If you’re looking to grow your savings, choose smart Investment avenues that help you put your money to work. Company FDs are usually one of the best investment avenues in such situations, where you’re looking for high returns with stability.
Let’s provide some insights on why FDs are the best investment avenues for you.
Senior citizen FD – Features and benefits!
If you are not yet convinced if a senior citizen fixed deposit scheme should be your investment plan, know the features and benefits right away!
- Get FDs at a higher 8.20% interest rate
Compared to standard citizens, leading non-banking finance companies (NBFCs) offer a higher interest rate of 8.20% which is 0.35% more than others.
- Minimum investment money to begin
You don’t need a big amount to get your FDs started with an NBFC. If you have Rs.25,000, you are good to go!
- Wider tenors
Senior citizen FD schemes come with a flexible tenor ranging between 1 year and 5 years to help suit your needs and affordability.
- Higher stability
ICRA’s MAAA and CISIL’S FAAA ratings mean your investment is in safe hands, and you need not worry about losing it.
- Assured ROI
Compared to other investment options such as mutual funds and more, the returns of a senior citizen FD are not impacted by market fluctuations. It means that no matter what the market condition, you will get your promised ROI.
- Fixed deposit calculator facility
You can know how much will be your FD profits even before investing. Lenders offer free fixed deposit calculators on their websites. You can enter your deposit amount along with the tenor to get the assured ROI that you will earn after the maturity. Once you are sure and aware how much you can earn on maturity, you can adjust your deposit amount and tenor so that you can fulfil a scheduled goal with it.
- Easy liquidity
You can easily break your FD account in case if you have some urgent need for money. Depending on your lender, you may get a part of or may not get the promised interest rate if you break it before the maturity.
- Loan against FD
If you don’t want to lose your FD interest profits, you can easily avail a loan up to 90% of your loan amount money at a lower rate of interest and a longer tenor. The loan is processed quickly, and there are no documents needed as your FD money is available as the security. If you don’t repay the loan, your FD money stands to be forfeited by your lenders.
- Online account management
Lenders let you access the details of the senior citizen FD via their digital customer portals. It helps you track the FD details from anywhere and without issues.
You have worked all your life and compromised on various fronts, right? Now when you are entering the golden period of your life, you need not suffer anymore! You can easily start investing in a senior citizen FD and get started! Happy retirement!
For any query, feel free to contact Bajaj Finance Customer Care.