NewsVoirPune (Maharashtra) [India], June 6: The repo rate has been increased by a total of 100 basis points (bps) in 2023. The Reserve Bank of India (RBI) increased the repo rate by 25 bps in February, followed by another 50 bps in April and 25 bps in May. The repo rate is now at 6.50 per cent.
This increase in the repo rate has led to an increase inHere are a few tips for how investors can make the most of Bajaj Finance fixed deposits when rates are high:1. Choose the investment amount: Basis your financial goal, choose the investment amount and the right investment amount. You can start investing in Bajaj Finance Fixed Deposit with a minimum amount of Rs 15,000 up to Rs 5 crore.
2. Consider different maturities: Fixed deposits come with different maturities, so you can choose one that fits your needs. If you need access to your money in the short term, you might want to choose a shorter-term deposit. If you are looking for a longer-term investment, you might want to choose a longer-term deposit. Bajaj Finance offers fixed deposits with maturities ranging from 12 months to 60 months, so you can find a term that meets your needs.
The FD rates for senior citizens, for different tenures are mentioned below:3. Choose special tenures: Bajaj Finance offers higher interest rates on fixed deposits with special tenures of 15, 18, 22, 30, 33, and 44 months. This means that investors who choose these tenures will earn more interest on their investment than those who choose a different tenure. Senior citizens: Senior citizens get an additional rate benefit of up to 0.25 per cent p.a. on the base rate.
4. Use the FD calculator: An FD calculator can help you estimate how much interest you will earn on your investment, based on the amount you invest, the interest rate, and the term of the FD. This can help you decide how much money you need to invest to reach your financial goals. It can also be used to compare different FD options from different banks and financial institutions.
By following these tips, you can make the most of Bajaj Finance fixed deposits when rates are high. Fixed deposits are a great way to grow your money safely and securely.
If you do not want to invest a large amount of money upfront in a fixed deposit (FD), you can opt for aBajaj Finance fixed deposits are a safe and secure way to grow your money. When interest rates are high, Bajaj Finance fixed deposits can offer a great return on investment. By following the tips in this article, you can make the most of Bajaj Finance fixed deposits and reach your financial goals.
(Disclaimer: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)