Investing in a fixed deposit not only gives you an assured return on maturity, but also the freedom to choose regular interest payouts all through the maturity tenor. This variant of fixed deposits is known as a non-cumulative FD.
Since you get your interest periodically, this means that you earn a little less in comparison to cumulative FDs, where your interest is added to the principal and compounded. So, park your investment in a high-interest FD Scheme.
Start a Fixed Deposit from India’s most trusted non-banking finance company, Bajaj Finance, to get the most out of your investment.
Here’s why investing in a Bajaj Finance Fixed Deposits earns you a good regular income.
It offers you a higher interest on non-cumulative FDs
Marked with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating, the Bajaj Finance Fixed Deposit allows you to park your investment safety. Along with that, you get the benefit of high interest when you choose the non-cumulative variant.
For example, when you choose a tenor of 12-23 months then on a non-cumulative FD the monthly, quarterly, half-yearly, and yearly interest rate will be 7.35%, 7.39%, 7.46%, and 7.60% respectively.
Similarly choosing a tenor of 24-35 months will get you monthly, quarterly, half-yearly, and yearly interest rate as 7.53%, 7.58%, 7.65%, and 7.80% respectively.
Investing for 36-60 months will fetch you monthly, quarterly, half-yearly, and yearly interest rate of 7.58%, 7.63%, 7.70%, and 7.85% respectively. So, choose a longer tenor to get higher payouts.
It allows you to calculate your monthly earnings with ease by offering the FD calculator
You can simply use the Bajaj Finance FD Calculator to toggle the components and arrive at a maturity amount, based on the most compatible tenor. Based on the type of your FD, i.e. cumulative or non-cumulative, and the amount of your principal, you can calculate the interest amount earned for the tenor you choose with ease.
It gives you the option of choosing an ideal compounding frequency
The more frequent the compounding on your invested sum is, the better it is for you as this will earn you more interest income through the tenor you choose. Moreover, as you are accessing your interest payouts in regular intervals so choosing a monthly, quarterly, and half-yearly compounding will fetch you higher income regularly. And Bajaj Finance allows you to choose your frequency to allow complete growth of your investment.
It gives you renewal benefits
Attractive rate of interest and high safety parameters is just the start; Bajaj Finance also gives an additional 0.25% interest on your existing interest on the renewal of your Bajaj Finance FD. Returns at 8.45% are offered to senior citizens on FD renewals. Returns at 8.10% are also offered to existing loan customers, Fixed Deposit customers, and Bajaj Group employees.
It gives senior citizens higher earnings on monthly income
If you fall within the age bracket of 60 years and above, then Bajaj Finance allows you to earn an 8.20% interest on your FD with the principal up to Rs.5 crore. This interest offering for the senior citizen is one of the best in the market and makes Bajaj Finance one of the leading financial contenders in this category. So, you can get enjoy greater rewards on your non-cumulative FD.
It allows you to maximise your investment cap by parking a good sum
Use the calculator to arrive at the right sum to get needed returns every month. For example, if you need to at least have Rs. 31,000 in hand every month to meet your expenses then you will need to invest Rs. 10,00,000 as principal at a non-cumulative monthly interest of 7.58% for a tenor of 5 years.
Going by this figure, your maturity amount after adding your interest value will be Rs. 13,79,000. And you will get the Rs. 3,79,000 paid out to you monthly as a regular income of Rs. 31,584. You can increase the principal proportionately to fetch more returns.
Bajaj Finance Fixed Deposit thus allows you to regular income with high interest to meet your financial needs.