Grow your Retirement Fund Effortlessly with Bajaj Finance Fixed Deposit

Grow your Retirement Fund Effortlessly with Bajaj Finance Fixed Deposit

Planning your post-retirement finances demands careful thought and discipline. After all, with inflation threatening to devalue one’s savings over time, growing wealth becomes all the more critical. The investment strategy depends on the number of working years one has in hand, for one needs to strike a neat balance between risks and returns. With that in mind, it is wise to diversify your portfolio with a mix of market-linked and fixed-income instruments. While you can always turn to stocks or mutual funds for the former, a fixed deposit is one of the most trusted methods to invest safely. Bajaj Finance FD is a financier that offers the dual benefit of high FD rates and deposit safety.

Here is how one can prepare for retirement with the Bajaj Finance FD.

Boost your savings at up to 7.05% in an AAA-rated instrument

Bajaj Finance gives investors an enticing blend of high FD interest rates and investment stability. Customers below 60 years of age can earn up to 6.80%, and senior citizens can make as much as 7.05%. Bajaj Finance Fixed Deposit also carries ICRA’s MAAA rating and CRISIL’s FAAA rating. These high ratings assure a default-free investment experience with timely payouts.

Here is how one can grow their savings with Bajaj Finance FD.

1. Citizen below aged below 60

Initial Deposit

Tenor

Interest Rate

Maturity Value

Rs. 3,00,000

60 months

6.80%

Rs. 4,16,848

Rs. 5,00,000

60 months

6.80%

Rs. 6,94,746

Rs. 10,00,000

60 months

6.80%

Rs. 13,89,493

2. Senior Citizen

Initial Deposit

Tenor

Interest Rate

Maturity Value

Rs. 3,00,000

60 months

7.05%

Rs. 4,21,749

Rs.5,00,000

60 months

7.05%

Rs. 7,02,916

Rs.10,00,000

60 months

7.05%

Rs. 14,05,832

Get up to 0.25% more and benefit from regular payouts

Senior citizens get an additional rate benefit of up to 0.25%, and this is beneficial as one would not want to expose their life earnings to many risks after retirement.

One can also pick a non-cumulative FD for regular income through post-retirement years and utilise them to fund recurring expenses like rent, medical bills, household expenses, and more.

Consider an example where a senior citizen invests their life savings in an FD. The table encapsulates the payouts receivable.

Investment Amount: Rs. 25,00,000

Tenor: 60 months

Payout Frequency

Rate

Total Payout

Total Interest Payout

Approximate Periodic Payouts

Yearly

7.05%

Rs. 33,81,250

Rs. 8,81,250

Rs. 1,76,250

Half-yearly

6.93%

Rs. 33,66,250

Rs. 8,66,250

Rs. 86,625

Quarterly

6.87%

Rs. 33,58,750

Rs. 8,58,750

Rs. 42,938

Monthly

6.83%

Rs. 33,53,743

Rs. 8,53,743

Rs. 14,229

Gain from the flexible tenor and laddering facilities

Usually, safe instruments have long maturity terms and strict lock-in rules. A fixed deposit, however, offers investors a relaxed tenor. With Bajaj Finance, one can see their savings grow over 12 to 60 months. Opt for a tenor of 36 months or more for the maximum interest rate benefit.

Laddering is another option to consider to boost retirement corpus and enjoy periodic liquidity. Here, one invests in multiple FDs of differing tenors, such as 1, 2, 3, 4 and 5 years. Once the FD with the shortest tenor matures, they can reinvest the proceeds in an FD with a tenor equal to the longest one. This way, investors create a continuous income cycle while also remaining invested.

Retirement planning is a strategic task that requires one to account for risks, returns, inflation, taxation, lifestyle, and more. The instruments you pick are vital, but it is also crucial to start soon. Bajaj Finance online Fixed Deposit is an ideal investment option to safeguard one’s golden years.

↯↯↯Read More On The Topic On TDPel Media Below↯↯↯

»Share Your Opinion On TDPel Media«