Pune, September 9: Non-Resident Indians (NRIs) who wish to have a savings account or a fixed deposit account in India cannot open standard savings account like Indian residents. If you opened a savings account before moving abroad, you need to convert it into a Non-Resident External (NRE) accounts or Non-Resident Ordinary (NRO) account.

To cater to the Indian diaspora, Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, is offering NRI Fixed Deposit enabling them to benefit from high returns up to 8.95 per cent. The Bajaj Finance Fixed Deposit for NRIs offers flexible tenor options between 12- 36 months, along with multi-deposit and easy auto-renewal facility. SBI Slashes MCLR by 10 Basis Points, Lowers 1-Year Lending Rate to 8.15% From 8.25%.

Investing here not only guarantees you safe and assured returns but it also insulates your portfolio from market-related risks. Read on to understand the associated benefits better: Top rating agencies vouch for the stability of the Bajaj Finance FDIn an economy that's been plagued by occurrences of low and even negative returns, the offer of assured gains is compelling. However, it's important that such a guarantee is ratified by reputed agencies. Fortunately, the Bajaj Finance NRI FD comes out unscathed as it has the highest credit ratings from both ICRA and CRISIL. In fact, it even has a BBB rating from S&P Global. Together, these ratings indicate timely interest and principal payouts and the stability of any long-term investments that you make.

You can earn handsome returns, more so if you're a senior investorWith Bajaj Finance you get high returns in addition to safety. You earn interest of up to 8.35 per cent as a regular investor and as a senior citizen benefit even more. This is because you qualify for a 0.35 per cent interest rate boost, bringing the total interest to 8.70 per cent. In both cases, you earn the most when you invest for at least three years and opt for payouts at maturity only. To understand what your returns will be, assume that you invest Rs 10 lakh for 3 years.

You can avoid double taxation by way of DTAAAs an NRI earning both in India and abroad, you would want to avoid double taxation. Fortunately, you can do this by claiming benefits under the Double Tax Avoidance Agreement (DTAA) that India has with the country you live in at present. Depending on the terms of the agreement you will either get a tax credit or an exemption. As a result, you can protect your earnings with relative ease.

You can access liquidity through a loan against FDWhile it's true that an NRI Fixed Deposit offers the best returns when you don't withdraw from it prematurely, Bajaj Finance offers you a convenient alternative for when you find yourself facing a financial crunch. You can pledge your FD as collateral and avail a loan of up to Rs 4 lakh while your investment continues to earn interest.

You can benefit from a range of value-added featuresBajaj Finance allows you to invest for a flexible tenor, opt for periodic interest payouts, manage your account online, invest in several FDs with a single cheque and even opt for the FD auto-renewal facility. The latter is especially advantageous as you get extra 0.10 per cent interest. Continuing with the previous example, and considering that the rates remain the same, here's what you can earn if you opt for FD auto-renewal.

Now that you know how the Bajaj Finance NRI FD adds value to your portfolio and can help you accumulate wealth, book an appointment with an executive to set up your deposit without further ado. This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.