be smoothly executed with the help of this calculator.

The bank FD rates are not as high as you would expect. However, corporate FDs will still allow you to grow your idle money at a fast rate. Bajaj Finance FD is a fixed deposit scheme that can grow your investment at interest rates of up to 7.05%. The higher FD rates offered by this FD scheme will work with the flexible lock-in period options to assist your financial needs. Some of the best features provided by Bajaj Finance FD are stated below:

Convenient investment

The process to invest in this FD scheme is both quick and convenient. The online FD form makes the investment process easy whereas the option of completing KYC online makes the process convenient. Also, you will get a 0.10% extra FD interest rate if you opt for this paperless process.

Higher rate to senior citizens

Senior citizens can rely on Bajaj Finance FD to meet their fund requirements because they are eligible for an additional 0.25% interest rate. The option of selecting periodic interest payouts makes it easy for them to take care of their immediate expenses like groceries, mobile bills, electricity bills, etc.

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Compounding returns

The impact of high-interest rates offered by Bajaj Finance FD will be more prominent if you choose the cumulative FD option. It is because the interest that is gathered after each interest calculation period will be included in the principal amount for the next time. With compounded returns, you will be able to streamline your investment goals.

Better investment option

Depositing money in Bajaj Finance FD is a good option because it offers flexible withdrawal rules and easy liquidity. You may withdraw the deposits only after the completion of three months. You will not get such liquidity even in government-backed schemes like the National Pension System (NPS). Also, as the interest rates of fixed deposits remain fixed, you do not have to be confused about the returns.

Bajaj Finance FD offers high-interest rates even if you choose a shorter tenor. For instance, on investing Rs. 25,00,000 in bank, postal, and Bajaj Finance FD for 3 years, you would get the below returns:

FD plan Amount Tenor Interest Rate Interest Returns
Bank FD Rs. 25,00,000 3 years 5% Rs. 4,01,886 Rs. 29,01,886
Postal FD Rs. 25,00,000 3 years 5.5% Rs. 4,45,170 Rs. 29,45,170
Bajaj Finance FD Rs. 25,00,000 3 years 7.05% Rs. 5,41,191 Rs. 30,41,191

Along with high returns, Bajaj Finance FD also offers stability to your deposits. The high ratings of MAAA/stable given by ICRA and FAAA/stable given by CRISIL assure that it is a safe instrument.

The latest FD rates offered by different financiers will give you an insight into the ongoing FD rates. Even though bank FD rates are lower, you can invest in Bajaj Finance FD that is offering the best FD rates in India. Also, your investments are safe in this FD scheme. The flexible tenor, easy withdrawal norms, and convenient online investment procedure make it a lucrative investment opportunity for everyone. A higher FD rate is offered to senior citizens and the FD calculator provides you with a precise estimation of the FD returns.

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