Fixed deposit (FD) is one of the most popular investment options among Indians who are looking to invest their savings in a safe and secure manner. With the recent pandemic, people have started looking for safer investment options that offer guaranteed returns on their investments. Bajaj Finance, one of India’s leading non-banking financial companies (NBFCs), is known for providing a comprehensive range of financial products and services to its customers. Bajaj Finance has recently increased its interest rates on fixed deposits, making it one of the most customer-centric NBFCs in the market.
Let us take a closer look at Bajaj Finance’s customer-centric approach to fixed deposit services.
Increased Interest Rates on FDs
Bajaj Finance has recently increased the interest rates on fixed deposits, making it one of the most lucrative investment options available in the market. The company is offering up to 8.85% p.a. ROI on booking FD for up to 42 months tenure, which is the highest interest rate offered by any NBFC in the market.
The increased interest rates on Bajaj Finance’s FDs are good news for investors who are looking to earn higher returns on their investments. The company has always been known for offering attractive interest rates on its fixed deposits, making it an attractive investment option for customers. With the recent increase in interest rates, Bajaj Finance has become one of the most customer-centric NBFCs in the market.
Book FD Online
Bajaj Finance offers a seamless online process for booking fixed deposits. Customers can easily open fixed deposits online by visiting the Bajaj Finance website or using the Bajaj Finance app. The online process is hassle-free and customer-centric, enabling customers to book FDs within minutes.
Customers can choose from a wide range of fixed deposit options with flexible tenures ranging from 12 months to 60 months. The online process is customer-centric, and customers can easily check the FD calculator to know the exact returns they will receive on their investments.
FD Calculator
Bajaj Finance has a comprehensive online FD calculator that enables customers to calculate their returns on fixed deposits. Customers can input their investment amount, tenure, and interest rate, and the calculator will give them an estimate of the returns they will receive on maturity. This customer-centric approach ensures that customers have complete transparency and clarity on their investment returns.
Investment Apps
Bajaj Finance has a range of investment apps that enable customers to monitor their fixed deposits and other investments. Customers can download the Bajaj Finance app, which provides a real-time view of their investments, enabling them to track their investments and make informed investment decisions. This customer-centric approach ensures that customers have complete control over their investment portfolios.
Comparative Analysis of FD Rates of Other Organizations
Apart from Bajaj Finance, several other banks and NBFCs offer fixed deposits to investors. Here’s a comparative analysis of the FD rates offered by some of the leading banks and NBFCs in India:
HDFC Bank: HDFC Bank is one of the leading banks in India that offers fixed deposits to its customers. The bank offers FDs for a tenure ranging from 7 days to 10 years and offers interest rates ranging from 3.50% to 6.50% per annum. The interest rates offered by HDFC Bank on fixed deposits are average compared to other banks in the market.
ICICI Bank: ICICI Bank is another leading bank in India that offers fixed deposits to its customers. The bank offers FDs for a tenure ranging from 7 days to 10 years and offers interest rates ranging from 3.50% to 6.70% per annum. The interest rates offered by ICICI Bank on fixed deposits are slightly higher than HDFC Bank but are still average compared to other banks in the market.
Axis Bank: Axis Bank is one of the leading banks in India that offers fixed deposits to its customers. The bank offers FDs for a tenure ranging from 7 days to 10 years and offers interest rates ranging from 3.50% to 6.75% per annum. The interest rates offered by Axis Bank on fixed deposits are slightly higher than ICICI Bank but are still average compared to other banks in the market.
Kotak Mahindra Bank: Kotak Mahindra Bank is one of the leading banks in India that offers fixed deposits to its customers. The bank offers FDs for a tenure ranging from 7 days to 10 years and offers interest rates ranging from 3.50% to 6.50% per annum. The interest rates offered by Kotak Mahindra Bank on fixed deposits are similar to HDFC Bank and are average compared to other banks in the market.
From the above comparative analysis, we can see that the interest rates offered by Bajaj Finance on fixed deposits are the highest in the market, making it an attractive investment option for investors who are looking to maximize their returns.
Mutual Fund Vs FD: Which is better?
While fixed deposits are a safe and secure investment option, mutual funds can offer higher returns over the long term. Mutual funds invest in a diversified portfolio of stocks and bonds, making them a high-risk-high-reward investment option. Mutual funds can generate higher returns than fixed deposits, but they are subject to market risks and volatility. Investors who are comfortable with taking risks and have a long-term investment horizon can invest in mutual funds to maximize their returns.
On the other hand, fixed deposits are a low-risk investment option that offers guaranteed returns on the invested amount. Fixed deposits are ideal for investors who are risk-averse and prefer steady returns over high-risk investments.
In conclusion, Bajaj Finance’s customer-centric approach to fixed deposit services has made it one of the most attractive NBFCs in the market. The company’s focus on providing attractive interest rates, seamless online processes, and investment apps, along with a comprehensive FD calculator, ensures that customers have the best possible investment experience. With the recent increase in interest rates, Bajaj Finance’s FDs have become even more customer-centric, making it one of the most preferred investment options among Indian investors.
