Investing your income in an instrument that provides consistent returns, can help you secure your future. However, when choosing the right instrument, look for a balance of high growth of savings and safety of capital. By investing in a fixed deposit, you can balance your returns with risk, and get consistent returns.
What’s more – with Bajaj Finance online FD, you can look at exploring a convenient mode of investment that offers highest safety of deposit. With this FD, you can secure your investment and multiply savings at interest rates of up to 7.25%.
Read on to know more about the benefits of investing with this scheme.
Easy investment process
You might turn down even a lucrative investment option just because it involves a lot of paperwork and a complex process. However, with the Bajaj Finance online FD, you get the benefit of a contactless online process and an easy online verification procedure for new customers. The details of existing customers appear, as soon as they verify their mobile number online.
Also, an additional rate benefit of 0.10% is offered to non-senior citizens, investing online through the Bajaj Finserv website. Thus, you can grow your savings further, with this mode of investment.
Higher growth of savings for senior citizens
For senior citizens looking to grow their savings, there is an additional rate benefit of 0.25% on their savings, irrespective of their chosen mode of investment. The FD interest rates calculator integrated on the website will provide accurate estimation of returns. This fixed deposit calculator will reflect the returns of both FD types i.e. cumulative and non-cumulative FDs for the same amount and tenor simultaneously to assist while you are pondering over the better investment alternative.
Steady returns for better growth of savings
The higher rate of interest ensures that you earn enough returns upon completion of your tenor. You can also expect to earn higher returns by investing in a Bajaj Finance FD, as compared to returns offered by other banks or NBFCs.
For instance, suppose you invest Rs. 40,00,000 in a bank FD then the applicable interest rate will be up to 6% that also only on choosing a longer tenor say 4 years. However, with the Bajaj Finance Fixed Deposit scheme, you get an interest rate of up to 7.25% for tenors ranging from 36 to 60 months. Now, if you invest the same amount for 4 years in this FD scheme, the returns will be much higher and this can be verified from the below table:
If you want to earn a periodic interest from the same amount and tenor, then you can invest in non-cumulative FDs offered by Bajaj Finance FD. You will get the option of monthly, quarterly, six-monthly, and yearly interest payouts options and you can check the periodic interest amount from the table listed below:
Here, you can see that you can even earn a monthly salary by selecting the monthly interest payout option. This provision is especially helpful for senior citizens and individuals who seek a monthly salary on their investments. With flexible tenors ranging from 12 to 60 months, you can tailor your FD plan as per your investment needs. However, FD interest rates are usually higher for longer tenors, and payouts at maturity. You can plan your investments using a FD Calculator, to determine the maturity amount you’d need, to plan your savings better.
Start investing with smaller deposits
Apart from these benefits, you also get the option of investing in the Systematic Deposit Plan from Bajaj Finance. With SDP, you can skip investing a bulk amount as you can deposit Rs. 5000 every month. You can make from 6 to 48 deposits as per your choice.
Every deposit you make will be considered to be a unique FD and the interest rate will vary as per the date of deposit. Also, if you prefer to withdraw all your deposits in one day then you can invest in its Single Maturity Scheme variant or you can also withdraw each deposit separately by selecting a tenor of up to 60 months for each deposit. For that, you will have to choose its variant called Monthly Maturity Scheme.
Collateral-free loans
If you are perplexed due to a financial emergency that might force you to break your investments, then Bajaj Finance online FD provides a smarter alternative for you. You can apply for a loan against your FD and this loan will be provided without any collateral. As a result, you can keep your deposits untouched during a crisis.
These options are great if you have started earning recently and those who are not comfortable in investing a lump sum amount. Both SDP and fixed deposit plans offered by Bajaj Finance are safe as they have been considered to be a highly credible platform by credit rating organizations like ICRA and CRISIL.
