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Advantages of investing in Fixed Deposits in 2021

News18 logo News18 01-07-2021 News18
graphical user interface: Advantages of investing in Fixed Deposits in 2021 © Provided by News18 Advantages of investing in Fixed Deposits in 2021

With the Covid-19 induced uncertainty all around, the last 18 months have played a significant role in creating awareness about financial planning.  While many age-old lessons of saving and investing have been brought back in focus over this period, many new lessons have also been drawn from the uncertainty that many people faced with job losses and salary cuts due to an unprecedented health and economic crisis. The year 2021 has once again highlighted the importance of investing wisely. People now realize that while money is important, wealth is even more so. You cannot just assume that your income will secure your future.

Yes, your income is crucial, but how you use that income, and invest a part of it, makes a huge difference between financial security and an uncertain future. Many individuals and families had to go through major financial problems over the last year-and-a-half.  To deal with such crises, it is imperative to prepare in advance and have some sort of financial backup. And this is true for any uncertainty that one may encounter in their lives. Such circumstances arise whenever a country goes through an economic crisis. There could also be specific individual and family crises to be prepared for. By saving for rainy days, you can make sure that you have a financial cushion to deal with them.

A back-up plan for uncertain times To prepare for such unanticipated events, the best option is to save some money regularly and invest it so that it grows over time. There are various investment options available in the market that one can choose from. However, each individual has their own preferences regarding savings and investments. Moreover, the risk profile for each individual is different, which depends on their personal income, how much they can afford to save, the amount of risk they can take and the purpose of investment.

Among all the available options, investing in fixed deposits is one of the safest avenues. It is for this very reason that fixed deposits are among the most trusted investment vehicles and the most popular choice among Indians. Because they offer a fixed rate of interest at the time of maturity irrespective of market conditions and the performance of the economy, there is almost negligible risk involved.

With uncertainty all around us, this guaranteed return on your investment can bring some level of certainty to your financial plans. Even if you invest in other investment products, which could be volatile, you can use fixed deposits to diversify your portfolio. This not only makes your investments more stable, but also brings the much-needed liquidity in your portfolio as fixed deposits are among the most liquid assets available in the market. What that essentially means is that the funds invested in fixed deposits can be quickly available if you find yourself in an urgent need of cash. Not just that, you can also avail a loan against your fixed deposit, if needed, to pay for any unforeseen expenditure.

Who offers the best FD rates? While there are many options for opening a fixed deposit, the rate of interest available from most banks is quite low at present due to the heightened liquidity and slew of repo rate cuts by the Reserve Bank of India in the last couple of years. However, there is no need for you to compromise on the rate of return as you can get an attractive interest rate of up to 6.75 per cent per annum by investing in Bajaj Finance Fixed Deposits through Finserv MARKETS.

While the high interest rate is attractive, other features like varying tenure of investment from 12 months to 60 months as well as multiple interest payout options – at maturity, or at periodic intervals – also make the Bajaj Finance Fixed Deposits stand apart.

Bajaj Finance FDs help you to achieve your financial goals as you can easily invest online anytime from anywhere. You can also get an additional 0.10 per cent on the interest rate when you invest online. For senior citizens, Bajaj Finance FDs offer 0.25 per cent higher interest rate than the regular FDs.

The best thing about opening an FD is the certainty of the payout as well as the payout time. You can use the online FD calculator available at Finserv MARKETS to determine the interest amount that you can earn upon maturity of your Bajaj Finance Fixed Deposit, depending on the duration of the investment that you choose.

How to open Bajaj Finance Fixed Deposit With an extremely fast online process, you need not worry about visiting any branch or undergoing a lengthy documentation process, especially with the Coronavirus pandemic still around. With Finserv MARKETS, you can apply for a Bajaj Finance FD, submit documents and keep track of your fixed deposit account online in a seamless and hassle-free manner.

You can start your investment by just following simple and easy steps.

Step 1. Visit Finserv MARKETSVisit Finserv MARKETS website, or download the Finserv MARKETS App

Step 2. Fill the application with detailsFill in all your personal and beneficiary details by selecting the FD amount, tenure and plan.

Step 3. Upload the necessary documentsUpload all the necessary documents required for opening a Bajaj Finance FD account.

Step 4. Deposit FD amountAfter completing the form and documentation process, pay the FD amount and complete your Bajaj Finance Fixed Deposit online application process.

Step 5: 24×7 TrackingOnce done with all the steps, you can easily track your Bajaj Finance FD returns.

It is crucial to create a corpus through secure investments and high returns, not just for emergencies but also to meet your short- and long-term financial goals. Finserv MARKETS and secure investments go hand in hand. Moreover, when you invest in Bajaj Finance FDs, irrespective of market fluctuations, you can rest assured that your returns will not be affected. Don’t delay any further, book your Bajaj Finance FD through Finserv MARKETS, today!

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