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Where to find the best Interest Rates on Fixed Deposits?

Investments are all about getting returns. People invest in different schemes like mutual funds, real estate or stocks and bonds to get higher returns. However, high returns are not the only necessity of investments. Investing in low-risk schemes is also necessary to get fixed returns. Fixed Deposits are such low-risk investments that give guaranteed returns.

FDs used to be low returns investments for so long till now. However, different banks and Non-Banking Finance Companies like Bajaj Finance have hiked their FD interest rates. Thus, now you can enjoy safe, guaranteed as well as high returns through investments in Fixed Deposits. Below mentioned are a few banks and NBFCs that offer fixed deposits at higher interest rates:

Bank FDs

Reputed banks such as State Bank of India (SBI), Punjab National Bank, ICICI Bank, HDFC Bank, etc. offer FDs at an interest rate between 6 to 7.50%. Out of all the bank FDs, SBI provides a highest interest rate of 7.25%. Senior citizens enjoy even higher interest rate up to 50 basis points. Hence, the senior citizen FD rates lie in the range of 7.25% - 7.35%.
You can open an FD account with any reputed bank through an online or offline application.

Considerations for Bank FDs

        Though bank FDs are safe investments, the interest rate provided is lower than that provided by company FD. You can only get high returns by investing for longer tenors.
        Bank FDs have lower liquidity as you cannot withdraw the amount before its maturity
        In the case of emergency when you opt for premature withdrawal, you are required to pay 1% penalty. Additionally, you will have to bear the loss of interest earned to date.
        Unlike other investments like stocks and bonds Bank FDs are not easily transferable to from one account holder to another account holder.

Company FDs

Investing in company fixed deposits give you returns at higher interests compared to bank FDs. Although company FDs are unsecured, investing in a certified company can give you guaranteed returns. Out of many NBFCs that offer FD facilities, Bajaj Finance provides the highest interest rate on FDs. With an FD interest rate that can go up to 8.40%, Bajaj Finance FD is the best option for company FDs. The senior citizen FD interest rate provided by Bajaj Finance is up to 8.75%. Additionally, you can earn extra 0.25% interest rate by depositing principal amount for 15 months. You can apply for a Bajaj Finance FD easily through an online application. Moreover, you can get the below-mentioned benefits by investing in a Bajaj Finance FD:

High-Interest Rate

Enjoy the highest company FD interest rates. With interest rate that can reach up to 8.75%, you can grow and accumulate your wealth.

Senior Citizen Benefits

Along with higher interest rates senior citizens enjoy tax benefits as well. For every individual, 10% tax is deducted on every Rs. 10, 000 earned as interest income. However, senior citizen FDs get an exemption from this deduction.

Flexible Tenors

You can select an FD tenor in between 12 to 60 months according to your convenience and financial plans.

FD Calculators

In order to select the best tenor for your principal amount, you can use Bajaj Finance FD calculators. You can get the idea of returns that you will get for a combination of different type of principal amount and FD tenor combination.

Online Account Management

Along with the online application, you can also manage your FD account online through Bajaj Finance portal.


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