Where to Find the Best FD Interest Rates - Bank, Post office or NBFCs?

When it comes to building wealth or augmenting one’s income, investing is the best bet. Experienced investors often have diversified portfolios. They invest in various asset classes, some of which may be low-risk-moderate-yield options, others high-risk with the potential for high yield. Ultimately, it boils down to risk appetite, and in most cases, risk and return are inversely proportional. However, financial tools like a fixed deposit are low risk and still promise reasonable returns.

Banks, non-banking financial companies, and the post office offer these instruments. Each has its own merits. Investors must choose the tool with the highest rate for maximum returns. Here, NBFC FDs may be the best option as they have higher FD rates, usually surpassing the competition. Read on to know more:

FD interest rates offered by financial institutions

Comparing FD interest rates from top financial institutions is the first step to maximising returns. Knowing where one can get the best rate and how it compares to the others can help one make a more informed and calculated decision. The FD interest rates in India rely on the RBI regulations. Repo rate cuts by the RBI brings down the interest rates offered by commercial banks. This, in turn, diminishes the receivable returns on maturity. However, Bajaj Finance, being an NBFC, is not directly controlled by the central bank. It remains relatively immune to the changes brought about by the cuts in policy rates. Hence, Bajaj Finance online FD is more rewarding compared to other FD plans offered by banks or even post offices. Bajaj Finance offers some of the highest FD rates in India. Citizens below 60 can get up to 6.80% on their deposits, and senior citizens can yield returns up to 7.05% irrespective of the investment mode.

Higher interest rates compared to other fixed deposit instruments

Aside from financial institutions, one can also invest in a Post Office Fixed Deposit. The Government of India’s Department of Posts offers this instrument and is another lucrative option to consider. Much like other fixed deposits, interest is compounded annually. Anyone can invest in these FDs, except NRIs. The FD interest rates here range from 5.50% to 6.70% across tenors of 1 to 5 years.

Based on the FD interest rates from some of the top offerings in the market, it is clear that the Bajaj Finance Fixed Deposit is a wise choice when one’s looking to maximise returns or even enjoy a comfortable investing experience. This instrument has several other benefits and features apart from the high FD rates, making it a worthwhile investment option.

Affordable minimum deposit amount

With the Bajaj Finance FD, one doesn’t have to save for months before investing. The minimum deposit amount is Rs. 25,000, allowing one to start their investment journey sooner.

An easily accessible instrument for all investors

Anyone can invest in a Bajaj Finance Fixed Deposit. Citizens above 18 years, Hindu Undivided Families (HUF), societies, partnership firms, group companies, sole proprietorships, clubs, associations, family trusts, and NRIs can all invest. Note that NRI investors must have an NRO account and be over 18 years old.

Flexible tenor options

With this fixed deposit, investors have the freedom to tailor their investments to suit their financial goals. Pick a tenor that ranges anywhere between 12 and 60 months, and enjoy attractive returns all through. The best part is that it is a viable option whether one has short-term or long-term goals to achieve.

On comparing FD interest rates and features, it is clear that Bajaj Finance online FD is the way to go. With the highest ICRA ‘FAAA’ and CRISIL ‘MAAA’ ratings, it is indeed a safe and secured option one can choose. What’s more, it has digital provisions such as an online paperless investing process and even accepts payments through net banking or UPI. Invest online and build wealth in just a few minutes.