For investors who want to earn assured returns, without taking a risk on their investment, Fixed Deposit (FD) is an ideal investment option. Fixed Deposit brings you consistent interest rates, without exposing your investment to market-related risks, also giving you income tax deductions on your earnings.
The returns you can earn on FD are variable, depending on the amount you invest, the tenor of your investment, type of payout (cumulative/ non-cumulative), and your age (non-senior/ senior citizen).
Let’s have a look at how much you can earn if you invest Rs. 1 crore in an FD with Bajaj Finance.
Monthly income per month on a 1 crore FD with Bajaj Finance
If you invest 1 crore in fixed deposit, your income per month will depend on the type of FD you choose- cumulative or non-cumulative. Let’s look at the expected monthly earnings from both these types of FDs with Bajaj Finance:
Bajaj Finance Non-Cumulative Fixed Deposits - Rs. 1 crore FD interest per month
Considering:
Investment Rs. 1 crore for 36 months tenure
|
Investor Category |
Applicable Interest Rate |
Total Interest Payout on monthly interest option |
Scenario 1 |
Non-senior citizen investing offline/ online |
up to 7.81% p.a. |
Rs. 23,43,000 |
Scenario 2 |
Senior citizen investing online/ offline |
up to 8.05% p.a. |
Rs. 24,15,000 |
This is the calculation for 1 crore interest per month on Bajaj Finance Non-cumulative FD. Refer to the next table for Cumulative Fixed Deposit interest calculation.
Bajaj Finance Cumulative Fixed Deposit:
Considering:
Investment Rs. 1 crore for 36 months tenure
|
Investor Category |
Applicable Interest Rate |
Total Interest Payout |
Scenario 1 |
Non-senior citizen investing offline/ online |
up to 8.10% p.a. |
Rs. 26,32,144 |
Scenario 2 |
Senior citizen investing online/ offline |
up to 8.35% p.a. |
Rs. 27,19,989 |
You can earn more from a 1 crore FD interest if you opt for a cumulative FD. This is because cumulative FD offers you the benefit of compounding, giving interest not only on the principal but also on the interest that gets added to the principal amount periodically.
You can use the Bajaj Finance FD calculator to get insight into the returns on your investment.
Additional Reads: How much monthly interest can a 5 crore FD earn?
Benefits of Fixed Deposit with Bajaj Finance
The benefits of Fixed Deposit with Bajaj Finance include:
- You can start with investing an amount as small as Rs. 15,000 with Bajaj Finance.
- You can get higher FD rates than bank FDs i.e: up to 8.85% p.a.
- You get the freedom to choose the tenor of your investment as per your financial goals. This tenor can be anywhere between 12 to 60 months.
- Senior citizens can earn up to 0.40% p.a. higher interest compared to regular fixed deposits.
How to invest in Bajaj Finance FD?
The FD investment process with Bajaj Finance is simple and quick. To make an FD online with Bajaj Finance, follow the below-given steps:
- 1 Open the account opening form by clicking on the option ‘Invest Online’
- 2 Enter your date of birth, phone number, and OTP
- 3 Enter your basic KYC details if you are a new customer. If you are an existing customer, you simply need to verify your details.
- 4 Enter the amount, tenor for investment, payout type, and bank details
- 5 Pay the deposit amount using UPI or net banking
- 6 Once your payment is successful, within 15 minutes you will be sent an acknowledgement via SMS and email
Invest in Bajaj Finance FDs to get maximum secured and safe returns on your precious savings.
Frequently asked questions
Bajaj Finance has launched a new FD type called "Bajaj Finance Digital FD" for a period of 42 months. Bajaj Finance is providing one of the highest interest rates of up to 8.85% p.a. for senior citizens and for the customers below the age of 60 they are providing up to 8.60% p.a. The Digital FD can be booked and managed only through the Bajaj Finserv website or app.
Yes, the interest earned on a 1 crore FD (Fixed Deposit) is taxable. This interest income is added to your overall income for the financial year and taxed according to your income tax slab.
