If you want guaranteed income after a certain period by investing your accumulated capital, then Fixed Deposit (FD) can be a good option for you. During the last 9 months, RBI has increased the repo rate at frequent intervals to control inflation.
After this increase, apart from big government and private banks, most of the non-banking finance companies (NBFCs) have also increased their FD rates.
If you also want to invest your money in FD, then Bajaj Finance Ltd has brought a great opportunity for you. Bajaj Finance has increased its FD rates for a time period of 44 months. General customers of Bajaj Finance will now get 7.85% interest on 44-month FDs and 8.1% for senior citizen customers. The increased new interest rates are applicable from January 20.
There may be an increase in FD rates in the future, while still many experts believe that this increase in FD rates is going to continue further. The major reason for this is to increase the report by RBI at frequent intervals to control the rising inflation. Bajaj Finance offers FDs to its customers for 15 months, 18 months, 22 months, 30 months, 39 months and 44 months.
Getting 7.7% interest here
Bajaj Finance, on the other hand, will give 7.4% interest to its senior citizen customers on cumulative FDs of 12 to 14 months. While Bajaj Finance will give 7.55% interest to its customers on 15-month special FD and 7.7% on 22-month special FD. Apart from this, you can also invest in FDs from 12 months to 60 months with Bajaj Finance.