Pune, Maharashtra, India:  Fixed deposit investors have reason to cheer after the recent Monetary Policy Committee meeting, as a key decision made was to maintain status quo on the RBI’s repo rate. While studies forecast a reduction in the benchmark lending rate in the future, as for the present, the repo rate remains at 4%, thus exerting no further downward pressure on FD interest rates. Hence, investors can continue to lock into attractive FD rates as 2020 draws to a close. With the Bajaj Finance Fixed Deposit, customers can earn at FD rates of up to 6.85%. Further, investors benefit from the safety of an AAA-rated instrument and can make an FD investment to lend stability to their portfolio.

Here is how investors can benefit by locking into an FD now.

Earn at up to 6.85% for the entire tenure

Bajaj Finance offers some of the best FD interest rates at present, and these run up to 6.60% for non-senior citizens and 6.85% for senior citizens. What is impressive is that customers can lock into an FD for a tenure of even 5 years, and continue to earn at the current rates, even if the repo rate drops in the future.

Below is a table generated with the FD interest calculator indicating how customers can grow their savings by locking into the Bajaj Finance FD.

• Deposit amount: Rs.10,00,000
• Tenure: 5 years

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Investor	Interest rate	Interest earned	Maturity value
Non-senior citizen investing offline	6.60%	Rs.3,76,531	Rs.13,76,531
Non-senior citizen investing online	6.70%	Rs.3,83,000	Rs.13,83,000
Senior citizen	6.85%	Rs.3,92,748	Rs.13,92,748

 
By investing online, regular customers get an additional interest rate benefit of 0.10%. Senior citizens, however, benefit from a 0.25% rate hike on the FD rates whether they book an online FD or not.

Invest flexibly keeping goals in mind

An upside to investing in an FD is that the lock-in period is flexible. This is something that one has to give up with other safe instruments like PPF. Bajaj Finance offers customers a 12- to 60-month tenure and customers can keep their funds invested for a suitable period, as per their goals. However, for the best fixed deposit rates, one should invest for at least 3 years.

Similarly, customers who need frequent earnings for recurring needs can opt for regular interest payouts. On the FD calculator, monthly interest payouts are shown alongside payouts for other frequencies, like quarterly, half-yearly, and yearly. The lower the payout frequency, the higher is the FD interest rate. Nevertheless, customers can opt for a payout frequency as per their convenience and needs.

Get assured returns via a safe instrument

The Bajaj Finance FD carries the highest stability ratings offered by ICRA and CRISIL, MAAA and FAAA respectively. This means that customers can earn at up to 6.85% and expect timely returns with zero defaults. As opposed to market-linked instruments, here, investors enjoy an element of security. The FD’s reliability makes it useful to any portfolio.

Bajaj Finance has a deposit book of more than Rs. 22,000 crores, with 2,35,000 unique FD customers. Along with high safety and returns at up to 6.85%, the

Bajaj Finance FD also offers features such as:

• Systematic Deposit Plan
• FD auto-renewal
• Multi-deposit facility
• Online loan against FD

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Investing in this FD and benefitting from such features is extremely convenient and hassle-free. Customers need only book a Bajaj Finance online FD from the comfort of their homes to lock into the current rates immediately and get a 0.10% FD rate bonus.