Amidst slumping FD interest rates leading to lower returns, Bajaj Finance Fixed Deposit has emerged as a preferred investment option especially for the sandwich gen. Having to juggle responsibilities of the care of their elderly parents and children, many a time, they often find themselves unable to secure their own future financially. Therefore, to help you ride through your retirement years smoothly, we are here with the best FD investment options in India.
Bajaj Finance Online FD
Investing in Bajaj Finance Online FD is not only a lucrative option but a convenient one at that. By investing online via the Bajaj Finserv website, one can acquire an extra 0.10 per cent interest rate in addition to the assured rate of up to 7 per cent for non-elderly people. For the elderlies, Bajaj offers around 7.25 per cent interest rate regardless of the mode of investment. Moreover, with a high safety rating of FAAA by CRISIL and MAAA by ICRA, Bajaj Finance Online FD is also a safe investment option.
KTDFC Fixed Deposit
With an interest rate ranging from around 5.7% p.a to 6% p.a, Kerala Transport Development Finance Corporation Limited (KTDFC) provides term deposits and fixed deposits for maturity periods from one to five years. Under this scheme, senior citizens get an additional 0.25 per cent interest rate.
Lakshmi Vilas Bank Fixed Deposit
Under corporate and private banking, Lakshmi Vilas Bank offers an FD scheme with attractive interest rates and a wide range of tenure options (from 7 days to 15 years). For a maturity period of 400 days, it offers an interest rate as high as 6.75% p.a. For the general public, the interest rate ranges from 4% p.a. to 6.75% p.a. whereas for senior citizens, the highest interest rate is 7.25% p.a.
As lucrative as any scheme may seem, as investors, it is crucial that you have an in-depth knowledge on what you are signing up for, before proceeding with your investment. While a lot of banks and NBFCs offer online investment options, inquiring in-person can help you clarify your doubts better and make a more sound decision.
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