Comparison Between Post Office FD and Bajaj Finance FD
Fixed deposits are investment instruments, offered by both Government-backed and private financial institutions, where an individual can invest for a pre-determined period for asset appreciation. FDs are arguably one of the most popular investment options in India, offering assured returns at a high rate of interest when compared to an ordinary savings account.
According to statistical returns released by the Reserve Bank of India, the share of fixed deposits accounted for 57.7% of all investment options during the financial year 2017-2018.
Unlike other investment instruments, FDs are not market-driven, which makes it ideal for risk-averse investors. Moreover, investors can also opt for fixed deposits offered by Indian Postal Services, which is provided against sovereign guarantee backed by the Government of India.
Post Office FD
Post Office FD, or Post Office Time Deposit Account, is one of the many different types of savings instruments offered by Indian Postal Service. It offers risk-free and reliable return against investment, along with several beneficiary features that make it extremely popular.
Time Deposit Accounts are offered with tenors ranging between 1, 2, 3, and 5 years, with Post Office interest rates ranging from 6.9% to 7.7% (as of July 2019.)
These types of FDs enjoy interest rate revision on a quarterly basis and can be invested with a minimum investment amount of Rs.1000. Moreover, individuals can also benefit from the nomination facility and enjoy tax benefits if they opt for 5 year tax-saving FDs.
Other than this option, prospective investors can also choose from FDs offered by Non-Banking Financial Institutions, like Bajaj Finance, which offers several unique benefits as well.
You may also like: Post Office FD vs. Bajaj Finance FD – Which is better in India?
According to statistical returns released by the Reserve Bank of India, the share of fixed deposits accounted for 57.7% of all investment options during the financial year 2017-2018.
Unlike other investment instruments, FDs are not market-driven, which makes it ideal for risk-averse investors. Moreover, investors can also opt for fixed deposits offered by Indian Postal Services, which is provided against sovereign guarantee backed by the Government of India.
Post Office FD
Post Office FD, or Post Office Time Deposit Account, is one of the many different types of savings instruments offered by Indian Postal Service. It offers risk-free and reliable return against investment, along with several beneficiary features that make it extremely popular.
Time Deposit Accounts are offered with tenors ranging between 1, 2, 3, and 5 years, with Post Office interest rates ranging from 6.9% to 7.7% (as of July 2019.)
These types of FDs enjoy interest rate revision on a quarterly basis and can be invested with a minimum investment amount of Rs.1000. Moreover, individuals can also benefit from the nomination facility and enjoy tax benefits if they opt for 5 year tax-saving FDs.
Other than this option, prospective investors can also choose from FDs offered by Non-Banking Financial Institutions, like Bajaj Finance, which offers several unique benefits as well.
You may also like: Post Office FD vs. Bajaj Finance FD – Which is better in India?
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