Pune (Maharashtra) [India], September 6: Investors frequently opt for fixed deposits (FDs). They offer a fixed interest rate, which means that you know how much money you will earn over the term of the investment. This can be helpful for budgeting and financial planning.
If you are looking to earn monthly income from your FD, you can opt for a monthly interest playout option. This will help you to manage your cash flow and meet your regular expenses.
You can use the Fixed Deposit interest calculator on Bajaj Finance platform to help you plan your investment. This calculator will help you to calculate the amount of interest you will earn each month, as well as the total interest earned over the term of the investment.
Here some advantages of investing in an FD
* Safety of capital: FDs are considered one of the safest investment options. The principal amount is typically protected, and you're assured of getting your invested amount back along with the promised interest.
* Predictable returns: FDs provide fixed interest rates, so you know exactly how much you'll earn on your investment. This predictability can be valuable for budgeting and financial planning.
* Steady income stream: FDs can offer regular interest payouts, which can serve as a stable source of income, especially for retirees or those seeking regular cash flow.
* Liquidity: While FDs have a fixed tenure, they still offer a degree of liquidity. Most banks and NBFCs allow premature withdrawals with a penalty, providing access to funds in case of emergencies.
* Diversification: FDs can be used to diversify your investment portfolio, particularly if you have riskier investments in other asset classes like stocks or mutual funds.
* Ease of investment: Opening an FD is a straightforward process, and it's accessible to both beginners and experienced investors. You can start with a relatively small amount of money.
* No market risk: Unlike investments in stocks or mutual funds, FDs are not subject to market fluctuations, making them a stable choice, especially during economic downturns.
* Wide range of options: Banks and financial institutions offer a variety of FD options, such as regular FDs, senior citizen FDs, and special tenure FDs, allowing you to choose one that suits your needs.
* Savings Discipline: FDs encourage disciplined savings since the funds are locked in for a specific tenure, helping you meet your financial goals.
Bajaj Finance provides appealing Fixed Deposits interest rates, reaching up to 8.60 per cent per annum. You have the option to initiate your investment with a modest sum of Rs 15,000. The minimum deposit period is 12 months, while you also have the flexibility to select a tenure of up to 60 months. Additionally, special interest rates are available for specific tenures such as 15, 18, 22, 30, 33, and 44 months, respectively.
Using the FD interest calculator can help you to simplify your financial independence journey. It can help you to understand how much interest you will earn on your investment, making sure that your investment is aligned with your financial goals.
Join over 12 million depositors, start an FD with Bajaj Finance today!
(Disclaimer: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)