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Benefits For Senior Citizens In Investing In Bajaj Finance Fixed Deposit

Fixed deposits remain one of the most credible investment options for Indian investors. The high-interest rates, assured returns, flexible tenor, tax benefits, and a wide range of choices have made it a popular investment instrument for investors across all classes- including senior citizens.

Unlike young investors, senior citizens cannot afford to lose their capital.  FDs are considered to be one of the safest investment options for senior citizens as the safety of the principal amount is guaranteed, and the returns on FD do not get affected by changing market conditions.

To avail higher returns from fixed deposits, senior citizens should explore FD schemes offered by non-banking financial companies like Bajaj Finance. Senior Citizen Fixed Deposit from Bajaj Finance remains one of the most popular choices among senior citizens as it offers a host of benefits like:

  • Online access

Senior citizens can access their fixed deposit accounts from the comfort of their homes using Experia- your online fixed deposit account. It is the online customer service portal of Bajaj Finance that facilitates online account opening, online transactions, and tracking and management of multiple FDs.

  • FD calculator

Comparing different fixed deposit schemes and calculating the returns can be done easily with the help of Online FD calculator from Bajaj Finance. Hence, senior citizens do not need an investment advisor to help them select and manage their FD investments. By entering simple details like the principal amount, rate of interest, and interest payout frequency, total earnings can be calculated using the fixed deposit calculator.

  • Flexibility

You can select the deposit amount and tenor as per your convenience. You can start investing with as low as INR 25,000, and the upper limit is INR 5 crores. The tenor can be set between 12 months to 60 months as per your preference. Short tenors will help you safeguard your investments against inflation while long tenors can help you build a substantial corpus. It’s best to stagger your deposits across different tenors.

  • High-interest rates

Bajaj Finance offers some of the best interest rates in the Indian market with up to 8.75% for regular customers. However, senior citizens can enjoy a higher interest rate up to 9.10% which makes it 0.35 higher than the regular interest rate. This privilege is only provided to the senior citizens to help them earn more on their savings.

  • Stability

Fixed deposits are low-risk investments since they are not affected by market risks and fluctuations. Bajaj Finance FD has been accredited with high safety ratings by ICRA and CRISIL. Therefore, senior citizens do not have to worry about their investments while investing in Bajaj Finance Fixed Deposits.

  • Liquidity

With Senior Citizen Fixed Deposit scheme from Bajaj Finance, you can easily go for a premature withdrawal whenever there is an urgent requirement for cash. You can also avail a loan against FD at a very nominal rate of interest.

  • Range of options

With Bajaj Finance, you can choose the interest payment frequency as per your needs. You can use your FD investments as a source of generating stable income by choosing non-cumulative FDs that offer monthly, quarterly, and half-yearly payouts. Such periodic earnings can be used for meeting regular expenses post-retirement.

Senior citizens who are targeting long term investments can apply for cumulative fixed deposits that generate sizeable returns at the end of FD tenor. The interest for these deposits is calculated on a compounded basis which provides higher maturity amount. However, it should be noted that for greater returns you have to lock-in the deposit for a longer duration.

The FD interest rates offered by Bajaj Finance are perfect for generating high returns. Also, your invested amount remains immune to changing market conditions when you invest in Bajaj Finance FD. It is an ideal option to offset the risks that other market-dependent investments bring to your portfolio. Therefore, senior citizens who are looking for a stable and fixed source of income can invest in a Bajaj Finance FD to minimize their investment risks and to maximize the returns from their savings.

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Written by Aman Khanna

Aman  is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms.

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