This Onam, Secure Prosperity with the Best FD Interest Rates for Your Savings

September 5, 2025 Published by rajeshe092eb6a68

Onam, Kerala’s beloved harvest festival, symbolises prosperity, abundance, and togetherness. As families across India prepare to celebrate this joyous occasion, there’s no better time to reflect on careful financial planning to secure stability. Fixed Deposits (FDs), known for their safety and guaranteed returns, offer an excellent avenue for investing savings—especially with the attractive FD rates currently available. With thoughtful planning, individuals and senior citizens alike can build a financial cushion that safeguards family needs and future goals.

Understanding Fixed Deposits and FD Interest Rates

A Fixed Deposit (FD) is a financial product offered by banks and NBFCs that allows you to deposit a fixed sum of money for a predetermined tenure and earn interest at fixed rates. Unlike volatile investments such as stocks, FDs guarantee returns, making them a preferred choice for risk-averse savers.

Currently, Bajaj Finance offers fd rates of up to 7.30% p.a. for senior citizens and up to 6.95% p.a. for non-senior citizens, depending on the chosen tenure. These are among the most competitive deposit rates in the market, giving investors the opportunity to grow wealth securely.

Example:

– Regular Investor: If you invest Rs. 2,00,000 in an FD at 6.95% for two years, your return will be around Rs. 28,766, giving you a maturity value of Rs. 2,28,766.

– Senior Citizen: For the same Rs. 2,00,000 at 7.30% p.a., you would earn Rs. 30,266, taking the maturity value to Rs. 2,30,266.

By carefully choosing your FD tenure and type, you can align savings with future expenses such as education, property purchases, or retirement needs.

FD for Senior Citizens: A Tailored Solution for Security

Senior citizens enjoy preferential FD rates, which are up to 0.35% higher than regular FD rates with Bajaj Finance. This additional earning potential makes a meaningful difference in retirement planning.

Example:
Amount Invested: Rs. 5,00,000 (Regular FD)
Interest Rate: 6.95%
Tenure: 2 years
Maturity Amount: Rs. 5,71,915 (approx.)

Amount Invested: Rs. 5,00,000 (Senior Citizen FD)
Interest Rate: 7.30%
Tenure: 2 years
Maturity Amount: Rs. 5,75,664 (approx.)

The higher rate ensures steady growth for retirees, providing them with both peace of mind and financial independence.

Factors to Consider When Selecting FDs This Onam

1) Rates Across Institutions

FD rates differ between banks and NBFCs. While banks often offer slightly lower rates, NBFCs like Bajaj Finance usually provide higher returns. It is important to balance safety with yield by choosing reputed institutions with top safety ratings.

2) Preferential Senior Citizen Rates

Senior citizens should maximise their returns by opting for higher-yielding FDs, and selecting cumulative deposits can further compound earnings over time.

3) Tenure Selection

Choose FD tenures that match your financial goals. Shorter terms provide liquidity, while longer terms maximise compounding and interest accumulation.

Tax Implications of Fixed Deposits

Interest earned on FDs is taxable under the Income Tax Act. For senior citizens, Section 80TTB allows deductions of up to Rs. 50,000 annually on interest income. TDS applies if annual FD interest exceeds Rs. 40,000 for regular investors (Rs. 50,000 for senior citizens).

To avoid unnecessary TDS deductions, investors can submit Form 15G (for those below 60 years) or Form 15H (for those above 60 years) if their income falls below the taxable threshold.

Benefits of Choosing FDs During Onam

Onam is not just a time for cultural celebration but also an opportunity to plan for prosperity. Alongside attractive festive offers, Bajaj Finance FD provides:

– Guaranteed returns unaffected by market volatility.

– Flexible payout options—monthly, quarterly, half-yearly, annually, or cumulative.

– High safety ratings (AAA from CRISIL and ICRA) for assured security.

– Easy online booking for convenience during the busy festive season.

For those wanting liquidity, sweep-in FDs allow linking deposits with savings accounts for effortless fund access without losing interest benefits.

Conclusion

Onam signifies abundance, prosperity, and wise living—values that resonate perfectly with the stability of Fixed Deposits. By investing in a Bajaj Finance FD, you can enjoy interest rates of up to 7.30% p.a. for senior citizens and 6.95% p.a. for non-senior citizens, ensuring secure growth of your savings.

This festive season, let your money work for you while you celebrate with family. A Bajaj Finance FD not only strengthens your financial base but also ensures that the prosperity of Onam stays with you all year long.

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