It is always prudent to know about the Fixed Deposit interest rates 2022 before investing in an FD. It will help you to make a wise decision as the FD rates directly influence the returns. As banks have lowered the FD rates in the last couple of years, investors are not too keen on investing in bank FDs. To deal with the liquidity issues, banks have started increasing Fixed Deposit rates slowly. However, the bank fixed deposit rates are still not lucrative as they were a few years before. Therefore, if you are planning to invest in FDs, corporate FDs can be a better option in many ways.
Bajaj Finance FD, for instance, is offering a high FD interest rate of up to 6.80% currently. For senior citizens the FD rate can go up to 7.05% as they get a 0.25% extra FD rate than others. These FD rates are enough to generate one of the highest FD interest rates which will be much higher than bank FDs or even post office term deposits. Bajaj Finance FD rates across different tenors are given in the below table:
| Tenor Range (in months) | Cumulative FD rates | FDs with monthly interest payout | FDs with Quarterly interest payout | FDs with Bi-annual interest payout | FDs with yearly interest payout |
|---|---|---|---|---|---|
| 12-23 | 5.65% | 5.51% | 5.53% | 5.57% | 5.65% |
| 24-35 | 6.40% | 6.22% | 6.25% | 6.30% | 6.40% |
| 36-60 | 6.80% | 6.60% | 6.63% | 6.69% | 6.80% |
Apart from a higher FD rate across the tenor range, Bajaj Finance FD enables you to select a tenor between 12 and 60 months. Also, the minimum deposit amount to start an FD is only Rs. 25,000. Some of the other interesting features of this FD scheme are highlighted below:
Loan against Fixed Deposit
Bajaj Finance FD lets you borrow a loan up to 75% of your FD value. This loan enables you to manage a difficult financial situation with ease.
Simple withdrawal norms
With Bajaj Finance FDs, you don’t have to wait for long if you want to withdraw your deposits prematurely. Only wait for the deposits to complete a tenor of 3 months from the deposit date and the decision to continue with the investment or not will be yours.
Online paperless investment
You can start an FD in just 10 minutes with Bajaj Finance FD. The end-to-end paperless investment process includes provision of an online FD form and CKYC process to verify documents. The deposits can be transferred via UPI or net banking as per your convenience.
Safe Investment with Fixed Deposit
Considering the present situation in the market, you would like to park your earnings in an investment that doesn’t crumble down due to an unprecedented crisis in the market. Bajaj Finance FD is one of those investment options that will keep your money safe during the turbulent times. Moreover, you would also be able to grow your investment at an FD rate that is much higher than what its competitors offer. The high credit ratings provided by CRISIL and ICRA validate the credibility of this FD scheme.
To deal with the present market condition, you should invest in a stable investment option like FD. However, you should also compare the FD rates offered by different banks and NBFCs. Presently, Bajaj Finance FD offers one of the highest FD rates in India.
Along with high FD returns, it also provides flexible tenor and options like loan against FD and premature withdrawals that ensure that you face a financial crisis without any issues. The stability that this instrument offers to your deposits is another reason why you should park your earnings and savings in it.