Bajaj Finance Offers Best Interest Rate on FD for Senior Citizen
Senior citizens no longer need to rely on their children when they embrace their retirement years. The days of being dependent upon children are long gone as the majority of the senior citizens are living an independent life when it comes to financial requirements. Much of this can be accredited to their wise investment choices and financial awareness. However, with increasing inflation, healthcare expenses and longer lifespan, there is an increasing need for proper investment and planning. Planning and execution are two important steps for a senior citizen as he/she cannot bear too much risk by putting everything on the line. Even while investing, it is important that they earn income which can help them to survive with financial independence.
For this, it is essential to have a financial plan that can help with a steady flow of income. For senior citizens looking for safe retirement investment option, there is not a better solution than investing in FD (Fixed Deposit) . A fixed deposit investment is a risk-free avenue wherein an investor can earn a decent amount of money without having to risk it. NBFCs such as Bajaj Finance are providing the best senior citizen scheme on fixed deposit. They are offering a higher rate of interest as compared to the other lending institutions. The best part about the deal they are providing is that even though they have a much higher interest rate on investment, they are still offering an additional 0.25% to senior citizens above the age of 60 years.
How is Bajaj Finance Providing Me with the Best Interest Rate on FD?
If you take a look at the current investment market, the returns are quite low. Especially with fixed deposit, the financial institutions are offering an interest rate of up to 5-6%. Such an interest rate is not good enough to beat off the inflation.
With Bajaj Finance, you get an interest rate of 7.85% when you invest in a fixed deposit. Furthermore, you also get a 0.25% additional interest rate if you are a senior citizen. This makes it an attractive interest rate of 8.10%. The percentage is 2-2.5% higher than what all the traditional banks are offering. Thus, Bajaj Finance is making a fixed deposit investment which is lucrative for senior citizens even though the investment avenue is quite slow as of now.
Why Senior Citizen Fixed Deposit from Bajaj Finance is the Best Option?
Usually, Senior Citizens tend to lean towards the savings account as they are looking for utmost safety. Even as a senior citizen, you cannot earn an interest rate of over 4% on the savings account. However, with fixed deposit, you can earn an interest of 8.10% viz., twice as much as a savings account. Thus, why settle for 4% when you can get 8%.
Why Should you Trust Bajaj Finance over Traditional Lenders?
There is a myth that every NBFC is unreliable. However, that is not true. NBFCs such as Bajaj Finance has the highest credit rating of FAAA/Stable & MAAA for fixed deposit investment. Thus, they are one of the safest financial institutions in the market.
The interest rate offered by Bajaj Finance is not the only thing that you must consider but all the other benefits as well. The flexible tenure, FD (Fixed Deposit) Calculator, and online access are just a few of the many benefits that come with Bajaj Finance FD for a senior citizen.