5 Reasons Why Bajaj Finance FD Works Best For Senior Citizens

Bajaj Finance is known to offer attractive fixed deposit interest rates that yield guaranteed returns.

Safeguarding your capital and earning guaranteed returns should be your first investment objective in your sunset years. Retirement marks the end of your regular earning period, which necessitates you to protect your wealth, especially when you consider rising costs via inflation. To finance your golden days comfortably while earning guaranteed returns, invest in low-risk options like a Senior Citizen Fixed Deposit offered by Bajaj Finance. From attractive interest rates to flexible tenors and multiple payout options, Bajaj Finance offers a range of benefits that makes it an ideal investment for senior citizens. Here are 5 reasons why you, as a senior citizen, should consider this investment. High safety and stability of the investment and returns The Fixed Deposits offered by Bajaj Finance enjoy the highest stability and credit rating of FAAA by CRISIL and MAAA by ICRA, respectively. Since these ratings indicate safety and credibility, you can rest assured that both your principal and returns are in safe hands, and also expect to receive your maturity proceeds on time. Higher interest rates of up to 8.70% for senior citizens Bajaj Finance is known to offer attractive fixed deposit interest rates that yield guaranteed returns. Further, the issuer offers 0.35% additional interest rate for senior citizens. Depending on the tenor you choose, as a senior citizen investor, you can earn interest of up to 8.70%. Here’s a snapshot of how much you stand to gain by choosing varied tenors.

Deposit amount (Rs.)	Tenor (Yrs.)	Interest rate (%)	Interest (Rs.)	Maturity amount (Rs.)
10,00,000	2	8.4	1,75,056	11,75,056
10,00,000	3	8.7	2,84,366	12,84,366

To multiply your returns further, choose Auto-Renewal facility when applying for an FD. This way, on maturity, your proceeds will be reinvested and this will allow you to earn an additional interest rate of 0.10% on the prevailing rates. Here is what you stand to earn by auto-renewing your FDs basis their initial tenor, as mentioned above.

Deposit amount (Rs.)	Tenor (Yrs.)	Interest rate (%)	Interest (Rs.)	Maturity amount (Rs.)
11,75,056	2	8.50	2,08,249	13,83,305
12,84,366	3	8.80	3,69,786	16,54,152

Flexible tenors to ladder FDs and enjoy liquidity Since your investment in a fixed deposit is locked-in for the entire tenor, planning for liquidity is necessary to meet your obligations on time. To help you with this, Bajaj Finance offers a flexible tenor spanning over 12 to 60 months. This means that you can ladder your fixed deposits for varying tenors and enjoy required liquidity at different points in time. Make use of the FD calculator to ladder your FDs in line with your goals and expenses to achieve them on time. Various interest payout options to fund your expenses Since you don’t enjoy a regular income post-retirement, Bajaj Finance allows you to choose from various payout options, as per your requirement. Here, you can choose to receive the fixed deposit interest on maturity or at regular intervals through the tenor. If you choose to access your earnings regularly, you can opt for monthly, quarterly, semi-annually or annual frequency, basis your recurring needs. For instance, you can invest in an FD that gives monthly interest payout to meet regular expenses. Further, you can invest in an FD payable at maturity to fund big-ticket expenses like your children’s wedding, prepayment of a home loan, and so on. Multiple modes of investment for convenience With Bajaj Finance, you can invest in an FD via various modes such as online or via debit card and enjoy a multi-deposit facility, as per your convenience. To avoid the hassles of waiting in a long queue and submitting lengthy documents, fill an easy online application form available on the issuer website and submit it to book your FD. Alternatively, you can visit a Bajaj Finance branch, close to you and pay via your debit card to open an FD. Finally, if you are looking to invest in multiple fixed deposits, you can opt for the multi-deposit facility, which allows you to invest in up to 5 FDs using a single cheque. This way, you can avoid the hassles of writing multiple cheques and still choose different investment parameters like the amount, tenor, and payout option. What’s more, in case of an emergency, you don’t have to liquidate all your FDs, but can instead make a premature withdrawal from one of your fixed deposits and continue earning returns on other schemes. Now that you know what makes the Bajaj Finance Fixed Deposit an ideal option for you, invest today for a stress-free retirement life. – Powered by Bajaj Finserv