Interest rates on fixed deposits (FDs) have been continuously falling for a couple years now due to which many Indians are now earning returns that barely beat inflation. ETMONEY, a Times Internet-owned online wealth management app, has partnered with Bajaj Finance to offer online FDs to investors that come with assured returns of up to 7.35 percent, which is much higher than interest rates on bank FDs.
The features of this offering include flexible interest payouts, tenures ranging from 12 to 60 months, and higher interest rates for senior citizens.
“The convenience of investing using ETMONEY in a seamless and 100% paperless manner along with the safety of this investment instrument can help millions of Indian investors plan their short-term financial goals with confidence,” stated an ETMONEY press release.
ETMONEY Founder-CEO Mukesh Kalra said, “Fixed deposits have been an indispensable investment option for hundreds of millions of Indian families for over half-a-century. In these uncertain times, we intend to bring safety and assurance via high-interest FDs from Bajaj and enable Indians to grow their savings seamlessly. We’re glad to have been able to do it end-to-end, from concept to launch, amidst the pandemic.”
(Disclaimer: ET Money is owned by Times Internet, the publisher of Economic Times website)