Post Office Saving Schemes like NSC, post office time deposits, PPF, etc. are considered to be a safe place to park your earnings. As they are regulated by post offices that are present in every village or city of India, you can start earning from them quite easily.
Bajaj Finance FD is a corporate fixed deposit that offers the safety of returns and a high interest rate of up to 6.75% that is unrivalled in the market of fixed deposits. Let’s compare them on the basis of the below-listed features to figure out the better investment option for you:
Safety
Post Office Saving Schemes are safe as they are backed by the government of India. Bajaj Finance FD has received the highest credit ratings by ICRA and CRISIL for securing the capital of investors. This means that both these investments are risk-free.
The deposit book of over Rs. 25K crores that includes 2.5 lakh customers who have invested in Bajaj Finance FD says a lot of its popularity and trustworthiness in India.
Investment Process
Both these instruments offer a fixed interest rate and easy investment options but Bajaj Finance FD is one step ahead as it offers an investment process that enables you to take the online route from start to end. You can start the process by filling the online FD form and documentation can be completed via the cKYC online verification method.
The payment can also be made online via convenient online payout options like UPI or net banking. On top of these benefits, you also get a 0.10% higher FD interest rate for investing online.
Returns
Both post office saving schemes and Bajaj Finance FD are high return investments. To compare the returns offered by them, let’s see an example. Imagine that you invest Rs. 10,00,000 in a post office time deposit and Bajaj Finance FD at the same time. The returns that you will get on choosing a tenor of 5 years in both the cases can be checked from the below table:
| Fixed Deposit Plan | Principal Amount | Tenor | Interest Rate | Interest gains | Maturity Amount | Growth in savings (%) |
| Post Office FD | Rs. 10,00,000 | 5 years | 6.7% | Rs. 3,94,067 | Rs. 13,94,067 | 39.4% |
| Bajaj Finance FD | Rs. 10,00,000 | 5 years | 7.25% | Rs. 4,19,013 | Rs. 14,19,013 | 41.9% |
Hence, you can see that the difference in returns is significant enough to make a huge difference in your earnings. Moreover, the multiple interest payout options offered by Bajaj Finance FD make it a better option for those who need some extra cash after each month, 3-months, six months, or year to handle their expenses.
The collateral-free loan against fixed deposit offered by Bajaj Finance gives you the opportunity to grow your investments without any halt. The 0.25% additional FD rate applicable to senior citizens allows them to earn higher returns upon maturity. The multi-deposit facility that helps you while investing in different FD plans at once makes it a better investment alternative for everyone these days.
Post Office Saving Schemes are ideal for risk-averse investors who want to grow their savings at a decent speed. Investing in Bajaj Finance FD is also safe as it has received high credit ratings by credit rating agencies like ICRA and CRISIL. Moreover, the interest rates of up to 7.25% provided by Bajaj Finance FD make it one of the best FD interest rates in the market. Also, options like the online investment process, multiple interest payout options, multi-deposit feature, etc. make it a favorable option to earn sufficient returns in today’s times.
Gaurav Khanna is an experienced financial advisor, digital marketer writer who is well known for his ability to predict market trends.
