Interest rates have moved upwards in 2018 and are expected to peak in 2019. This will serve as an essential corpus building time for investors, especially senior citizens. Senior citizens can benefit from increasing interest rates by investing in fixed income instruments.
Banks and NBFCs (non-banking financial instruments) are offering 0.25% to 0.5% increased rates to senior citizens. Bajaj Finance Fixed Deposit has emerged as the best offering with a high-interest rate of 8.75%, which goes up to 9.10% for senior citizens.
Why FDs are the best option for senior citizens?
For senior citizens, investing in high-yielding, debt-focused instruments like fixed deposits can ensure safety of capital and stable growth of returns over time. While both banks and companies offer FDs, you can benefit from higher interest rates by company FDs. When choosing the right company FD to invest in, make sure you invest in FDs with high safety ratings. Bajaj Finance Fixed Deposit has the highest safety ratings by CRISIL and ICRA, which help you ensure safety of capital.
Here’s a look at some of the key benefits of investing in Bajaj Finance Fixed Deposit:
Simple combinations of laddering or choosing payouts as per your convenience can be a firm source of support for retirees. By investing provident funds into Bajaj Finance Fixed Deposit, senior citizens can not only grow their retirement corpus, but also ensure monthly income to fund their regular expenses. With flexible tenors, ranging from 12 to 60 months, you can benefit from easy access to liquidity at all times.blog comments powered by Disqus