These are the Bajaj Finance Fixed Deposit interest rates for senior and non-senior citizens. The difference in earnings is noteworthy, and these rates are among the highest in the market.
Remember, the higher the rate, the better your earnings. As such, investing in the right FD scheme is crucial, especially if you have a set goal in mind. To help you compute FD returns beforehand, an ideal option is to use an FD calculator.
The FD calculator is a digital tool that accurately estimates your FD returns. In addition, you get the benefit of using this tool any number of times, free of cost to help plan your investment. You can access this calculator on the official Bajaj Finance website. All you have to do is enter the following parameters:
The amount you plan to invest
Applicable tenor
The timeline of your investment
That’s all, and you can calculate your returns within seconds. You can also tweak various parameters to arrive at the right FD plan. Checking various combinations can help you zero in on the right special tenor option, helping you generate handsome returns.
Maximise Your Returns by Optimising Your Investment Strategy
While checking the fixed deposit interest rates is crucial, learning how to maximise your returns is equally essential. You can choose to invest your corpus as a lump sum for a single tenor.
Another option is laddering your money across different tenors to benefit from the best interest rates on offer. This strategy is particularly helpful if you have a fixed timeline in mind.
FD laddering is an investment strategy wherein you spread your funds across multiple deposits.
All these FDs will have varying tenors and interest rates, helping you create a ladder of different maturity dates. This offers regular liquidity and you also get to reinvest at higher rates in the future.
Before making this decision, you need to evaluate your finances, understand your investment objectives, and then calculate the returns you can get with these options.
Check the tables given below to get an estimate of the returns you could get on maturity. Consider an FD investment of ₹5 Lakhs.
Earning Potential for Non-Senior Citizens
|
Tenor (in months)
|
Interest rate (p.a.)
|
Total Earnings (on maturity)
|
|
36
|
8.05%
|
₹6,30,731
|
|
44
|
8.35%
|
₹6,70,928
|
|
48
|
8.05%
|
₹6,81,505
|
Disclaimer: The above-mentioned rates are subject to change at the discretion of the issuer.
Earning Potential for Senior Citizens:
|
Tenor (in months)
|
Interest rate (p.a.)
|
Total earnings (on maturity)
|
|
36
|
8.30%
|
₹6,35,119
|
|
44
|
8.60%
|
₹6,76,622
|
|
48
|
8.30%
|
₹6,87,834
|
Disclaimer: The above-mentioned rates are subject to change at the discretion of the issuer.
Based on these figures, it is clear that the special tenor does outperform others, even the longer tenor options. So, plan accordingly, and get the most out of your hard-earned money with Bajaj Finance.
If you are investing to generate a steady income, you can always opt for a non-cumulative Bajaj Finance Fixed Deposit. The rates and earnings for this type of FD will be different, but you can still enjoy the benefit of enhanced returns.
Before investing, check the Bajaj Finance Fixed Deposit eligibility and paperwork requirements. Also, pay attention to the recent tax implications on your investment, including the
TDS on FD. All of these factor into your final earnings and your investing experience.
