home Latest News 4 smart ways to grow your wealth with a Bajaj Finance FD – India TV News

4 smart ways to grow your wealth with a Bajaj Finance FD – India TV News

This post was originally published on this site

4 smart ways to grow your wealth with a Bajaj Finance FD

4 smart ways to grow your wealth with a Bajaj Finance FD

When it comes to your savings, the best approach is to consider investing a portion in a safe and reliable vehicle as opposed to stashing it all in a savings account. A savings account offers minimal interest growth and does not combat inflation effectively, thus causing you to lose money over time. However, by investing in a Fixed Deposit, you can grow your savings steadily and reliably, over a given investment window.

To better understand the value of such an offering, here are 4 smart approaches you can employ, to multiply your savings through Bajaj Finance FD.

Take advantage of the generous FD interest rates on offer

The interest rate dictates the extent to which an instrument yields profitably and this FD excels at bringing in returns. This is due to the fact that you enjoy a generous FD interest rate regardless of the customer type and so, can effectively generate wealth as well as combat inflation.

With the Bajaj Finance FD, you get up to 8.35% as a senior citizen investor and up to 8.10% as a regular investor on FDs with a tenor of at least 36 months and interest payable at maturity. As you’ll notice, this is a lucrative offering and can help you earn significant interest returns for both, short- and long-tenor fixed deposits.

To help you understand this better, take a look at how you can grow your wealth through this FD.

New Customer

Investment amount

Tenor (in months)

Interest rate

Interest earned

Maturity amount

Rs.5,00,000

60

8.10%

Rs.2,38,072

Rs.7,38,072

Rs.20,00,000

60

8.10%

Rs.9,52,286

Rs.29,52,286

Rs.25,00,000

60

8.10%

Rs.11,90,358

Rs.36,90,358

Senior Citizen

Investment amount

Tenor (in months)

Interest rate

Interest earned

Maturity amount

Rs.5,00,000

60

8.35%

Rs.2,46,646

Rs.7,46,646

Rs.20,00,000

60

8.35%

Rs.9,86,583

Rs.29,86,583

Rs.25,00,000

60

8.35%

Rs.12,33,229

Rs.37,33,229

*Results obtained as per calculations computed using an FD calculator

Invest in a long-tenor FD for highest maturity proceeds

Owing to the fact that your investment grows through the power of compounding, the longer you invest, the greater are your returns. Further, considering that this FD’s interest rates peak when the tenor is at least 3 years, to truly maximise your returns, invest in a 3- to 4-year or, ideally, a 5-year FD. Here, interest is compounded annually and with a tenor of 5 years, your corpus flourishes to generate returns equal to 49.3% of the investment corpus.

Further, with a minimum deposit amount of Rs. 25,000, you don’t have to put aside a large corpus to begin your journey. In fact, with the Systematic Deposit Plan, a feature particularly beneficial to those new to investing, you can make monthly deposits as low as Rs. 5,000 and steadily multiply your savings.

Opt for the Auto-Renewal feature to earn even greater interest returns

A particularly smart way to grow your savings, and further ride on the power of compound interest, is to invest in a Bajaj Finance FD and opt for the Auto-Renewal facility. This way, you seamlessly reinvest your finances at maturity and also benefit from the FD renewal bonus on offer. Currently, you get an additional 0.10% on the base rate, allowing you to earn even greater profits, should you choose to reinvest over a long tenor.

Ladder investments efficiently with the Multi-Deposit facility

Another efficient way to multiply your savings and also enjoy liquidity all through the investment window is to ladder investments using the Multi-Deposit facility. Here, you can invest in multiple FDs using a single cheque and have them mature at varying tenors based on your goals. This is a smart way to leverage your savings as you can align them with big-ticket expenses and fund undertakings efficiently with your maturity proceeds.

As you’ll notice, thanks to the interest rate and additional features offered by the Bajaj Finance FD, you can intelligently grow your wealth without much effort. What’s more, this FD has secured the highest credibility and stability ratings and so, you can expect guaranteed returns regardless of market volatility. In fact, Bajaj Finance is the only NBFC to have the ‘BBB’ rating by S&P Global and the FD has both the ‘FAAA’ rating by CRISIL and ‘MAAA’ rating by ICRA.

To get started today, book a Bajaj Finance online FD and await contact from an authorised representative.

Disclaimer: The liability for the article solely rests with the author/brand. The content has not been created or verified by India TV channel and IndiaTVNews.com.