By: ABP Live Focus | Updated at : 18 Dec 2023 12:35 PM (IST)
Fixed Deposits are considered to be a safe investment option because they offer guaranteed returns
Fixed Deposits (FDs) are a safe and secure investment option that can help you grow your savings at an inflation beating pace. They are one of the safest investment options available in India, with guaranteed returns. In this article, we will explore what fixed deposits are, how they work, the different types of fixed deposits, factors to consider when choosing a fixed deposit, and how to open a fixed deposit with Bajaj Finance. We will also discuss how Bajaj Finance Fixed Deposits can help grow your savings.
What are Fixed Deposits (FDs)?
Fixed Deposits are a type of investment instrument that allows individuals to invest their money for a fixed period and earn a predetermined rate of interest on their investment. Fixed Deposits are considered to be a safe investment option because they offer guaranteed returns and are not affected by market fluctuations.
How FDs Work?
When an individual invests in a fixed deposit, they deposit a lumpsum amount with a bank or a financial institution for a predetermined period. The financial institution offers a fixed rate of interest based on the tenure of the deposit and type of the customer.
Types of Fixed Deposits
Fixed Deposits (FDs) come in various types, each tailored to meet specific financial objectives. Understanding these types helps investors to choose the most suitable option based on their needs. Here are 6 common types of Fixed Deposits:
Factors to consider when choosing a Fixed Deposit
Bajaj Finance Fixed Deposit
Bajaj Finance fixed deposits offer attractive interest rates that can help you grow savings at a fast pace. Bajaj Finance offers FDs with interest rates of up to 8.60% p.a. They also offer flexible tenures ranging from 12 to 60 months, which allow investors to choose the duration of their investment as per their individual financial goals and requirements.
Bajaj Finance fixed deposits also come with a range of features such as an easy-to-use online platform, flexible interest payout options, and auto-renewal of FDs, making them a convenient and hassle-free investment option.
In addition to offering attractive interest rates, Bajaj Finance fixed deposits are AAA/STABLE rated from financial agencies like CRISIL and ICRA. This makes Bajaj Finance fixed deposits a popular choice amongst investors looking for higher returns with guaranteed safety and stability.
How to open an fixed deposit with Bajaj Finance
Documents required to open a fixed deposit with Bajaj Finance
Conclusion
In conclusion, fixed deposits are a reliable and safe investment option that provides a guaranteed return on investment. Choosing the right fixed deposit involves considering the interest rates, tenure, minimum deposit amount, and penalty for premature withdrawal. Bajaj Finance Fixed Deposits offer attractive interest rates, flexible tenures, and a range of convenient features, making them an ideal choice for investors seeking higher returns with safety and stability. With Bajaj Finance Fixed Deposits, you can make your savings grow at an inflation beating pace. Start investing now!
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