The Bajaj Finance Fixed Deposit Calculator is an efficient online tool to use before you invest in an FD.
How to use the calculator?
Follow these steps to use the FD calculator:
- Select if you are opting for the special tenor scheme.
The special tenor scheme from Bajaj Finance comes with a lock-in period of 15 months.
- Select any of the following:
- New customer
- Bajaj Group employee, FD customer, or existing loan customer
- Senior citizen
- Select your preferred type of FD:
- Select the interest payment frequency
Note that you cannot select a payment frequency if you choose a cumulative FD. On the other hand, non-cumulative FDs come with payment frequencies of monthly, quarterly, half-yearly, and annually.
- Select the fixed deposit amount
The minimum amount that you can deposit is Rs. 25,000 and use FD calculator to calculate the maturity amount. However, you need to deposit minimum Rs. 1 Lakh if you opt for the special tenor scheme.
- Select the months for which you want to invest the funds
The lock-in period ranges from 12 to 60 months. It will remain fixed for 15 months if you are applying for the special tenor scheme. So, choose your tenor according to your financial requirements.
Features of Bajaj Finance Fixed Deposit:
Fixed Deposits from Bajaj Finserv come with the following features:
- Interest rates up to 9.10%
You can avail rates of interest up to 8.75% with an FD. Senior citizens can receive 0.35% more on the basic interest rates, taking it to 9.10%. Again, Bajaj Group employees, existing loan customers, and existing FD account holders receive 0.25% higher rate of interest than usual.
- High safety and stability
Bajaj Finance Fixed Deposits are certified safe and stable. They hold FAAA rating from CRISIL and MAAA rating from ICRA.
- Simplified eligibility criteria
You need to be either of the following to apply for an FD from this financial institution:
- An Indian citizen
- Hindu Undivided Family (HUF)
- Companies, a group of companies, partnership, sole proprietorship, etc.
- Trusts, societies, associations, clubs, etc.
- Minimal documentation procedure
The financial company requires only your latest photograph and KYC documents (Aadhaar, PAN, Voter ID, Passport, Driving License, etc.) to provide you with an FD account.
- Easy online application
You can invest in a fixed deposit easily by providing the following information in a simple online form:
- Mobile number
- Email ID
- The amount you want to deposit
- Loans against fixed deposit
Bajaj Finserv offers a Loan Against Fixed Deposit against a few basic documents. They offer loans up to 75% of your cumulative fixed deposit amount and up to 60% of your non-cumulative fixed deposit amount.
You can also enjoy flexible repayment tenors with these loans. Repayment periods can range from 90 days up to the maturity date of your fixed deposit.
So, start investing in a Fixed Deposit with Bajaj Finserv today. FDs are one of the best investment schemes that people in India usually avail. These are preferred more than life insurance, mutual funds, and stocks as per a 2017 study by CRISIL.