Banks are trying to adapt to the current dynamic market. However, other financial institutions are providing FDs with higher rates of interests and customized benefits. Some of the few include Bajaj Finance which even guides its customers to select the right fixed deposit plan and other financial products.

New aspects of Fixed Deposit

In this age of technology, quality products and services are the trends. Customization of traditional fixed deposits enables to add new features like FD Calculator which can calculate your future returns before making the investment. Bajaj Finance provides such tools, and prices do not fluctuate in short-term or long-term investments. They provide flexible tenor for the customer to choose.

The range can be between 12 to 60 months. The unique 15-month tenure FD offers 0.25% higher rate of interest than a regular 1-year term. The easy to access online application system is something which cuts down the long queues in banks and other firms. Today, a customer can avoid the tedious paperwork and only needs to submit his KYC documents and photographs. Keeping track of one’s FD is now easy through an online account.

Should I still wait before investing?

These are some of the benefits and many more, once you choose to invest in fixed deposits. Dangers like inflation and added taxes are there. Therefore, there are NBFCs which provide higher returns on investments than regular fixed deposits. Besides, there are tax-saving FDs in banks for long-term deposits like 5 years or so. A customer should check all the documents and seek financial advice. Bajaj Finance anyway provides guidance and products according to their customer’s needs.