Fixed Deposit

Investing wisely is the need of the hour as the market is going through a difficult phase. Also, many investors want to learn about the investment options that can bail them out of the prevailing economic uncertainty. If the security of the deposited amount is your prime concern, then you can think about fixed-income instruments like FDs. Here are some reasons that make fixed deposits the best investment for everyone:

Flexibility in terms of tenor

None of the fixed-income instruments will provide you tenor flexibility like an FD. Also, as you deposit a lump sum amount at once, you don’t have to bother about your investment till maturity. Therefore, the only job you are left with is choosing a financier, FD type, and tenor wisely.

For instance, Bajaj Finance FD offers a tenor ranging from 12 to 60 months. You can pick a tenor that suits your investment goals and requirements.

Safe instrument

FDs are safe instruments as they keep your investment unaffected by market fluctuations. However, it is a good practice to find out whether the financier you are eyeing has received good ratings regarding the the stability and safety of your capital.

For example, Bajaj Finance FD has received FAAA/stable credit ratings from CRISIL and MAAA/regular credit ratings from ICRA. These are the highest credit ratings that a financier can get based on whether the investment offers good stability and safety for your investment or not. It means that Bajaj Finance FD plans are safe for parking your savings.

Online option

Many financiers allow you to open an FD account online. Some financiers like Bajaj Finance even offer complete online investment procedures to their customers. You also get an extra 0.10% FD rate for filling out the online FD form while investing in its FD plans.

Additional FD rate for senior citizens

It is a good idea to go for a senior citizen FD scheme only if a financier offers a higher interest rate. For instance, Bajaj Finance FD offers a a 0.25% additional FD rate to senior citizens. This different interest rate is good enough to create a substantial difference in returns upon maturity.

Easy withdrawal options

Finding a financier who offers a flexible withdrawal option is the key, as it will determine how valuable your deposits are in crunch situations. Thankfully, many banks and finance companies allow you to withdraw an FD prematurely, provided that your deposits have completed a minimum tenor stipulated by the financier.

It is even better to get a collateral-free loan against your deposits, as it means you no longer have to break your investment to fulfil your financial needs. Bajaj Finance offers a collateral-free loan of up to 75% of the deposited amount. You can also withdraw your deposits prematurely by paying a minimum penalty.

Attractive Interest Rates

An FD plan comprising all the above features be a better choice. However, a higher FD interest rate is also essential as it will ensure your investment grows steadily.

Bajaj Finance FDs carry all the above features and offer an FD rate of 7.25%, the country's highest rate today. Therefore, you can go through its FD plans to see whether your requirements are being met. You can also use its FD calculator to calculate the returns before investing.

If you are considering investment and which instruments will provide good returns and stability, then you can explore fixed deposit plans. This is because fixed deposits offer a stable platform to grow your savings and provide other options like the flexibility of tenor, easy withdrawal options, online investment methods, etc. Bajaj Finance FDs have received the highest credit ratings from credit rating organizations like ICRA and CRISIL. Apart from providing a long list of features that include an end-to-end online process, loans against FDs, different interest rates for senior citizens, etc., it currently offers one of the highest interest rates in India. Therefore, you can explore this FD scheme and other options available in the market.