In yet another surprise move, the RBI has cut repo rate by 25 basis points to 5.75% from 6%. This announcement made today, as a part of the Monetary Policy meeting, will be put to action with immediate effect. This is the third time in a row that the RBI has altered the repo rate this year. In justification, the Monetary Policy Committee has mentioned that the growth impulses within the economy have deteriorated prominently over the past months. With this move, the RBI looks to strengthen India’s GDP. The committee has also unanimously voted to observe the ‘accommodating’ status unlike the ‘neutral’ status that it held until now.
Just after the announcement was made, volatility hit the market. For those looking to make some smart investment choices in this volatile market, Bajaj Finance Fixed Deposit is the most preferred investment option. Since it is not linked to the market, it offers assured returns and leaves nothing to chance. Here’s why investors must consider investing in a Bajaj Finance Fixed Deposit.
Investing in a Bajaj Finance Fixed Deposit is safe as it has ICRA's MAAA and CRISIL's FAAA rating. These are the highest credibility ratings, which imply that your investment amount is never at risk. Bajaj Finance FD offers an interest rate of up to 8.60% for new customers, and 8.85% for existing customers and employees. Those looking to renew their FD can benefit from an additional 0.10% interest on their existing interest rate.
Bajaj Finance Fixed Deposit enables investors to choose a timeline for their investment, depending on their goals. Regular investors can choose a tenor of 12 to 60 months or simply park your money in a special tenor FD to benefit from higher interest rates.
On the other hand, senior citizens can benefit from an interest rate of up to 8.95% on an FD taken for at least 3 years with payouts at maturity. They can also select the option to receive periodic payouts, and consider choosing the frequency of these payouts.
Hassle-free investment process
Right from planning your investment to executing it, Bajaj Finance ensures accessibility and ease. Investors can use the FD calculator to plan their investments, and choose the investment amount, tenor, and payout frequency, as per their convenience.
To invest in a Bajaj Finance FD, investors need can fill in an online form and wait for the representative to get back, and assist them with the investment process. For those looking to invest smaller amounts, Bajaj Finance FD enables them to start investing with just Rs. 25,000.
For those looking to grow their savings, it is prudent to invest a portion of your corpus in Bajaj Finance Fixed Deposit right now. This is because apart from the repo rate cuts, the Union Budget 2019 is all set to be formalised on 5th July, 2019. The budget results can signal a more economic volatility and can re-alter several interest rate structures. So, lock in the high interest rate offering right now to seize your opportunity and stay on firm ground with your investment even if volatility strikes.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 31 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international ‘BBB’ with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.in