How To Save Your First ₹100,000 With Bajaj Finance FD

Starting in your investment journey as a new earner can be exciting. Even more exciting is reaching the first proverbial mark of Rs. 1 lakh in your investment. While your income is credited, is it also spent quickly on essentials and luxury items. Its a smart move to check where to invest money right when you start earning.

As you are young and still have a lot of working years left, investing a fixed sum in equity markets, and being open to the risk of market volatilities might be a possible option. However, a certain portion of your investment should always be in a high paying fixed deposit. FDs provide a cushion against the volatile investments and also provide high interest if chosen carefully. 

Multiplying your money to Rs. 1,00,000

While looking for an FD which will help you multiply your savings into your first Rs 1 lakh, consider the following points -

High-interest rates-  A high interest rate will help you achieve your goal faster in the shortest duration possible. Company FDs pay 1 -2% higher interest rate than banks. You can look at Bajaj Finance FD for this purpose where, as a new customer, you get an interest rate of 8.6%. So, if you want to plan high yielding investment for your first Rs. 1 lakh fund, this is the way to go. Later, when you go for a renewal of your FD as an existing customer, you also get an additional interest rate of 0.10%. A high-interest rate multiplied can build a sizeable corpus over a period of time.

Importance of tenor- Since your investment amount might not be high as you are still saving, you can look at a longer tenor for keeping your money invested. You can use the online FD calculator to check how much base capital you need and for how long do you need to keep it invested to be able to achieve Rs. 1 lakh. If you have less than Rs. 68,000, then you need to stay invested for the duration longer than 5 years to and if you have at least Rs 60,000 to invest then you can gain Rs. 1,02,721 after 5 years of investment.

High Return On Investment- Most institutions can try to get you a decent Return on Investment, but with Bajaj Finance FD you can get a Return On Investment as high as 54% and a minimum of Return on Investment of 51%. For instance, if you start with the minimum amount of Rs. 25,000 required for a Bajaj Finance FD, for 5 years as a new customer, you get a return of 51% on your principal amount. 

To know what your FD investment will look like and what all it will earn you, use online FD calculator. It is simple and easy to use. For your ease, here are a few results –

Interest Rate
Principal Amount
Interest Amount
New Customer
5 Years
Existing Customer
5 Years

Cumulative and non-cumulative options- Depending upon your needs, you can choose between cumulative and non-cumulative FD. If you are in need of regular payout, then choose the non-cumulative where you can get monthly, quarterly and half-yearly, but this will delay achieving the Rs. 1 lakh goal. If however, you do not require payouts and can wait till maturity, then choose the cumulative FD. Cumulative FDs gives you higher profit as compared to the non-cumulative FDs as they pay only on maturity of the FD. This way, you can add the interest on interest to reach faster to your goal.

Safety and assurance- You can be assured of guaranteed return of capital and interest amount with Bajaj Finance FD as they are highly secured and credited with stable ratings such as FAAA (stable) rating from CRISIL and MAAA (stable) rating from ICRA. 

Thus, contrary to popular wisdom, FDs have emerged as a compelling investment class for building a future corpus.

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