It is the best time to invest in fixed deposit in India as it is more secure and not affected by market fluctuations. It is very important to include a fixed deposit in your investment plan portfolio as it makes a certain amount of your investment free of market risk.
Whenever you are investing in an FD you should know how to calculate FD interest rate by yourself this way you can understand better and choose the correct scheme for you through which you have a higher interest in and comfortably invest your money.
There are various reasons why you should invest in a fixed deposit account right now but more importantly, there are various schemes for higher interest rates and additional interest rate benefits (to select customer categories) which are being offered by Bajaj Finance FD and we will look into more. You can choose the right scheme for yourself to get a higher interest on your investment.
Choose cumulative returns
When you choose a low frequency of payment for your fixed deposit, you get higher returns. For instance, if you choose monthly interest payouts you will get the lowest amount of interest on your fixed deposit. And as you choose quarterly, half-yearly and yearly, the amount of interest paid increases respectively. Which is why it is always advisable to go for yearly payments on your fixed deposit account. If you’re investing in fixed deposit in India you will get an interest rate of up to 7.85% with a company like Bajaj Finance FD, when you choose yearly payments.
Invest for a longer duration
When you invest in a fixed deposit account the amount of interest that you get will also depend upon the time duration of your investment. If you will invest for a longer duration your interest rate will be higher. You can get up to 7.85% when you invest for more than 48 months with Bajaj Finance Senior Citizen Fixed Deposit.
Company’s Standing
It is very important for you to know the company is well-reputed and has a good history of high profitability. There are various companies which offer a fixed deposit in India, you have to choose which company has a good reputation and will give you a good return on your investment. Bajaj Finance FD is a good example as it has been awarded FAAA/Stable rating by CRISIL and MAAA/Stable rating by ICRA.
Invest with the same company
When you invest in a trusted company, you will always get an existing customer benefit. Existing customers are often given more interest rates than new customers. Try to avail these benefits and get higher returns on your investment. You can always go to the company’s website if you don’t know how to calculate FD interest upon auto-renewal of your FD investment.
Avail various other benefits
You can get various benefits on a fixed deposit in India. A senior citizen is likely to get higher interest. Children till the age of 14 years can avail various schemes to receive a higher interest rate. Bajaj Finance FD offers higher rates for senior citizens, which are 0.25% higher than regular FD interest rates.
Conclusion
While investing in a fixed deposit in India, get a higher interest return on your investment in a fixed deposit by choosing the right scheme for you. You can always choose the perfect scheme for you even if you don’t know how to calculate FD interest rate by using the online FD calculator. You can choose a lower frequency of payouts in your investment plan for your fixed deposit to maximize your return on investment. And also in your investment plan choose a longer duration of investment of up to 5 years to get a higher return on investment. There are various schemes and benefits are offered by the company, avail these benefits to get a higher interest. Senior citizens, NRIs, and children get higher interest rates. And also, invest with the same company again and use auto-renewal feature to get a higher return on investment.
Author Bio:
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.
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