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highest fd interest rates
  • Get The Best Fixed Deposit Interest Rates in 2021

  • Published By:
  • Category: Finance
  • Published Date: July 31, 2021
  • Modified Date: July 31, 2021
  • Reading Time: 4 Minutes

Featured Image Caption: Highest FD Interest Rates

Ease of investment, clarity of returns, and a safe way to earn high interest are some of the main reasons due to which investors turn towards fixed deposits. To earn sufficient interest, you must compare the FD rates across the banks and finance companies and choose an FD provider who provides the highest FD interest rates.

However, as bank FD rates have been reduced after the repo rate cuts reinforced by RBI, you must also check the FD interest rate offered by various corporate FDs. For example, Bajaj Finance FD lets you earn interest at up to a 6.75% FD rate from your deposits. This FD rate is high enough to provide you considerable FD returns in India. To compare the Bajaj Finance FD returns with bank FDs and post office FDs, let’s see an example.

Suppose that you are planning to deposit Rs. 40,00,000 in a 3-year FD. The below table shows the interest income and returns provided by bank FDs, post office FD, and Bajaj Finance FD after 3 years:

FD PlanAmountTenor (Years)Interest RateInterest IncomeFD Returns
Bank FDsRs.
40,00,000
35%Rs.
6,43,018
Rs.
46,43,018
Post Office FDRs.
40,00,000
35.5%Rs.
7,12,273
Rs.
47,12,273
Bajaj Finance FDRs.
40,00,000
36.75%Rs.
8,65,905
Rs.
48,65,905

You can see that Bajaj Finance FD is a clear winner when it comes to the highest interest income and returns. The other features and benefits of investing in this fixed deposit scheme are explained below:

A backup for an unprecedented crisis

In the recent past, you might have witnessed the uncertain and unprecedented economic and health conditions that might affect your finances. The need for a backup plan to prepare yourself for emergencies is the need of the hour.

Bajaj Finance FD gives you the option of availing of a loan against your deposits to help you in crisis. This also keeps your investment safe and you may also withdraw your deposits if you want once they complete 3 months of the lock-in period.

A safe avenue

FDs are one of the safest avenues when it comes to investing your savings. While growth is important, you should also ensure whether your savings are parked securely or not.

Bajaj Finance FD proves to be a safe vehicle for growing your investment and it also has the highest credibility ratings by credit rating agencies such as ICRA and CRISIL. Therefore, your money is safe in this FD scheme.

Opportunity to earn higher FD rate

Bajaj Finance FD allows you to grow your investment at a 0.10% higher FD rate if you invest in one of their FD plans through an online FD form. Senior citizens also get a 0.25% higher FD rate than others which allows them to earn the highest FD returns in India.

You can also benefit from the varying FD tenor that ranges from 12 to 60 months and the option of interest payout either at maturity or regular intervals after every month, year, quarter, or six months make Bajaj Finance FD beneficial than other FD schemes.

Fixed deposits provide a clear idea of the returns and are also considered to be safe. However, to earn sufficiently from FDs, you must compare FD rates across banks and NBFCs. Since bank FDs are already low, you can think of investing in a corporate FD like Bajaj Finance FD. It not only offers one of the highest FD interest rates in India that can go up to 6.75% but you also get a flexible tenor ranging from 12 to 60 months.

Moreover, it is a safe investment avenue and also provides a higher FD rate to online investors and individuals above the age of 60. The option of withdrawing deposits early without any hurdles and the opportunity to avail of a loan against your deposits allow you to use it as a backup plan to tackle your financial emergencies.

Gaurav Khanna

By Gaurav Khanna
who is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends.

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