If you’re worried about falling interest rates and safety of your deposit, make a smart choice by investing in a Bajaj Finance Fixed Deposit. Read along to know how to secure your retirement with a Bajaj Finance FD.
Earn at an 8.60% interest rate through your working years
Bajaj Finance offers new customers interest rates running up to 8.60% on FDs taken for at least 3 years with interest payouts at maturity. A high interest rate means that you can begin to fuel your retirement corpus and battle the effects of inflation as well. Fetching a generous interest rate when you are in your working years lets you build a large retirement fund as you earn interest on interest for a longer tenor.
Consider that you invest an amount of in a Bajaj Finance FD for a 5-year tenor at an interest rate of 8.60%, and take back your proceeds at maturity. Using the FD Calculator, you can check how this amount grows over time.
Here’s a table to help you understand the growth of your savings at the end of 5 years.
Applicable interest rate of 8.60%
| Investment amount | Maturity amount | Earned interest | Return on investment |
| 1,00,000 | 1,51,060 | 51,060 | ~51% |
| 5,00,000 | 7,55,299 | 2,55,299 | ~51% |
| 10,00,000 | 15,10,599 | 5,10,599 | ~51% |
If you make such investments at an age of 30, you can consider re-investing your proceeds for another 5-year term. This way, you can double your initial investment amount in 10 years, and keep building your corpus.
Benefit from a 0.10% rate increase when you renew your FD
Bajaj Finance helps you gain more when you renew you FD by awarding you with a 0.10% rate hike. So, in the above examples, if you renew your Bajaj Finance Fixed Deposit, the interest rate applicable will be 8.70%, for the second 5-year term.
This interest rate hike also serves as an incentive to carry on investing. When it comes to building a retirement corpus, regularity in investing is vital as compound interest requires a long tenor to transform small contributions into giant sums.
Get 0.25% rate hike if you are an existing customer or a Bajaj employee
Investing in an FD gets even sweeter if you happen to be an existing customer or a Bajaj employee. Bajaj employees include Bajaj Group employees, Bajaj Finance Limited customers and Bajaj Allianz Life Insurance’s existing policyholders. Here, you get a 0.25% interest rate boost. This means that your FD yields returns at a maximum interest rate of 8.85%.
Here’s a table to help you understand the growth of your savings at the end of 5 years, if you’re an existing customer.
Applicable interest rate of 8.85%
| Investment amount | Maturity amount | Earned interest | Return on investment |
| 1,00,000 | 1,52,807 | 52,807 | ~52% |
| 5,00,000 | 7,64,033 | 2,64,033 | ~52% |
| 10,00,000 | 15,28,066 | 5,28,066 | ~52% |
Grow your finances securely at an interest rate of 8.95% post-retirement
Senior citizens can get 0.35% more interest rate with a Bajaj Finance Fixed Deposit, which means you can earn an interest rate of up to 8.95%, after your working years.
That’s not all. Bajaj Finance Senior Citizen Fixed Deposit is also a convenient instrument for senior citizens to invest in as it promises payouts sans defaults. In fact, this FD comes with ICRA’s MAAA and CRISIL’s FAAA ratings. These being the highest in their respective categories, guarantee the safety of finances and make investing money a less risky affair.
Here’s a table to help you understand the growth of your savings at the end of 5 years, if you’re a senior citizen.
Applicable interest rate of 8.95%
| Investment amount | Maturity amount | Earned interest | Return on investment |
| 1,00,000 | 1,53,510 | 53,510 | ~53% |
| 5,00,000 | 7,67,549 | 2,67,549 | ~53% |
| 10,00,000 | 15,35,098 | 5,35,098 | ~53% |
