Bajaj Finserv
Bajaj Finserv

Here's how NRIs can secure their retirement with a Bajaj Finance fixed deposit

ANI | Updated: Oct 31, 2019 17:48 IST

Pune (Maharashtra) [India] Oct 31 (ANI/BusinessWire India): Bajaj Finance Limited, the lending and wealth advisory arm of Bajaj Finserv, offers fixed deposits for NRIs looking to diversify their portfolio.
This Bajaj Finance NRI FD is a great fit for NRI investors who are keen on building their retirement corpus using stable options. With a substantial amount parked in NRO accounts in India, most NRIs are currently earning nominal interest on their money, which is unfavourable as it slows down the rate at which they can achieve their long-term financial goals, such as saving for retirement. Bajaj Finance NRI FD emerges as a hero in such a scenario, offering a safe environment for monetary growth.
Guaranteed substantial returns and several other conveniences make this FD from Bajaj Finance an indispensable element of every NRI's portfolio. Listed below are some of the key features that this Bajaj Finance NRI FD offers:
Interest rates up to 8.70 per cent coupled with high stability ratings
Senior citizen NRIs earn up to 8.70 per cent interest, and regular investors get returns at the rate of 8.35 per cent when they invest for at least 36 months, with interest receivable at maturity. This rate, in conjunction with CRISIL's 'FAAA', ICRA's 'MAAA' and S&P Global's '-BBB' ratings, attest to the stability of the FD. Moreover, a customer base of 2.5 lakh and a book size of over Rs 17,000 plus crore is proof of the excellent investment experience that this NRI FD offers.
Flexible tenor of up to 36 months
NRI investors looking to build a sizable retirement fund should consider investing in FDs that have a long tenor. This is because lengthy tenors allow the investment to grow exponentially through compounding interest. Moreover, when investors choose a 36-month tenor with Bajaj Finance the interest rate peaks. To see even greater returns, investors can reinvest the sum on maturity, and take advantage of an additional 0.10 per cent interest.
Renewal and multi-deposit facilities for ease of investing
NRIs can opt for FD auto-renewal when booking an FD and side-step the hassles associated with reinvesting. Courtesy of this facility, an FD automatically gets renewed for another term upon maturity, without any extra paperwork or document submission. This, combined with the interest rate hike, makes auto-renewal a hassle-free way to invest smartly for those living overseas.
Similarly, through the multi-deposit facility, investors can start several FDs using a single cheque. Not only can they open as many as 5 FDs at once, but they can also select individual tenors, amounts and payout frequencies for each deposit as per their goals.
Tax benefits under Double Tax Avoidance Agreement
NRI investors can also avoid paying double tax as per the agreement signed between India and the country they live in. Based on the agreement, investors can claim either an exemption or a tax credit. As a result, they can reduce their tax liability on the income they earn in India and grow their retirement corpus quicker.
To open an NRI FD and secure their retirement years, investors have to simply fill an online application form and await a call from a Bajaj Finance executive who will assist them with booking an FD.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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