Where to get the best interest rates on fixed deposits in India?
Pune: When it comes to building up wealth or increasing income, investing is the best bet. Experienced investors often have diverse portfolios. They invest in various asset classes, some of which may be low risk and moderate return options, others high risk with high return potential. Ultimately it comes down to risk appetite, and in most cases the risk and reward are inversely proportional. However, financial tools like a fixed deposit are low risk and always promise reasonable returns.Also Read – Tired of FD Interest Rates That Are Not Increased? Here’s how you can get better returns from your fixed deposit account
Banks, non-bank financial corporations and the post office offer these instruments. Each has its own merits. Investors should choose the tool with the highest rate for maximum returns. Here, NBFC FDs may be the best option as they have higher FD rates, usually outperforming the competition. Read on to find out more: Also Read – Income Tax Return: How to Link Aadhar Card to Your ITR
FD interest rates offered by financial institutions
Comparing the FD interest rates of major financial institutions is the first step in maximizing returns. Knowing where one can get the best rate and how it compares to others can help make a more informed and calculated decision. FD interest rates in India are based on RBI regulations. Repo rate cuts by the RBI lower interest rates offered by commercial banks. This, in turn, decreases the yields receivable at maturity. Read also – Income tax declaration: these 4 advantages that taxpayers must enjoy when filing their RTI | Details here
However, Bajaj Finance, being an NBFC, is not directly controlled by the central bank. It remains relatively immune to the changes induced by key rate cuts. Hence, Bajaj Finance Online FD is more rewarding compared to other FD plans offered by banks or even post offices. Bajaj Finance offers some of the highest FD rates in India. Citizens under the age of 60 can get up to 6.80% on their deposits, and seniors can get returns of up to 7.05% regardless of the mode of investment.
Higher interest rates compared to other fixed deposit instruments
Besides financial institutions, one can also invest in a fixed postal deposit. The Indian Government Post Office offers this instrument and is another lucrative option to consider. Like other term deposits, interest is compounded annually. Anyone can invest in these FDs except NRIs. FD interest rates vary here from 5.50% to 6.70% on maturities of 1 to 5 years.
Based on the FD interest rates of some of the best deals on the market, it is clear that Bajaj Finance Fixed Deposit is a wise choice when looking to maximize returns or even enjoy an investment experience. comfortable. Besides the high rates of FD, this instrument has several other advantages and features, which makes it an attractive investment option.
Affordable minimum deposit amount
With Bajaj Finance FD, there is no need to save for months before investing. The minimum deposit amount is Rs. 25,000, which allows you to start your investment journey earlier.
An easily accessible instrument for all investors
Anyone can invest in a Bajaj Finance fixed deposit. Citizens over 18, Hindu Undivided Families (HUF), Corporations, Partnership Companies, Group Companies, Sole Proprietorships, Clubs, Associations, Family Trusts and NRIs can all invest. Note that NRI investors must have an NRO account and be over 18 years of age.
Flexible tenor options
With this fixed deposit, investors have the freedom to tailor their investments according to their financial goals. Choose a term of between 12 and 60 months and enjoy attractive returns throughout. The best part is that this is a viable option whether one has short term or long term goals to achieve.
By comparing the interest rates and the features of FD, it is clear that Bajaj Finance Online FD is the way to go. With the highest ICRA FAAA ‘and CRISIL MAAA’ ratings, this is indeed a safe and secure option that one can choose from. In addition, it has digital provisions such as an online paperless investment process and even accepts payments via net banking or UPI. Invest online and build wealth in minutes.