Fixed Deposit v/s Savings Account: Where should One Choose to Invest

Fixed Deposit v/s Savings Account: Where should One Choose to Invest

Investing in a sound financial tool that is unlikely to get impacted by market fluctuations is a great option to safeguard ones earnings. Fixed deposits and savings accounts are both stable investment platforms that give investors the opportunity of earning fixed, secured returns.

Bajaj Finance offers FD interest rates up to 6.75% p.a.

As an investor, one may find it better suited to park savings in the bank. However, this is isnt the smartest option as steady investment tools generally do not reap impressive returns. Savings account interest rates range between 2.5% and 5.5%. To get the dual advantage of high returns and deposit safety, consider investing in a company fixed deposit like Bajaj Finance.

Heres why Bajaj Finance online FD is a preferred investment avenue:

Earn more with attractive FD interest rates

With the Monetary Policy Committee (MPC) maintaining their status quo on the repo rate, keeping it at 4%, bank FDs are recording lower returns. However, Bajaj Finance is one such financier that offers high FD interest rates up to 6.75%.

Heres how an investment of Rs. 20 lakh can grow for different categories of investors over a tenor of 60 months.

Investor profile

Interest rate applicable

Total interest earned (Rs.)

Maturity amount (Rs.)

Citizen below 60 years applying offline

6.50%

7,40,173

27,40,173

Citizen below 60 years applying online

6.60%

7,53,062

27,53,062

Senior citizen applying offline/ online

6.75%

7,72,486

27,72,486

Flexible pay-out options

A savings account pays interest as per the bank rules and savings account type. However, with Bajaj Finance FD, investors can choose to receive periodic interest pay-outs based on their liquidity requirements. Investors can get pay-outs on a monthly, quarterly, half-yearly or annual basis.

Loan against FD

This feature comes in handy during financial emergencies when one requires additional funds to meet specific liquidity requirements. Bajaj Finance offers a loan against FD – a facility that helps one get a loan of up to 75% of the fixed deposit amount. No interest will get deducted on resorting to this alternative.

Easy online investment process

With Bajaj Finance online, FD investors can start their investment journey from the comfort of their homes. Bajaj Finance offers a complete end-to-end paperless online application process. Individuals below 60 years can get an additional rate benefit of 0.10% on investing online.

Safety and credibility

Stable investment instruments like FDs protect investment portfolios from losses incurred by equity-linked investment instruments such as mutual funds and stocks. Moreover, they come with the promise of secured returns and the safety of deposits.

Bajaj Finance FD is accredited with the highest stability rating of FAAA and MAAA from CRISIL and ICRA, ensuring that ones savings are in a safe investment environment, irrespective of ongoing market risks.

Therefore, one can easily invest in a Bajaj Finance online FD without worrying about deposit safety, timely pay-outs or defaults.

»Fixed Deposit v/s Savings Account: Where should One Choose to Invest«

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