Fixed deposit v/s savings account where should one choose to invest

Pune (Maharashtra) [India], May 10 (ANI/NewsVoir): The best way to safeguard one's investments from unprecedented and volatile market movements, is by investing in financial instruments that bear no effect of these fluctuations and offer steady growth of money.

plans and savings accounts, being secure investment platforms, both, give the investor the opportunity of earning fixed decent returns, irrespective of how turbulent the market conditions are.
Generally, these steady investments do not reap impressive returns, for instance, a savings account provides interest rates ranging from 3-6 per cent varying from bank to bank. However, if one aims for the perfect combination of high interest rates and safety of deposits, then investing in a Bajaj Finance online Fixed Deposit is the best option. Bajaj Finance online FD offers the best interest rates up to 7.25 per cent for senior citizens, irrespective of their mode of investment.
With Bajaj Finance online FD, one can build a corpus without exposing savings to risks of market movements.
Here's why Bajaj Finance online FD is a preferred investment avenue:
Earn more with high interest rates
A savings account provides lesser gains on interest as compared to a fixed deposit, as the former is calculated using the simple interest formula, giving returns on only the principal amount. On the other hand, the interest earned through an FD is higher as it is calculated using the compound interest formula.
Bajaj Finance online FD offers impressive interest rates up to 7.25 per cent for senior citizens, irrespective of their mode of investment and interest rates up to 7.10 per cent for non-senior citizens investing online. These FD rates are relatively higher than FDs offered by banks.
Consider an example where an investor invests Rs. 35,00,000 in an FD plan for 5 years.
The table below shows the kind of returns the investor can expect to earn depending upon customer category and the chosen mode of investment:

One can use a fixed deposit calculator for estimating the returns with different tenors, FD types, and amounts.
Flexible payout options and Loan against FD
A savings account pays interest as per the bank rules and savings account type. It doesn't provide the flexibility of getting interest payouts as per the investors' choice. However, one can opt for periodic interest payouts as per one's needs, by depositing savings in the non-cumulative FD plan offered by Bajaj Finance, giving them the option of choosing between monthly, quarterly, half-yearly or yearly interest payouts.
Financiers like Bajaj Finance also allow investors, to apply for a collateral-free loan against FDs, a provision that isn't offered by savings accounts. The loan amount against fixed deposits offered by Bajaj Finance can be up to 75 per cent of the FD value. Hence, providing liquidity whenever one needs it the most.
Safe and easy online investment process
An end to end online process adopted by
enables the investors to benefit from the contactless investment procedure. One solely need to fill an online FD form and submit the cKYC number, also, avail additional 0.10 per cent rate benefit for booking online!
High credit ratings bestowed by credit rating agencies like CRISIL and ICRA establish how safe it is to deposit in the FD plans provided by Bajaj Finance.
Therefore, one can easily invest in a Bajaj Finance online FD without having to worry about returns, defaults or untimely interest payouts.
Bajaj Finance Limited, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 44 million customers across the country.
Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
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