The rising volatility in the market and issues like pay-cuts due to the weakening of the economy might make you think twice before parking your money in any of the instruments. Many of you might even think that it is a good time to invest in market-linked instruments as shares of most of the companies are witnessing a lower trend these days.
However, it is always better to diversify your investment portfolio by investing in instruments that are not directly linked to the market.
A bank is considered to be among the safest places to invest your funds. This is because bank FDs are covered under the depositor insurance scheme that ensures that your deposits up to Rs. 5 lakhs remain safe even if the bank debacles or faces a temporary crisis.
However, if you are interested in growing your savings at a steady pace then instruments like corporate FD might be a better choice. This is because the interest rates of bank FDs have been declining right since early last year. Therefore, opening a fixed deposit plan in a non-banking finance firm that is stable and offering a high-interest rate reputed will certainly help to multiply your savings safely.
Corporate FDs are lucrative because they come with a wide array of features apart from the higher interest rate. For example, Bajaj Finance FD offers interest rates up to 7.85% on their FD plans. This means that your savings will grow at one of the highest FD rates in India when you choose any one of the FD schemes from Bajaj Finance.
You get to choose a flexible tenor ranging from 12 to 60 months as per your convenience and you can also earn periodic interest payouts by investing in a non-cumulative FD. The flexibility of tenor ensures that you can go for either long or short term investments as per your financial requirements.
Since the FD interest rates are much higher than other fixed-income investments, you can invest in multiple FDs to build a huge corpus quickly. Investing in multiple FDs will provide you with multiple liquidity points in a calendar year that can be further use to ladder investments smartly. Some other distinguished advantages of investing in Bajaj Finance FD include:
- An existing FD can be renewed once it matures and you will get 0.10% additional rate than the interest rate that was offered to you earlier.
- The interest earnings and maturity amount will be paid on time as these deposits are highly safe. They have received high ratings on safety and stability by third party credit rating institutions like ICRA and CRISIL.
- An online application form and online account management through Experia- your online fixed deposit account makes it easy for you to manage your investments easily from the comfort of your home.
- To plan your finances and investments, you can use the online fixed deposit calculator and calculate the interest earnings and maturity amount prior to booking an FD. Also, in case of any unforeseen financial emergency, you can avail of collateral-free loans against your FD at a very nominal interest rate.
- You can also book the non-cumulative FDs if you want periodic returns to cover your additional expenses. The option of monthly interest payouts can also be availed by choosing a non-cumulative FD. This option is ideal for those who do not have a regular income source to fund their monthly financial needs.
Moreover, you can book an FD with just Rs. 25,000. All these benefits and features make these FDs a safe, flexible, and ideal investment instrument for investors across all age groups.
Interest rates are declining across all the fixed deposit avenues. However, some finance firms like Bajaj Finance are still offering higher interest rates on their FDs. Apart from offering a highest FD rates in India (up to 7.85%), you can avail other attractive features such as flexible tenors, online application process, online fixed deposit calculator, collateral-free loans, etc.
Moreover, you can earn additional interest rates on FD renewal which will prove to be beneficial if you are planning to re-invest your returns. Also, these FD plans are safe and credited for their safety and stability by reputed credit rating organizations such as CRISIL and ICRA. The process of opening an FD account from the comfort of your home is made easy and simple with an online application form.