Fixed Deposit

Investing wisely is the need of the hour as the market is going through a difficult phase. Also, many investors want to gain knowledge about the investment options that can bail them out from the prevailing economic uncertainty. If 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 a best investment for everyone:

Flexibility in terms of tenor

None of the fixed income instruments will provide you with the flexibility of tenor like an FD does. 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 that you are left with is to choose a financier, FD type, and tenor wisely.

For instance, Bajaj Finance FD offers a tenor ranging from 12 to 60 months. This means that 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 practise to find out whether the financier that you are eyeing has received good ratings when it comes to stability and safety of your capital.

For example, Bajaj Finance FD has received FAAA/stable credit ratings from CRISIL and MAAA/stable credit ratings from ICRA. These are the highest credit ratings that a financier can get based upon whether the investment offers a 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 and you also get an extra 0.10% FD rate for filling the online FD form while investing in its FD plans.

Additional FD rate to senior citizens

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

Easy withdrawal options

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

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

Attractive Interest Rates

An FD plan that comprises all the above-mentioned features will certainly be a better choice. However, a higher FD interest rate is also important as it will ensure that your investment grows at a steady rate.

Bajaj Finance FDs carry all the above stated features and also offer an FD rate of 7.25% that is the highest FD rate in the country today. You can also use its FD calculator to calculate the returns prior investing. Therefore, you can go through its FD plans to see whether your requirements are being met or not.

If you are thinking about what is investment and which instruments will provide good returns along with stability, then you can explore fixed deposit plans. This is because fixed deposits offer a stable platform to grow your savings and also provides other options like flexibility of tenor, easy withdrawal options, online investment methods, etc. Bajaj Finance FDs has 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, loan against FDs, extra interest rates for senior citizens, etc. it also offers one of the highest interest rates in India currently. Therefore, you can explore this FD scheme along with the other options available in the market.

Author Bio:

Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.