Calculate the Highest Interest on FD for Senior Citizen

Publish Date : 2020-05-26


Calculate the Highest Interest on FD for Senior Citizen

FDs are the most preferred investment option for people looking for risk-free assured returns such as senior citizens. Unlike other market-linked investment plans, you can be certain about your returns on FD. Apart from providing a regular source of income, FDs help you in maximising your retirement corpus.

However, the recent cut made in the repo and reverse repo rate by RBI and consequently declining FD rates have established trouble for senior citizens. But financiers like Bajaj Finance are offering higher interest rates on Senior citizen FDs still. Higher returns, stability, flexible tenure, multiple payout options are some of the features that make Bajaj Finance FDs stand out. With Bajaj Finance FDs, senior citizens can enjoy an interest rate that is 0.25% over and above the existing one.

Let’s find out how investing in Bajaj Finance Fixed Deposits can be helpful for you.

Features of Bajaj Finance FD

Here are the features that make Bajaj Finance FDs the go-to option for senior citizens:

  • The highest interest on FD: Bajaj Finance provides one of the highest interest on FD for senior citizens. The interest rate varies from 7.65% to 7.85% depending on the tenure and interest payout frequency you choose as shown in the table below.

     

Tenor in Months

Minimum deposit (in Rs.)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Annual

12 – 23

25,000

7.65%

7.39%

7.44%

7.51%

7.65%

24 – 35

7.70%

7.44%

7.49%

7.56%

7.70%

36 - 47

7.75%

7.49%

7.53%

7.61%

7.75%

48 - 60

7.85%

7.58%

7.63%

7.70%

7.85%

 

  • Online FD account access: You can start investing in Bajaj Finance Fixed Deposits with a minimum deposit of Rs. 25,000 and can easily manage this FD account online with the help of Experia.

  • Low Risk - High stability: As the only Indian NBFC with BBB - rating from S&P Global, Bajaj Finance FDs are the safest investment plans available in the industry. It carries the highest stability ratings of FAAA by CRISIL and MAAA by ICRA, so your money is never at risk.

  • Flexible investing Tenor: With Bajaj Finance FDs you are free to choose from flexible tenor options ranging from 12 to 60 months as per your convenience

  • Periodic interest payouts options: To let you manage your finances easily, Bajaj Finance FDs provide you with flexible payout options. You can choose to receive your interest income monthly, quarterly, half-yearly or annually.

 

What are the benefits of investing with Bajaj Finance as a senior citizen?

Investing in Bajaj Finance FDs can help Senior Citizens get additional offers and benefits. Apart from offering one of the highest interest on FD in India, Bajaj finance FDs offer you numerous value-added features such as:
 

  1. Pre-mature withdrawal
    Awarded with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating, Bajaj Finance Fixed Deposits allows you to withdraw your money prematurely in case of emergencies. With a 7.85% interest rate, it offers one of the highest interest on FD in India.
     

  2. Loan against FD
    Bajaj Finance FD account holders can avail loan up to 75% of their FD amount while keep earning the highest interest on FD leftover. So in case of urgency, rather than breaking his FD one can go for loan option with cheap interest rates.
     

  3. FD amount Calculator
    Bajaj Finance provides you with an online calculator with the help of which you can easily comprehend which FD plan is best for you. You can manage and evaluate your finances with our easy-to-use FD amount calculator.

 

What is Bajaj Finance FD amount calculator?

It is an online tool designed to assist you to determine your FD interest and maturity amount in only a couple of minutes. Additionally, it helps to compute and contrast your receivable interest amount conditioned to different combinations of deposit amount, tenure, and interest payment frequency.

How to use Bajaj Finance FD amount calculator?

  • Choose the type of customer you are. (New Customer/ Existing Customer/ Bajaj Employee, Senior Citizen or etc)

  • Choose whether you want cumulative or Non - Cumulative FD

  • Choose the frequency of your interest payouts

  • Choose your Fixed Deposit amount, and lastly

  • Choose the tenure that you want to invest for

 

And that’s it, you will get the maturity amount of your Fixed Deposit calculated automatically. So why wait, start investing with Bajaj Finance and reap the benefits of the highest interest on FD.



Category :finance
Author Website : blogandjournal

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