With India’s workforce being subject to pay cuts and massive layoffs in the last 6 months, with over 10.8 million jobs lost as per research by a leading web portal , the need for careful financial planning is ever apparent. Thankfully, in many sectors, the economy is picking up, salary hikes are a reality, and employers are looking to offer a Diwali bonus this year. This Diwali, one should consider investing for their future in an instrument like the Bajaj Finance Fixed Deposit instead.
With FD interest rates running up to 6.85%, investing in this FD would help one get financially back on track. Given its easy online mode of investing, customers can go from planning their investment to earning at some of the best fixed deposit rates in no time at all.
Here’s more on growing one’s Diwali bonus with the Bajaj Finance FD.
Get the best FD interest rates
Bajaj Finance offers FD interest rates of up to 6.70%. For maximum interest gains, invest in an online FD, as it gives a 0.10% FD rate bonus, and opt for payouts at maturity only. Additionally, senior citizens can benefit from 0.25% additional interest rates, regardless of their mode of investment. This rate benefit can help them fund their post-retirement expenses easily.
Bajaj Finance has a minimum deposit requirement of just Rs.25,000, making it easy for one to invest their Diwali bonus and savings. To forecast earnings, investor can use the easy Fixed Deposit Calculator.
Below is a table with interest figures from the FD interest calculator to help plan one’s investment better.
|Type of FD||Investment amount (Diwali bonus and salary)||Interest rate||Tenor||Maturity amount||Growth of Diwali bonus and savings|
|Non senior citizen (offline)||Rs.50,000||6.6%||60 months||Rs.68,827||37.65%|
|Non senior citizen (online)||Rs.50,000||6.7%||60 months||Rs.69,150||38.30%|
Grow money securely
Market volatility in the recent past has underscored the importance of asset allocation, that is, growing part of one’s funds safely. The Bajaj Finance FD offers a safe way to build wealth. It carries CRISIL’s FAAA rating and ICRA’s MAAA rating, and both these point to stability and credibility. With these ratings, investors can look forward to zero capital loss and timely payouts at maturity. With a deposit book of over Rs.20,000 crores, Bajaj Finance gives investors a way to grow their Diwali bonus reliably.
Plan short and long-term goals effectively
In order to witness one’s Diwali bonus grow towards a particular goal, pick an appropriate tenure. Bajaj Finance offers tenures ranging from 12 to 60 months, allowing investors to stay in control of their investment with ease. Moreover, in one can opt for periodic interest payouts should they need regular liquidity and on the FD calculator, monthly interest payout values clearly displayed.
Choose the SDP route to start small
Investors who prefer to avoid a lumpsum investment, can start a Systematic Deposit Plan (SDP) and make monthly contributions of Rs.5,000 or above. They can opt for a:
- Monthly maturity scheme: Invest in 6 to 48 deposits, apply a uniform tenure to them all, and get payouts as each matures.
- Single Maturity Scheme: Invest in an FD each month and receive the total maturity proceeds on a single day. Here, the tenure of each FD necessarily decreases.
So, this Diwali, investors must look at ways of making their money work for them. With a range of flexible investing options, Bajaj Finance ensures that investors remain in control of their money and their investment. To invest via a 100% online process, book a Bajaj Finance online FD today. Remember, investors get an additional 0.10% on the current FD rates if they book online – a bonus on one’s Diwali bonus – so make sure to grow wealth the right way this year.