Should you lock into interest rates up to 6.85% with Bajaj Finance FD?

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Should you lock into interest rates up to 6.85% with Bajaj Finance FD?

Bajaj Finance’s new interest rates have not just boggled the other financing/ non-financing companies but also the customers. With RBI’s bi-monthly meet on December 4, 2020, the kept repo rates remained unchanged at 4% and the reverse repo rate also remained unaltered at 3.35%. This left the banks with no other choice than to slash their fixed deposit interest rates. At that point Bajaj Finance’s whopping 6.85% interest rate has attracted a lot of customers. In addition to this increase in interest rate, customers are also provided with ease of investment, attractive returns and the comfort of high liquidity. 

With Covid 19 disrupting everyone’s lives, the finances have also taken a bad fall. In a situation of negative news, this has surely come as a fresh wave for the customers wanting to gain higher interest rates on their fixed deposits. It is due to this reason that Bajaj Finance’s new FD scheme is a wise choice for many. 

Individuals who are below the age of 60 will have the benefit of 6.60 % interest rate with an addition of 0.10% interest if they invest online. For senior citizens, the interest rate is increased by 0.25% irrespective of the way the investment was made. The Bajaj Finance Fixed deposit is all the more beneficial if you are planning to invest for a longer duration of time. 

Bajaj Finance’s multi deposit facility, that is making multiple investments from the same account. It has further increased the rate at which the customers can avail benefits and also reduce the risks involved. The credit amount is sent to the bank account in a timely way and the recurring investments are made when times are favorable for the investment. The FD interest rate is also higher than that of PPFs and Recurring investments. 

It has now become more than important to make wise financial decisions so that maximum benefits can be withdrawn. With their online facility, long queues can also be avoided, thereby minimizing the spread of the virus and more benefits for the customers. 

 

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