Bajaj Markets partners with Ujjivan Small Finance Bank in alliance, a division of Bajaj Finserv, to supply the bank’s fixed deposits (FDs). With this option, people can earn income as high as 8.25%, plus an extra 0.50% interest reserved for older persons.
To what extent are you able to invest?
There are several appealing benefits to using Bajaj Markets for Ujjivan Small Finance Bank Fixed Deposits. Since investors can begin with as low as ₹1,000, a wide range of people can participate. It is also a very flexible investment because you may choose between quarterly payments and maturity distributions. It also permits FD investments without necessitating the opening of a savings account. Customers can customize their investments to meet specific financial objectives thanks to the wide range of tenor options available.
Integrated tax advantages
High interest rates can help the elderly, and investors who are worried about taxes might look into the benefits of tax-saving fixed deposits. Bajaj Markets strives to streamline the process by offering a quick application process requiring little paperwork. This includes providing a fixed deposit calculator for easy planning and scheme comparisons, as well as instantaneous online booking capabilities.
FD investing may be beneficial for people looking for a hassle-free, safe way to increase their wealth. In addition to offering FDs from other well-known banks and NBFCs, the site offers a range of investment choices to help users reach their goals for financial wellness.
Many banks are gradually increasing the rates on their fixed deposits in reaction to the spike in loan demand at the end of the year. The aim is to improve the attractiveness of deposit rates, especially in light of the Reserve Bank of India’s (RBI) increased requirement for unsecured loan provisioning. Banks are better able to manage their assets and liabilities thanks to this strategic shift.
Although there may be a number of reasons for this rate increase, it is expected that other banks will probably do the same very soon. Even though fixed deposit rates are gradually rising, conservative investors might consider that now is a good time to put part of their money into these kinds of accounts.
Choosing the duration of an investment
Because many banks offer their most favorable rates during this time, investors may want to think about locking in their funds at the present high rates, especially if they plan to do so for one to two years. Longer tenures offer higher returns, but before committing to longer investment durations, investors should carefully examine liquidity implications.
