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Why is This the Right Time to Invest in Bajaj Finance Fixed Deposit?

Are you planning to invest in a fixed deposit? Learn why now is the right time to invest in a Bajaj Finance Fixed Deposit.

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It is a known fact that nobody becomes rich overnight. Building wealth is a long haul process that requires hard work and patience. You may even have to make certain sacrifices for a better future. For instance, you may have to curb your urges to splurge and invest your money so that it can grow in the long term. All the self-made millionaires swear by this mantra. Warren Buffet, one of the legendary investors, started investing when he was eleven. In his words, he was wasting his time till then.

The good news is that it is never too late to start investing. What you need is an investment option that matches your risk appetite and also gives valuable returns in the long term. For instance, stock markets are considered to be risky. Several people equate it to gambling because you never know what's in store for you. The stock market depends a lot on external factors like economy, monetary policies and the general public sentiment prevailing in a country. It may fluctuate to extreme levels, and before you know it, your investments may go down the drain.

However, if you get the hang of it, you can make significant profits over a period of time, although it may take time and commitment to get a grip on the fundamentals of the stock market. You may even have to track it on a daily basis and constantly update yourself about the new developments. This is the reason most people invest in mutual funds to minimize their risk and make the most of stock markets. If you are looking for a safe investment instrument, you may consider a fixed deposit. You can open a fixed deposit at either a bank or a non-banking financial institution.

A fixed deposit requires a lump sum investment of money that gets locked into your account for a certain period of time. You earn interest on this amount which gets credited to your account and gets paid either upon maturity of the fixed deposit or on monthly, quarterly, half-yearly or yearly basis. The best thing about choosing this option is that there is no restriction on the initial investment. You can deposit as per your convenience.

It is advisable to scan the market so that you can get the best fixed deposit rates. The key advantage of fixed deposits is that there is minimal risk, and the returns are assured. You may even choose to opt for monthly interest payments if you need help with your monthly expenses. Moreover, your invested amount remains protected from market fluctuations.

Bajaj Finance offers one of the best fixed deposit rates in the market. Moreover, this is the right time to invest in Bajaj Finance fixed deposit. Read below to understand why.

Enjoy Best Fixed Deposit Rates in the Market

These are volatile times with several worrisome signs hinting at a slowdown. Rising oil prices, trade wars and high levels of unemployment have dampened the investors' spirits. In addition to this, the RBI has introduced a slew of repo rate cuts in the last couple of months. To account for this rate cut, several financiers have reduced their interest rates on fixed deposits. Even in this scenario, Bajaj Finance offers one of the best fixed deposit rates in the country. You can enjoy an interest rate up to 8.35%, which can extend to 8.7% if you are a senior citizen. You can enjoy such best fixed deposit rates if you choose to invest your money for a period of three years and accept to receive the interest upon maturity. You can even use an online calculator to understand your returns at the end of the tenure.

Safe and Secure

Every individual works hard and slogs at work to earn money. The investment is made with the purpose of providing better for the family and ensuring a security cover. In this erratic business environment, Bajaj Finance is a firm that enjoys superlative credibility ratings. It has been rated AAA by CRISIL and MAAA by ICRA. These ratings indicate that you can rest assured that you are investing your hard-earned money in a safe place. You will receive your principal as well as the best fixed deposit interest rates at the promised time.

No Changes in the Interest Rate

The rate of return does not remain constant in other investment options like PPF, stock markets or savings account. The terms of PPF may change with changing government regulations. Similarly, the changes in the stock market are subjected to micro and macro-economic conditions. Banks may change the interest rates of the savings account as a result of RBI directions. However, once you lock your money in a fixed deposit with Bajaj Finance, the interest rate will not change during the tenure. You can continue to enjoy the best fixed deposit interest rates, even if the norm changes in the future. If you do not want to lock a hefty sum in fixed deposits, you can use the concept of laddering. This means putting some amount in a long term fixed deposit and the rest in short-term schemes. This will ensure liquidity and optimized interest on your investment amount.

Here are a few tips for managing multiple fixed deposits and making the most from your investments.

  • Try not to make premature withdrawals. This could lead to penalties, and you may end up losing money. It is always a good idea to keep some funds in a savings account to manage any liquidity problems. You can also call this your emergency fund and try to keep aside a sum equivalent to three to six months of your monthly income.

  • Make it a habit to understand taxation policies before making any investment. The interest earned on a fixed deposit gets deducted at the source. If you do not fall under the said category, you may have to submit Form 15G or 15H, as applicable.

  • Plan your investment - When you come across the best fixed deposit interest rate in the market, you may get tempted to put a huge chunk of your savings in it. However, it is suggested to plan your monthly expenses and future requirements before committing your savings to a fixed deposit.

Final Thoughts

There never will be a better time to start investing and saving up than now. The earlier one starts, the more he/she stands to gain and save. So, consider Bajaj Finserv Fixed deposit in your investment portfolio for a secure financial future.

Recommended Read: FD Vs Post Office Saving Scheme - Which is Better?