FD Interest Rates – Highest Interest Rates in India from Bajaj Finance FD

FD Interest Rates in India

The reduction in FD interest rates due to the ailing economy and repo rate cut done by RBI has become a cause of concern for investors. However, if you still lock-in the prevailing rates, any further reduction is interest rates will not affect you as you will continue to earn the prevailing rates as applicable at the time of booking the fixed deposit. 

Therefore, if you choose a high-yielding fixed deposit, your investmentwill continue accruing interest at the same rate till maturity. However, if you are interested in booking a new FD, you can still grow your savings at a high-interest rate if you follow the tips mentioned below:

Choose a company FD 

Company FDs are the fixed deposit plans that are offered by non-banking finance firms. They are similar to bank FDs but they provide better interest rates and more flexibility when it comes to the FD tenor. For instance, Bajaj Finance FD allows you to pick an FD tenor from 12 to 60 months as per your financial needs. Also, you get an interest rate of up to 7.35% which is one of the highest FD rates in India.

Invest in cumulative FDs

While FDs can be used for short term investments, you can also use them for maximizing the returns over a longer tenor by investing in cumulative FDs.

Cumulative FDs compound your interest periodically and the compounded value is used as a new principal during the next compounding cycle. Therefore, your deposited amount will grow steadily and any further reduction in interest rates will not impact your financial goals. 

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Ladder your investment

The best way to ensure steady growth for your invested capital is to invest in multiple fixed deposit plans. Also, see to it that you pick different tenors and FD types so that your investments gain interest at varying interest rates. 

This will allow you to invest at a higher FD rate whenever you get an opportunity because you will have more liquidity points due to varying maturity timelines. Moreover, the varying interest rates will flatten the curve of FD rate fluctuations and you will be able to minimize the impact of falling interest rates. 

Bajaj Finance FD provides you the opportunity to invest in multiple FDs through its multi-deposit facility. It allows you to pick different tenors and FD types for each deposit and the payment for all the deposits can be made via a single cheque. 

Apart from these benefits, you will also get a 0.10% extra interest rate if you open an FD account online by filling an online FD form. Also, reputed credit rating organizations like CRISIL and ICRA have rated it highly which means that your invested capital will remain safe despite of the change in the market conditions. 

Moreover, the option of handling the account online through its customer portal Experia allows you to manage your investments without stepping outside your house. All these features and benefits make it a modern, safe, and high paying investment instrument for you. 

It is necessary to note that the FD interest rates have fallen and therefore, investors who are opening a new fixed deposit account will not get as high-interest rates as they used to get before. However, you can still invest in cumulative FDs to benefit from the compounding factor or you can choose a company FD like Bajaj Finance FD that offers interest rates as high as 7.35%. Bajaj Finance FD also provides the option of opening multiple FD accounts using which you can ladder your deposits. Also, modern facilities like fixed deposit calculator, online account opening, and managing options make it a comfortable instrument for everyone.

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