Building Your Child's Future: How Bajaj Finance FD Can Support Education Goals

Building Your Child's Future: How Bajaj Finance FD Can Support Education Goals

FPJ Web DeskUpdated: Friday, February 23, 2024, 11:14 AM IST
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As a parent, you carry immense responsibility of securing your child's future. Investing in their education is crucial, but the increasing cost of quality education can be challenging. A carefully crafted financial plan is crucial to bridge any possible funding shortfalls and ensure your child can chase their dreams without monetary limitations. The Bajaj Finance Fixed Deposit (FD) is a valuable investment option to grow your savings and support your child's educational goals.

The rising cost of education

Education is an investment that can give invaluable returns. However, the cost of education is of real concern. Whether it is primary schooling, higher education, or pursuing a degree abroad, expenses can add up quickly. Moreover, the cost is not limited to just tuition fees; accommodation, textbooks, study materials, travel, and extracurricular activities all contribute to the overall financial burden.

 Why choose Bajaj Finance FD for your child's education?

Bajaj Finance Fixed Deposit provides an attractive set of features that make it a suitable option for financing your child's educational goals:

High interest rates: Bajaj Finance offer one of the highest interest rates on FD, up to 8.85% p.a. This higher return ensures your money grows at a faster pace, giving you a significant corpus by the time your child needs it.

• Safety and security: Bajaj Finance FDs hold the highest AAA rating from financial agencies like CRISIL and ICRA. This top-tier creditworthiness offers investors a sense of confidence, assuring them that their principal amount and interest payments are in safe hands.

• Flexibility: Bajaj Finance Fixed Deposits offer customisable tenures to fit your child's educational goals. With flexible payout options such as monthly, quarterly, half-yearly, annually or at maturity, you can receive funds as needed or let them grow until a major milestone.

How to get started

A. Determine your investment goal: Estimate the potential costs associated with your child's education, factoring in tuition fees, living expenses, and any special programs. This will form the basis of your target corpus.

B. Calculate your investment amount: You can use FD calculator to determine how much you need to invest periodically to reach your target amount within your desired time frame. Bajaj Finance FD Calculator makes this easy and allows you to experiment with different scenarios.

C. Choose your tenure: Choose an FD term that matches the timing of your child's educational expenses, considering their age and when these costs are anticipated to be highest. Bajaj Finance FDs offer flexible tenure ranging from 12 to 60 months.

D. Start investing: Book your Bajaj Finance FD anytime, anywhere, through Bajaj Finserv website or app. Follow these simple steps:

1. Access the Bajaj Finserv platform: Visit the Bajaj Finserv website or download and launch their mobile application.

2. Find the fixed deposit section: Navigate to "Fixed Deposit" section.

3. Start the application: Click or tap on the "Open FD" button to open an online application form.

4. Verify your mobile number: Enter your 10-digit mobile number and confirm the OTP sent to your phone.

5. Provide details: Input your desired investment amount, select how long you want to invest (tenure), and how often you want to receive payouts. Add your PAN and birthdate.

6. Complete your KYC:

a. Existing customers: Verify your details are up-to-date or edit as needed.

b. New customers: Complete your KYC information using your Aadhaar card.

7. Review and accept: Read the declaration carefully, then tick the box to agree to the terms and conditions. Enter your bank details and proceed to payment options.

8. Complete your investment: Choose your preferred payment method (Net Banking, UPI, NEFT, or RTGS) and complete the transaction.

Beyond security: Teaching the value of savings

While investing in FD offers a secure way to grow your wealth, it also presents an opportunity to teach your children about financial planning. Involve them in the process, explaining how saving and investing can help achieve their dreams.

Conclusion

Invest in your child's future by supporting their education. Bajaj Finance FD allows you to create a stable and fruitful financial base for their upcoming years, enabling them to follow their dreams and make a significant difference.

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