The Monetary Policy Committee, constituted by the Reserve Bank of India and led by Shaktikanta Das, RBI Governor, decided to keep repo rates unchanged at 4% on April 7, 2021. This is the fifth consecutive time the RBI kept lending rates unchanged, in line with market expectations.
A series of measures to infuse liquidity in the government securities market and the financial system were also announced by the central bank, while maintaining an ‘accommodative stance‘.
Owing to reduced repo rates and lack of liquidity in the market, banks and non-banking financial companies reduced their lending and fixed deposit rates.
Smart savings for investors
For investors looking to grow their savings, it is best to lock into attractive FD rates offered by reliable financiers. This might be an optimum time to go ahead and invest in a Bajaj Finance online FD that offers attractive FD interest rates up to 7.25%.
By investing in a Bajaj Finance FD, here are the benefits one can reap:
Attractive FD interest rates
Currently, banks and NBFCs are offering FD rates in the range of 4%. One can get the best FD interest rates by investing in a Bajaj Finance FD. Non-senior citizens can reap the benefits of interest rates up to 7% by investing in this FD, via offline mediums. On the other hand, non-senior citizens investing in an online FD can get returns up to 7.10% by investing in this FD. For senior citizens, these FD interest rates go up to 7.25%, so there is a greater growth of savings.
Highest safety of deposit
In addition to high interest rates, one can also look to safeguard their savings with the assurance of highest safety. Bajaj Finance FD is accredited with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA, which indicates that one’s deposit is in safe hands. This also indicates lowest risk of defaults or delays.
Highest convenience and flexibility
Bajaj Finance offers an end-to-end online paperless process that enables investors to invest from the comfort of their home. One can also look for an easy FD interest calculator and choose from flexible tenors and payouts options, to make one’s savings grow easily.
The current market scenario warrants the need to choose fixed-income instruments that safeguard one’s savings. One can also benefit from laddering deposits, to avoid liquidity crisis by depositing all funds in a single deposit. However, in case of need for urgent cash, one can avail a Loan against FD to cater to emergencies.
This content comes to you under an arrangement with NewsVoir. Source