As we move ahead in 2024, the demand for safer and high-yielding investment options is also increasing. And when we talk about safe investments, Fixed Deposits (FDs) have always been a preferred choice for conservative investors. With the changing times, Bajaj Finance has introduced a new type of fixed deposit named 'Digital Fixed Deposit.

The new and improved Bajaj Finance Digital Fixed Deposit is not just for conservative investors. Since it is a very safe as well as high-yielding investment option, all types of investors can choose to invest in this new offering.

Here are some key features of the Digital Fixed Deposit:

  1. Interest rates: Bajaj Finance Digital Fixed Deposit offers interest rates of up to 8.85% p.a. for senior citizens and up to 8.60% p.a. for customers below 60 years of age.
  2. Tenure: The Digital FD has a unique 42-month tenure, which can align with the financial goals of many investors.
  3. Digital access: The Digital FD can only be booked online, through the Bajaj Finserv website or app, ensuring a straightforward and speedy application process without the need for branch visits.
  4. Safety: This FD has ratings like ICRA AAA(Stable) and CRISIL AAA/STABLE ratings, the highest safety ratings in the country, providing the highest level of security and the lowest investment risk.

Benefits to investing in FD

  1. Safety and stability

FDs are known for being a safe and secure way to invest your money. The principal amount invested in FDs is protected, and investors can rely on steady returns without exposure to market risks. This safety net is particularly appealing to risk-averse individuals who prioritise capital protection.

  1. Assured returns

One of the attractive features of FDs is the assurance of fixed returns. Investors receive a fixed interest at predetermined interest rate, providing clarity and predictability for financial planning. This stability makes FDs an excellent option for those prioritising a secure and low-risk investment avenue.

  1. Flexible tenure options

FDs offer flexibility in choosing the investment tenure, allowing investors to align their investments with specific financial goals. Whether opting for short-term or long-term deposits, individuals can tailor their FD investments to meet their financial goals.

  1. Easy liquidity

While FDs have a fixed tenure, they still offer a degree of liquidity. In case of urgent financial requirements, investors can opt for premature withdrawal, although this may incur a penalty. Do check with the financial institution before investing.

A comparison between Bajaj Finance Fixed Deposit and other fixed return investment options available in India.

Particulars

Bajaj Finance Fixed Deposit

Public Provident Fund


Post Office RD

National Savings Certificates (NSC)

Interest rate

Up to 8.85% p.a.

7.1 % p.a.

6.7% (compounded quarterly)

7.7% p.a.

Tenure

12-60 months 

15 years

5 years

5 years

Minimum. deposit

Rs. 15,000

Rs. 500

Rs. 100 per month

Rs. 1,000

Maximum deposit

Rs. 5 crore

Rs. 1.5 lakh p.a.

 No maximum limit

 No maximum limit

Conclusion

In today's digital era, Bajaj Finance Digital FD stands out, by introducing innovative product and making investing easy for everyone. With competitive interest rates and flexible tenure, Bajaj Finance ensures that fixed deposits are within reach for all age groups. As we adapt to the digital world, Bajaj Finance continues to empower every individual with innovative financial solutions, fostering a future where financial well-being is accessible to everyone.

(This article is a paid feature. ABP and/or ABP LIVE do not endorse/ subscribe to the views expressed herein. We shall not be in any manner be responsible and/or liable in any manner whatsoever to all that is stated in the said Article and/or also with regard to the views, opinions, announcements, declarations, affirmations, etc., stated/featured in the said Article. Accordingly, viewer discretion is strictly advised.)