Fixed deposits (FD) have been the preferred mode of investment in India since last many years. They are so popular that whenever someone thinks about various avenues where they can invest their savings, fixed deposits are the first to come to mind. FD’s are a standard financial product offered by most of the financial institutions and are also known as Term Deposits. They are easy to operate, assured guaranteed returns and are free from market volatility.
Due to the safety of investment and consistent returns, FD’s are preferred especially by Senior Citizens to plan their retirement by creating a corpus of the desired amount. Bajaj Finserv through its lending and investment arm Bajaj Finance Ltd., offers higher returns coupled with distinctive features to senior citizen.
- Higher Rate of Interest:- Bajaj Finserv FD’s offer the highest rate of interest for senior citizens up to 8.20% p.a. which is the highest in the industry. This ensures guaranteed high returns and stable source of income for senior citizens.
- Renewal Benefits:- When investors do not break your FD and decide to renew it for another term, Bajaj Finserv offers renewal benefits in the form of additional 0.10% of interest. Unless the need is urgent, it is beneficial to keep on renewing the FD for another term.
- Flexibility in Tenor and Amount Invested:- Senior citizens can start investing in Bajaj Finserv FD starting from as low as Rs. 25,000/- and can choose to keep the sum invested from 12 months to 60 months. This offers much-needed flexibility to investors as they can plan their financial requirements in a better way.
- Safety of investment: – Bajaj Finserv FD have received highest safety rating in the industry, ICRA’s MAAA (Stable) and CRISIL’s FAAA/Stable. This ensures that senior citizens will continue to receive a stable flow of income in the long run.
The amazing benefits offered by Bajaj Finserv FD’s make them an attractive investment avenue for senior citizens looking for a risk-free investment option offering greater fund growth.