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Best Investment Options in Fixed Deposit 2020

Fixed deposit is considered as one of the safest investment plans as it lets the investor earn decent interest on the deposited amount over a fixed period of time without any risk. FDs offer greater returns on the principal invested in comparison to the returns generated from a regular savings account. The FD investment period can either be short or long depending on a customer’s investment portfolio. The fixed interest rates on FDs vary from one company or bank to another. 

Bajaj Finance FD investment plan is considered as one of the most decent blends of safety and returns in the Indian investment industry. Offering up to 7.85% fixed interest rate on FDs Bajaj Finance carries the highest stability ratings of FAAA by CRISIL and MAAA by ICRA. Along with this, Bajaj Finance prides itself as being the sole Indian NBFC to have BBB – ratings by S&P Global.

Best investment options in Bajaj Finance Fixed Deposits

Fixed Deposit for new customers

  • Deposit amount for a set tenor and earn fixed interest rates up to 7.60%
  • Tenor ranges from 12 to 60 months
  • Choose to get interest payout at maturity, or prefer periodic payouts

Fixed Deposit for Existing customers

  • This FD is applicable for people who are Bajaj Finance limited customers or Bajaj Allianz life insurance existing policyholders
  • Existing customers gain 0.10% higher fixed interest rate
  • Deposit amount for a set tenor and earn fixed interest rates up to 7.70%
  • Tenor ranges from 12 to 60 months
  • Choose to get interest payout at maturity, or prefer periodic payouts
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Fixed Deposit for Senior citizens

  • This FD is applicable for people who are above 60 years of age
  • Senior citizens gain 0.25% additional rate of interest
  • Deposit amount for a set tenor and earn fixed interest rates up to 7.85%
  • Tenor ranges from 12 to 60 months

Fixed Deposit for NRIs

  • This FD is applicable for non-resident Indians (NRIs), Overseas nationals of India (OCI) and Person of Indian Origin (PIO) with NRO accounts
  • Deposit amount for a set tenor and earn fixed interest rates up to 7.50%
  • Tenor ranges from 12 to 36 months
  • Payment is accepted solely through cheque or RTGS/NEFT from NRO checking account.

Systematic Deposit Plan:

  • Make monthly deposits starting Rs. 5000 per month
  • You can choose a number of deposits ranging from 6 to 48
  • The tenor for every deposit ranges from 12 to 60 months

Bajaj Finance FD rates based on the type of customers

Tenure in MonthsCumulative rates of Interest
For New DepositorsSpecial Category
For senior citizensFor Bajaj Group employees,Bajaj Finance Ltd DepositorsandBajaj Allianz Life Insurance policyholders
12 – 237.40%7.65%7.50%
24 – 357.45%7.70%7.55%
36 – 477.50%7.75%7.60%
48 – 607.60%7.85%7.70%

What is Bajaj Finance FD Interest calculator?

Bajaj Finance FD interest calculator helps determine the amount that you simply will receive on the maturity of the deposit alongside interest. It also helps the investor calculate and compare the interest receivable by changing the deposit amount, tenure and interest payment frequency.

How to use Bajaj Finance FD Interest calculator?

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Using an online FD Calculator could be a simple process. Just follow the steps below:

  • First, choose the customer type, i.e. New Customer/Existing Loan Customer/Senior Citizen
  • Then, choose the kind of Fixed Deposit that you want, i.e. cumulative or non-cumulative
  • Thirdly, choose your Fixed Deposit amount, and last
  • Choose your preferred tenure of FD

You will then be able to calculate the interest amount and total amount earned at maturity within a few seconds. 

How is Fixed Deposit interest calculated?

The returns on your Fixed Deposit investment, are determined by the interest rates and the frequency of interest payouts. These interest rates are compounded periodically, and the FD calculation formula supporting the calculator is mentioned below. 

FD Calculation Formula: A = P(1+r/n)^n*t, where:
A is maturity amount
P is the principal amount
r is the rate of interest
t is number of years
n is compounded interest frequency

Using the Bajaj Finance FD Calculator can be an excellent way to determine your returns even before you start investing. This will assist you to manage your finances easily, and maximise the returns on your investment.

Fixed deposit is considered as one of the safest investment plans as it lets the investor earn decent interest on the deposited amount over a fixed period of time without any risk. FDs offer greater returns on the principal invested in comparison to the returns generated from a regular savings account. The FD investment period can either be short or long depending on a customer’s investment portfolio. 

Bajaj Finance FD investment plan is considered as one of the most decent blends of safety and returns in the Indian investment industry. Offering up to 7.85% fixed interest rate on FDs Bajaj Finance carries the highest stability ratings of FAAA by CRISIL and MAAA by ICRA. Along with this Bajaj Finance prides itself as being the sole Indian NBFC to have BBB – ratings by S&P Global.

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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 Highlight Story