Highest FD interest rates, Best Fixed Deposit Schemes in India

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Individuals seeking to build a lump sum corpus for their long-term goals like children’s education, marriage, etc or planning for their golden years may find themselves in a soup now. Marred by low-interest rates and high market volatilities, the current economic conditions make it quite challenging for anyone to find the right investment avenues. Lets see the best fixed deposit scheme in India with highest interest rates and highest returns.

Besides, keeping your short-term investments liquid may be essential as the current economic downturn coupled with high inflationary pressures may create a liquidity crunch in the near-term. Amidst such tough circumstances, you require an investment avenue that gives stable returns as well as has good wealth generation potential in the long-run. One such investment option is Bajaj Finance FD. Backed by the credibility and market reputation of Bajaj Finance Limited, Bajaj Finance FD not only offers higher interest rates than traditional bank FDs, but also is not subject to market fluctuations like stock market investments.

Highest Interest Rates FD Schemes from Bajaj Finance FD

Some highest FD interest rate schemes from Bajaj Finance are listed in the consecutive paragraphs.

Cumulative FD Schemes

Bajaj Finance cumulative FD schemes are offered for investment durations between 12-60 months. You just need a minimum deposit amount of Rs 25,000 in your kitty to open a Bajaj Finance cumulative FD. Moreover, you will get a minimum interest rate of 6.15% p.a. It will go up to 6.75% p.a, if your investment tenor exceeds 36 months. In addition, non-senior online investors and senior citizens will get additional returns of 0.10% p.a and 0.25% p.a respectively.

Highest FD Interest Rates in India-Best Fixed Deposit Schemes in India-Wikipedia of Finance

You may check the below table for highest FD interest rate cumulative FD schemes from Bajaj Finance for different investor categories.

Cumulative FD tenorNon-senior offline investors (Age < 60)Non-senior online investors (Age < 60)Non-senior offline investors (Age > 60)
12 – 23 months6.156.256.4
24 – 35 months6.66.76.85
36 – 60 months77.17.25

Non-Cumulative FD Schemes

Bajaj Finance offers non-cumulative FD schemes with monthly, quarterly, half-yearly, and annual interest payout options. Like cumulative FDs, non-cumulative FDs too can be opened with a minimum principal amount of Rs 25,000 and any FD tenor between 12-60 months.


Your FD rate will vary based on your age, investment mode, interest payout option, and FD duration. You may check the table below for more details on the highest FD interest rate non-cumulative FDs from Bajaj Finance.

Non-cumulative FD tenorInvestor categoryMonthlyQuarterlyHalf-yearlyYearly
12 – 23 monthsNon-senior offline investors5.986.016.066.15
24 – 35 monthsNon-senior offline investors6.416.446.496.6
36 – 60 monthsNon-senior offline investors6.796.826.887

***Please note*** Non-senior online investors will get 0.10% extra and senior citizens will get 0.25% extra on all FD tenors and interest payout options.

Systematic Deposit Plans(SDP)

An SDP is a unique blend of a traditional FD, recurring deposit and mutual fund systematic investment plan. Under the Bajaj Finance SDP scheme, you need to invest a minimum amount of Rs 5000 every month. You can choose any tenor between 12-60 months for your monthly deposits. The interest rate applicable to each of your monthly deposits will be the prevailing interest rate on the date of investment.

Bajaj Finance offers two variations of the SDP. Under the monthly maturity scheme, each of your monthly deposits will have varying maturity dates. On the other hand, under the single maturity scheme, all your monthly deposits will mature on the same date. This scheme is ideal for building a lump sum retirement corpus.

SDP and FD Interest Rate Calculators

Computation of interest and maturity amounts of FDs and SDPs may seem complex. But, Bajaj Finance provides you with the FD interest rate calculator on its website which instantly calculates your interest and maturity amounts. You just need to plug in your investor category, investment duration, and principal amount. The FD interest rate calculator will display your interest and maturity amount within seconds.

High Interest Rate Should Give Maximization of Returns

A good FD investment is one which allows you to grow your money over and above the high interest rate. If you invest in Bajaj Finance FD, it allows you to ladder your investment. Instead of putting all your money in a single FD, you can divide them into multiple FDs. Each of these multiple FDs will have different interest payment frequency and tenor. So, when you need to withdraw money in case of the liquidity crisis, you have to break only one FD and let the other ones remain invested.

If you chose to renew the FD after maturity period, Bajaj Finance rewards your re-investment with 0.10% additional interest rate.


Bajaj Finance FD also doesn’t levy any restriction on premature withdrawal. Unlike in a tax saving FD where your money is locked for five years, Bajaj Finance FD allows you to break your FD before tenor at a small penalty amount. So, your liquidity is not compromised at the cost of the highest FD rates.

Bajaj Finance FD is a sound investment option if you want high interest rate, safety and maximization of returns in a single fixed-income instrument. It offers up to 6.75% interest rate, one of the highest FD rates in 2020 when banks have lowered their interest rates and the market is vulnerable to instability. Bajaj Finance FD has also been accredited with the highest safety ratings by India’s top credit rating agencies. If you are looking to maximize the returns on your FD, you can consider laddering and auto-renewal options with Bajaj Finance. In a nutshell, a company FD such as Bajaj Finance FD is a rewarding investment choice for 2020. You can also use a fixed deposit calculator to predict your earnings before booking an FD. It also eliminates the need for manual calculation that is prone to errors.

To grow your savings at a high rate, you can invest in Bajaj Finance FDs that are providing an interest rate of up to 6.50% and 6.75% for senior citizens and regular investors respectively. These are one of the highest FD rates in 2020. These fixed deposit plans are safe as they are credited highly for their safety and stability by CRISIL and ICRA. Moreover, you can also access their multi-deposit facility to ladder your investments or you can invest in an SDP to earn more through the prevailing interest rates.

Conclusion

Bajaj Finance FD is an attractive investment option. The senior citizen FD rate offered by Bajaj Finance is one of the best in the country. High credit ratings, minimum lock-in period of just 3 months, tax rebates up to Rs 5000 per year, and a wide range of other benefits make the highest FD interest rate schemes from Bajaj Finance good investment avenues.

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