Long before the world caught on to the concept of Teachers’ Day, Indians have expressed their gratitude to their teachers on Guru Purnima. While Guru Purnima came into existence with disciples touching their guru’s feet and fasting, as is the case with all things, the way most people celebrate this day has evolved, too.
You can thank anyone you regard as a teacher, be it your parents, a professor or mentor. But, to truly express gratitude towards the person who has given you the gift of knowledge, why not return the favour with a gift that will help them lead a comfortable, secure life? A fixed deposit for senior citizens is an excellent investment that you can make for your teacher.
It is a way in which you can take care of their post-retirement life with ease, ensuring that their financial needs are well taken care of. Look at why a fixed deposit for senior citizens makes for the best gift this Guru Purnima.
Why choose a fixed deposit for your guru?
Yes, you can always express your gratitude with a card, but if you want to make a meaningful contribution to your teacher’s life, just like he or she made to yours, take the extra effort to create a fixed deposit in your teacher’s name. It will help them take care of all their post-retirement expenses without any stress. In addition, fixed deposit interest rates are high and they offer assured returns. Simply use an FD calculator to see the return on investment that your teacher will enjoy.
Another reason why a fixed deposit is better than most other gifts is because it allows you to choose between non-cumulative interest and cumulative interest depending on what will benefit your teacher more. If you want to help your teacher build a cash reserve for future use, choosing a cumulative interest senior citizen FD is ideal. The interest will compound over the course of the tenor and offer a substantial sum on maturity.
On the other hand, if you anticipate that your teacher will require funds on a monthly basis, to replace a salary, for instance, you can opt for a non-cumulative interest senior citizen FD. This will give your teacher a payout regularly, as per the interval that has been selected. Typically, you have a choice to choose between a monthly, quarterly, bi-annual or annual payout, depending on your teacher’s needs.
Selecting the best fixed deposit this Guru Purnima
Ensuring that you choose only the best fixed deposit for your teacher is key as it determines the benefits they will be able to accrue once they retire. Bajaj Finance, a leader in the market, offers an excellent Fixed Deposit that you can rely on. Take a look at why this senior citizen FD makes the cut.
Higher interest rate: With its Senior Citizen Fixed Deposit, Bajaj Finance offers senior citizens up to 0.35% higher interest rates. This is significant, as the regular interest rate itself goes up to 8.75%. As a result, this FD offers better returns than most other investment options that cater to retirement.
High stability: Since fixed deposits aren’t linked to the market, they are extremely stable and offered assured returns. Besides, ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating reinforce the fact that Bajaj Finance’s Fixed Deposits are a safe choice.
Greater flexibility: Bajaj Finance offers you flexibility with regards to the type of interest that you want to choose for your fixed deposit as well as the duration of the investment. This will help you ensure that your gift to your teacher aligns with his or her retirement goals seamlessly.
Added convenience: Besides all these features, a Bajaj Finance Fixed Deposit for Senior Citizens will allow your teacher to make premature withdrawals from the FD, if need be, or use the investment as collateral and take a loan against it to meet more substantial financial requirements.
So, if you’re looking for the perfect gift for your teacher this Guru Purnima, one that truly encapsulates your gratitude, look no further than Bajaj Finance’s Fixed Deposit for Senior Citizens.