From higher FD rates for senior citizens to tax benefits, a fixed deposit offers many perks to investors in their golden years. A majority of FD issuers also offer higher interest to seniors, which aids them during retirement since these rates are directly proportional to the payout. It is no wonder that a lot of investors over 60 use FD earnings in lieu of a pay cheque.

Of the many issuers offering high FD rates for senior citizens, the Bajaj Finance Fixed Deposit rates are among the highest. However, this FD has more to offer to senior investors. Its benefits range from an easy investment process to a loan facility as well as multiple payout options. Read on to learn more.

Attractive FD Rates For Senior Citizens

Bajaj Finance Fixed Deposit rates for senior citizens go up to 7.95% per annum as compared to 7.70% to non-senior investors. This facilitates better wealth accumulation and can help ensure a seamless retirement.

To illustrate the difference that a 0.25% increase in FD rates for senior citizens makes, here’s a table for an FD investment of ₹3 Lakhs for both investors.

Tenor (in months)	FD rates for senior citizens	Interest earnings (in ₹)	FD rates for investors under 60	Interest earnings (in ₹)
15	7.20% p.a.	27,239	6.95% p.a.	26,285
22	7.35% p.a.	41,658	7.10% p.a.	40,201
33	7.55% p.a.	66,480	7.30% p.a.	64,142
44	7.95% p.a.	97,135	7.70% p.a.	93,773

Disclaimer: The calculations above have been done using the prevailing Bajaj Finance Fixed Deposit rates and the Bajaj Finance FD Calculator.

Flexible Tenor and Investment Amount

Having the flexibility to choose the most suitable FD timeline and the investment amount is a great advantage for retail investors. It allows seniors to tailor the investment to their finances and goals.

To make the most of high Bajaj Finance Fixed Deposit rates, seniors can book an FD ranging from 12 to 60 months and can start an investment with just ₹15,000. This allows you to lock in high FD rates for the duration of your FD and ensure financial growth.

Multiple Payout Options

You can enjoy the benefit of FD earnings not just when your FD matures. You can also choose to receive your interest earnings at periodic intervals. This enables seniors to meet recurring expenses or pay monthly bills with ease.

With the Bajaj Finance Fixed Deposit, seniors can choose monthly, quarterly, half-yearly, and annual interest payouts. However, keep in mind that the Bajaj Finance Fixed Deposit rates vary as per the selected payout and may be lower in comparison to getting the earnings at maturity.

For clarity, take a look at what the Bajaj Finance Fixed Deposit rates and returns are for both cumulative and non-cumulative monthly payouts for an investment of ₹2 Lakhs.

Tenor (in months)	Cumulative FD rates for senior citizens	Interest earnings (in ₹)	Non-cumulative FD rates for senior citizens with monthly payouts	Interest earnings (in ₹)
12-23	7.05%	14,100	6.83%	13,660
24-35	7.50% p.a.	31,125	7.25%	29,000
36-60	7.75% p.a.	50,197	7.49% p.a.	44,940

Disclaimer: The calculations above have been done using the prevailing Bajaj Finance Fixed Deposit rates and the Bajaj Finance FD Calculator.

Easy Availability Of Financing

With age, the chances of unexpected medical costs also increase. While you may have emergency funds, inflation and other sudden needs could result in quick depletion. In such cases, you can take a loan against your fixed deposit instead of breaking your investment.

You can avail a loan of up to 75% of your FD value at a nominal interest rate through your Bajaj Finance Fixed Deposit. Choosing this can help ensure you do not lose out on interest earnings and can comfortably repay the loan.

Online Provisions For Easy Investment Management

Today, you can invest, renew, and manage your investment from the comfort of your home, in just a few clicks. You can do the same with the Bajaj Finance Fixed Deposit. With easy application, renewal, and management, you can stay on top of your investment.

Security Of Your Investment

Fixed deposits, by nature, are not linked to the market and, as such, remain unaffected by volatility. The only risk is that the company offering FDs may default if it faces financial decline or challenges that restrain it from fulfilling its obligation to investors. To counter this, credit agencies rate corporate FDs.

The Bajaj Finance Fixed Deposit has a credit rating of AAA/STABLE by CRISIL and AAA/(Stable) by ICRA, making it one of the safest and most secure instruments. You can rest easy knowing that your hard-earned money will be returned to you and that your interest earnings will also be accessible as per your chosen payout option.

To optimise your investment and secure the best Bajaj Finance Fixed Deposit rates use a fixed deposit calculator. This tool gives you an accurate estimate of your returns and helps ensure that you make a smart decision. Moreover, the calculator is easy to use, offers instant results and is free, allowing you to use it as many times as you want!

You can also use it to compare returns from different issuers. As a senior citizen, make sure you check the credit ratings and the FD interest rate before you sign up. Since the Bajaj Finance Fixed Deposit rates are one of the highest and come with a high credit rating, you can rely on it during your retirement.