Learn Exactly How To Start Investing in Monthly Income Plan
FINANCE

Learn Exactly How To Start Investing in Monthly Income Plan

Bajaj-Finance-Fixed-Deposit

Investment is a necessity to grow your money for the future. While there are various types of investment options to choose from in India, one should keep in mind their age and their requirements for investment.

This includes deciding whether 
  1. To invest long term or short term
  2. To invest in risky or risk-free investments
  3. To check liquidity requirements in case of financial emergencies

You need to take into consideration these factors while selecting your investment avenue.

One of the best ways to fund your expenses after your retirement without using up the savings you kept for retirement is to look for investment options that offer steady income. Get detailed explanation on Up the Gains – Let’s kickstart your wallet. This will help you to fund your expenses and you can plan your finances better. The reason is that you will get regular interest payouts from the amount you have invested. Several investment options have started offering a monthly income to fund regular expenses so that there is no fear of outliving your retirement savings.

Monthly income can be earned by investing in different schemes such as mutual funds schemes, fixed deposit plans, annuity, and other financial instruments that can give a monthly interest. Fixed deposits however are the best option in the market since they offer a fixed return on the amount invested despite the uncertain and everchanging market scenario. They hence offer a stable return compared to other monthly investment options.

 A bank Fixed Deposit is considered a safe investment option with the least amount of risk and highest form of liquidity. A fixed deposit is an investment of your savings to earn a higher rate of return than a regular savings account. It is offered by banks and NBFCs (Non-Banking Financial Companies). A fixed deposit has the lowest risk in the portfolio of investment. Money is invested in a fixed deposit with a lock-in period and interest is given either at the end of the maturity date or as a regular payout. Investing in Fixed Deposit is a very smooth process and can be done at the tip of your fingers.

Parking your investment in the correct Fixed Deposit in 2021 will ensure high fixed deposit returns on maturity and also a choice of regular interest payouts throughout the chosen tenure. To ensure high returns you must look for a Fixed Deposit scheme with high-interest rate payouts before opening a new fixed deposit account or renewing an existing one

You need to go through Fixed Deposit schemes of different banks and select the one as per your needs and requirements. Bajaj Finance Fixed Deposit is said to have one of the highest returns with an interest rate of up to 6.75%. 

Bajaj Finance Fixed Deposit Calculator can help you simply determine the Fixed Deposit maturity amount. You will need to follow a few simple steps to check the FD interest rate and  FD maturity amount. Firstly, you will need to go to Bajaj Finance FD Calculator and choose the type of customer you are. Then put in the FD type (cumulative or non-cumulative) and the amount of your principal and the tenor. The final amount of interest and your total amount earned at maturity will be displayed on the screen. 

When you use the Bajaj Finance Fixed Deposit calculator, there is an option that appears to choose from cumulative and non-cumulative payout options. These two options determine your interest rate and maturity value.

A cumulative Fixed Deposit scheme on the other hand is an option where interest is payable at the time of maturity along with the principal. The amount, in this case, is compounded annually. It is a perfect fit for someone who does not require periodic interest payouts.

A non-cumulative Fixed Deposit scheme is an option where the interest is payable on a monthly, quarterly, half-yearly, and yearly basis. This kind of option is designed to suit someone who needs an interest payout periodically.

So the next time you plan to invest in Bajaj Finance Fixed Deposit, you can use the Bajaj Finance Fixed Deposit Calculator to determine the best Fixed Deposit type and tenor for your needs. After figuring out the best Fixed deposit option for your investment, you can invest in a plan and earn monthly income sitting right at your home.

 

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