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 per cent 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 compes reduced their lending and fixed deposit rates.
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 that offers attractive FD interest rates of up to 7.25 per cent.
By investing in a Bajaj Finance FD, here are the benefits one can reap:
Currently, banks and NBFCs are offering FD rates in the range of 4 per cent. 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 per cent 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 per cent by investing in this FD. For senior citizens, these FD interest rates go up to 7.25 per cent, so there is a greater growth of savings.
In addition to high interest rates, one can also look to safeguard their savings with the assurance of the 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 the lowest risk of defaults or delays.
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 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 of a Loan against FD to cater to emergencies.
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( With inputs from ANI )
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