There was no change in interest rates from RBI, know where you will get more benefit by getting FD

New Delhi. RBI Governor Shaktikanta Das announced no change in the repo rate and reverse repo rate, which will remain unchanged at 4% and 3.35% respectively. The announcement was made after the meeting of the Monetary Policy Committee (MPC) scheduled from June 2, 2021 to June 4, 2021. RBI has not changed the repo rate for the sixth time in a row. The repo rate has not been changed in order to control inflation and keep it close to the MPC’s target of 4%. Further, given the very weak economic conditions at present, these measures may help in increasing the cash flow in the market.

Though this has made it much easier for people to take loans, all financiers are under tremendous pressure to reduce the deposit rate. The current situation around the world has exposed the importance of savings to the people, which is even more so for emergencies. With the recent announcements, there may be further reduction in the deposit rate, which is why it is important for investors to invest at the current higher FD rates to grow their corpus. Some investors may consider investing in market-linked instruments, but such investments are subject to risks that are dependent on market movements.

Why FD is a better option

The interest rates on FDs have been almost constant for the last two years. In such a situation, as an FD investment, it is important to know in which way they can get maximum returns. There are many options in the market for investing in FDs. Let’s know where the interest is getting

company interest rate

Bajaj Finance – 6.75%
SBI – 5.40%
ICICI – 5.50%
HDFC Bank – 5.50%
Punjab National Bank – 5.25%

how to make strategy

To diversify and balance your investment portfolio, it is best to opt for a sound financial plan that is not affected by market movements. In the current era, online FDs including Bajaj Finance can be a preferred investment option for many, which offer attractive returns along with the highest safety of your deposits.
Bajaj Finance Online FD offers very attractive interest rates of up to 6.75% to senior citizens on any investment channel, while non-seniors who invest online get an interest rate of up to 6.60%. These interest rates are relatively high as compared to post office and all other bank FDs. The higher interest rate ensures better returns on maturity to the investors, thus increasing their corpus.

This way you can consider attractive FD rates applicable across different tenors. Due to the advantage of compound interest, one can get higher returns on long-term investments. It becomes clear from this table that, investors who invest in Bajaj Finance Online FD can get substantial returns.

Apart from this, you can also avail the option of getting payouts at regular intervals by investing an equal amount in a non-cumulative FD for a tenure of your choice. Investors can choose to receive payments on a monthly, quarterly, half yearly, yearly basis, or on maturity.

premature withdrawal

Any investor can prematurely withdraw money from his fixed deposit during an emergency. Bajaj Finance offers easy loan against FDs, allowing investors to avail loans up to 75% of the amount invested on their FDs. The process of giving loan against FD requires minimal paperwork, and the process is completed instantly without any extra charges.

convenient online process

Now investors can invest in FDs without the hassle of submitting copies of various documents and standing in long queues.

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