Business EconomyPosted at: Jun 1 2020 8:25PM

PUNE, India, June 1, 2020 /PRNewswire/ -- Reserve Bank of India (RBI) Governor Shaktikanta Das announced a 40-basis point cut in repo rates and reverse repo rates, in his third address to the media on May 21, 2020. The repo rate has hence come down to 4% from the former 4.4% and reverse repo rate now stands at 3.35% from the previous 3.75%. The latest announcement comes as another measure to boost the economy, after a series of repo rate cuts this year.
However, this increased liquidity can add a downward pressure on banks and financiers, to bring down the interest rates for fixed deposit. In such a scenario, an instrument like Bajaj Finance Fixed Deposit makes for a smart investment, as it offers high returns and guaranteed payouts.
Here's how Fixed Deposit, offered by Bajaj Finance Ltd., the lending and investment arm of Bajaj Finserv, helps its investors to grow their savings-
Guaranteed returns up to 7.85%
In today's economic scenario, market-linked investment products have a volatile performance, which makes it risky to invest in such instruments. However, Bajaj Finance FD is still offering one of the highest fixed deposit interest rates of 7.60% for new customers, which can go up to 7.70% for existing customers.
This deposit works best for senior citizens, who get a 0.25% rate boost with FD rates of up to 7.85%. The effect of compounding makes savings grow more, when invested for a longer tenure. Thus, investors choosing to invest for 5 years in a Bajaj Finance FD can grow their savings by more than 40%. To understand this better, here's an example where an investor deposits Rs. 50,00,000 in a Bajaj Finance Fixed Deposit. Take a look at how the interest varies for different customer types:
These returns can also be calculated by using Bajaj Finance FD Interest Rates Calculator, which helps determine returns, even before investing.
Highest safety ratings
Bajaj Finance has safety ratings of FAAA by CRISIL and MAAA by ICRA, which are the highest in their respective categories. Thus, investors can be assured of timely payments and default-free experience.
Additionally, Bajaj Finance offers convenient online FD facility for existing customers, who can enjoy an end-to-end paperless journey to invest from the comfort of their homes.
The frequent repo rate cuts mean that there's no time like now to bag a high interest rate. Even after the recent repo rate cuts, some experts foresee that another cut may not be unprecedented. Typically, FD rates also drop when the RBI's lending rate drops. So, delay no further and make a smart investment choice with Bajaj Finance FD.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Lifecare Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international 'BBB' with stable outlook for long-term, by S&P Global Rating.
(Disclaimer--Features may vary depending on the regions; subject to change without notice.)
To know more, please visit: https://www.bajajfinserv.in

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