The FD interest rates in India have witnessed a major dip after RBI announced two subsequent cuts in the repo rate this year. The first one was in March 2020 followed by another one in May 2020. Soon, banks followed the suit and lowered their FD rates. In such a scenario, you may be naturally concerned about FD interest income, especially if you are a senior citizen.

Well, here is some good news. You can still make your FD investment work by choosing the best FD interest rate available currently. Let’s tell you how.

• Invest in a Company FD 

While the banks and other fixed interest scheme providers may have lowered their interest rates, company FDs are offering lucrative returns. For instance, Bajaj Finance FD offers a high interest rate of up to 7.35%. Amidst the falling interest rates on bank FDs and uncertain market dynamics, Bajaj Finance FD makes a good investment decision. You can book the FD now and continue to avail the prevailing interest rate for the entire tenor.

• Compare the returns across all FD issuers

If you want to get a clear and detailed picture of interest income across interest rates offered by various FD issuers, you should use an online fixed deposit interest calculator for comparison. It automatically calculates the total interest payout, total maturity amount and maturity date within a few seconds. 

However, make sure to use a reliable FD calculator like that of Bajaj Finance for accurate results. A unique feature of Bajaj Finance FD calculator is that it also calculates returns for monthly, quarterly, half-yearly or yearly payouts.

• Check FD Issuer’s Credibility

High FD rates should always be backed by the safety of your investment. So, you should always research the credibility of the FD issuers along with the interest rates offered by them. 

Bajaj Finance is the only Indian NBFC that has earned ‘BBB’ international rating from S&P Global. Even top Indian credit rating agencies ICRA and CRISIL have accredited Bajaj Finance FD with the highest stability ratings. When you invest in Bajaj Finance FD, you get both high interest rate and security of funds.

• Invest in an Online FD

Bajaj Finance is offering an additional interest rate of 0.10% over and above the base interest rate if you book your FD online. All you need to is to fill an easy online application form on Bajaj Finance website. The entire online FD process is quick and hassle-free.

• Look for Value-Added Features

Bajaj Finance offers several other benefits on its FD to help you maximize the returns. For instance, laddering feature allows you to break your lump sum investment in multiple FDs with varying tenor and interest pay out frequency. It is a very useful feature when you need emergency cash. You can even consider availing Systematic Deposit Plan (SDP) if you want to make small monthly deposits in a disciplined manner. You can also apply for loan against FD up to 75% of the amount. This saves you from penalty interest that you would have paid if you withdraw FD prematurely.

If you are looking for the best FD interest rates in India this year, you should consider company FDs like Bajaj Finance. You can compare returns across Bajaj Finance and other FD issuers using an online fixed deposit interest calculator. This will give an evident idea about the high interest income from Bajaj Finance.

Apart from offering a high interest rate up to 7.35%, Bajaj Finance also comes with a safety net. It has the highest stability ratings from top credit rating agencies. If you book an online FD with Bajaj Finance, you can earn an additional interest rate of 0.10%. There are also various other value-added features you can avail. So, investment in Bajaj Finance FD is a sound financial decision.