Bajaj Finance Fixed Deposit: Empowering the women of today to grow their savings
Financial independence empowers an individual to live a fulfilling life. Therefore, it is of utmost importance to have your finances organised to feel confident you can have decent spending capacity and have a fall-back option in case of job loss or uncalled unfortunate incidences. Being financially independent can also help one have a direction in life and achieve goals seamlessly. Women across the world today stand shoulder to shoulder with men and are doing significantly better financially. However, just earning more isn’t enough to be financially well off. One must inculcate the habit of saving and investing, which leads to wealth generation.
Here are a few easy investment tips for women who aim to grow their savings.
1. Follow a budget rule
Following a budget rule is one of the most financially productive things. Many rules help in budgeting, but the 50-30-20 rule is a relatively simple rule that can apply to everyone irrespective of their income. The rule suggests that you can easily spend up to 50% of your income on basic needs and necessities like rent, food, utilities, etc. 30% of the payment on wants like regular purchases, things on your wish list, etc., and the last 20% should be stashed away as savings. 20% may seem less, but over time if invested in the right tool can accumulate into a sizeable chunk.
2. Invest in monthly savings schemes
If you can’t invest a lump sum in a single go choosing a monthly income scheme is a smart option. You can make bite-sized monthly investments and earn big eventually. The Systematic Investment Plan (SIP) is one such monthly savings scheme.
3. Diversify your portfolio
Portfolio diversification helps in offsetting risks and capital preservation. To balance your investment portfolio, you must invest in all risk types of financial tools. Women looking for low-risk options can set aside a chunk of their savings in fixed-income instruments like fixed deposits that offer decent FD interest rates. The returns from this investment are guaranteed, which you can use as a contingency fund, or a corpus to fuel your financial goals and significant purchases.
Fixed deposits are stable investment tools to help women safeguard their earnings against market volatilities and uncertainties. Banks, post offices and NBFCs offer FDs. Bajaj Finance is one NBFC that offers its women investors the utmost safety of deposit and high FD rates.
The Bajaj Finance Fixed Deposit can help women enrich their finances with an initial deposit of just Rs. 15,000.
1. Assured returns
Bajaj Finance FD has been accredited by CRISIL’s FAAA rating and ICRA’s MAAA rating. It indicates the highest safety for your money. It implies that your hard-earned money is in safe hands, and you do not have to worry about untimely payouts.
2. High FD rates and predetermined returns
Bajaj Finance offers one of the highest FD interest rates, which go up to 7.20% p.a. for regular investors and 7.45% p.a. for senior citizens. Senior citizens get an additional 0.25% p.a. over and above the base rate on their deposits. If you’re a woman who’s looking to accrue more value long-term, these interest rates are highly advantageous to your financial goals.
Let’s take a look at how much a woman who invests Rs. 2,00,000 can earn over different tenors.
As you can see, these special tenors can generate handsome returns at maturity. You can easily calculate your returns at maturity using the online FD calculator. It helps in aligning your investments with your goals.
1. Systematic Deposit Plan (SDP)
If you don’t have a lump sum to invest in a fixed deposit, you can quickly build your corpus with the Systematic Deposit Plan (SDP). The SDP is a monthly saving scheme offered by Bajaj Finance that lets you earn generous returns by making small monthly deposits, starting with just Rs. 5000 every month. Every deposit you make is treated as a separate FD, and the deposit amount is auto-debited every month like a SIP. SDP offers two variants for payout options, the Single Maturity Scheme and the Monthly Maturity Scheme. If you wish to get a lump sum at maturity, the Single Maturity Scheme is wise. But, to generate a monthly income from your investments, the Monthly Maturity Scheme is a preferred option.
Every woman can now take charge of her finances by following these essential tips and investing in the right financial tool. Bajaj Finance Fixed Deposit can help women achieve financial independence and grow their wealth seamlessly.
