Things to Keep in Mind Before Investing in a Fixed Deposit
- 2 Min Read
- By Taxmann
- Last Updated on 26 March, 2021
Bajaj Finance Fixed Deposit Interest Rate 2019
|Tenor in Months||Minimum deposit (in Rs)||End of Tenor (Cumulative)||Periodic (Non-cumulative)|
|Special tenors Scheme|
|Rate benefits basis customer category (w.e.f. 17 Oct 2018):|
|+ 0.35% for senior citizens|
|+ 0.25% for Bajaj group employees or existing Fixed Deposit customers or loan customers|
|Renewal: +0.25% over and above the rate of interest at which the deposit is booked|
Check The Interest Rate And Pay-Out Options
The first thing you should check out in any fixed deposit scheme is the interest rate. This rate can make or break your investment choice, so it’s better that you go for an option that will provide you with a higher return on your investment. Bajaj Finance’s fixed deposits offer you with an interest rate of 8.75% – a rate that can go as high as 9.10% if you happen to be a senior citizen as well! For pay-outs, institutions like Bajaj Finance allows you to get the full interest earned at maturity by choosing a cumulative Fixed Deposit or choose to get regular pay-outs at intervals of every month, quarter, half-year or year by choosing a non-cumulative Fixed Deposits.
See If The Minimum Deposit Is Feasible
Most people tend to shy away from a fixed deposit scheme mainly because the minimum deposit is just way too much for them to make. Thankfully, modern financial institutions have nailed down this problem and provided a viable solution in the form of a low minimum deposit. A great example would be Bajaj Finance, which has a minimum deposit amount of just Rs. 25,000. One can confidently say that this system would be more than feasible for those willing to invest in fixed deposit.
Choice Of Tenure
Nowadays, most financial organisations provide flexible tenure options for fixed deposits. Smart non-banking companies like Bajaj Finance generally allow you to choose between a maturity date of 12 to 60 months, allowing you to select the precise moment when your investment will mature. This can help you map out your finances and plan out any substantial future expenses with ease. If you are seriously contemplating the idea of investing in a fixed deposit, then this article is a one-stop solution for you!
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