In India, more and more people are now moving towards investment options. People nowadays are investing in mutual funds, stocks, gold, real estate, and fixed deposits (FDs). Fixed deposits have become a popular way of investing money. A fixed deposit is an instrument through which people can grow a lump sum over a fixed tenure at a fixed interest rate. The interest rates vary from one bank to another. In simple words, FDs give you an interest rate for keeping the money safe inside the locker. Now, Bajaj Finance has launched new digital fixed deposits, and the investors will get around 8.85 per cent interest on them.
According to reports, the company will offer interest up to 8.85 per cent per annum to senior citizens on FDs for a period of 42 months if they pay through the Bajaj Finserv app and website. People under the age of 60 will receive an interest rate of up to 8.60 for investing their money in digital FDs. This scheme has been effective since January 2, 2023.
Sachin Sikka, who is the Head of Fixed Deposits and Investments at Bajaj Finance, said, “Our FD offering now enables depositors to think digitally. In this, the facility of higher interest is available, especially on FD, through the Bajaj Finserv App and Web.”
According to the FD calculator on Bajaj Finserv’s website, if someone invests Rs 1 lakh, the rate of interest will be 8.60 per cent per annum for 42 months. After this, they will get Rs. 1,30,100. This will include an interest of Rs 30,100. Senior citizens (above 60 years of age) will get Rs 1,30,975 on maturity at a rate of 8.85 per cent.
Comments
0 comment