Best Strategies to Get the Highest FD Interest Rates in India

 Fixed deposits (FDs) have long been a popular investment option in India, offering safety and assured returns. However, with fluctuating interest rates across banks and financial institutions, it becomes essential for investors to adopt the right strategies to secure the highest FD interest rates. For those keen on generating a stable income, understanding how to maximise returns—such as achieving a 1 lakh fixed deposit interest per month—is crucial. Bajaj Finance FD stands out as a reliable product that offers competitive interest rates tailored to diverse tenures and age groups.

Understand tenure-wise interest rates

Interest rates on FDs vary widely depending on the tenure you choose. Typically, longer tenures offer better interest rates but lock in your money for extended periods.

- For non-senior citizens, Bajaj Finance FD currently offers an attractive rate of 6.95% per annum for deposits between 12 to 60 months.

- Senior citizens can enjoy even higher returns, with rates going up to 7.30% annually for similar tenures.

Choosing the appropriate tenure based on your liquidity needs can significantly impact the effective returns of your FD.

Consider the payout frequency to maximise monthly income

When aiming for a 1 lakh fixed deposit interest per month, it is essential to choose the payout frequency wisely. Bajaj Finance FD offers options such as monthly, quarterly, half-yearly, and at-maturity payouts.

- Monthly interest payout plans provide regular income and can be ideal for retirees or investors seeking steady cash flow.

- For senior citizens, the monthly interest rate can be as high as 6.74% per annum for tenures between 12 to 14 months.

Selecting monthly payout structures ensures consistent income while benefiting from competitive interest rates.

Leverage senior citizen benefits for higher rates

Senior citizens are entitled to higher interest rates on FDs, which makes it easier to achieve better returns.

- Bajaj Finance FD provides an additional surcharge on rates for investors above 60 years.

- For instance, deposits between 12 to 60 months earn up to 7.30% annually compared to 6.95% for non-senior citizens.

If you qualify as a senior citizen, opening an FD with Bajaj Finance can significantly enhance your returns.

Conclusion

To sum up, obtaining the highest FD interest rates in India requires a combination of choosing the right tenure, payout frequency, and leveraging senior citizen benefits. Bajaj Finance FD stands out by offering competitive rates such as 7.30% per annum for senior citizens and flexible monthly interest payouts that can help investors easily earn a 1 lakh fixed deposit interest per month with appropriate investment sums. By strategically selecting Bajaj Finance FD products, investors can maximise their returns while enjoying safety and assured income.