Fixed Deposits, is one of the most popular modes of investment in India. No matter the age or profession of the investor, FDs would undoubtedly feature in every investment portfolio.
Fixed deposits (FDs) are offered by banks as well as non-banking financial corporation but corporate FDs are preferred investment option as they offer higher interest rate for similar periods.
How to maximise savings from Fixed Deposits
Invest in Corporate FDs: Corporate FDs is a term given to deposits made with a non-banking financial corporation. Investing in company FDs yield significantly higher rates of return as compared to Bank FDs. But you should make sure that the company FD you are investing in is accredited as stable by rating agencies such as ICRA and CRISIL
Choose Cumulative FDs: Unless you need regular monthly payout, you must opt for cumulative option, wherein interest earned on your fixed deposit is reinvested and this way your investment multiplies
Diversify FDs over varying tenor: You should diversify your fixed deposit portfolio over varying durations in such a way that after every few days there is an FD maturing. This would ensure regular income over fixed intervals.
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Features of Fixed Deposits by Bajaj Finance Ltd.
Bajaj Finance Ltd., the lending arm of Bajaj Finserv, offers investors an opportunity to earn higher returns through its Fixed Deposit.
Bajaj Finance Fixed Deposits offer an attractive interest rate of 7.85 percent to its customers, which can go up to 8.20 percent, in case of Senior Citizen Fixed Deposit.
With ICRA's MAAA (Stable) Rating and CRISIL's FAAA/Stable Rating, Bajaj Finance Ltd., has been deemed with the highest degree of safety with regards to timely payment of interest and principal on the instrument.
Investors have the option to start investing from as low as Rs. 25,000 onwards with Bajaj Finance Ltd FD.
Company accords the investors with a high degree of flexibility in terms of the tenor of the fixed deposit ranging from 12 months to 60 months.
Disclaimer: No Business Standard Journalist was involved in creation of this content