Providing a safe route towards wealth generation, the fixed deposit is a popular feature in many investment portfolios. In the past, investing in an FD meant setting aside a hefty lump sum before you could think of earning interest. However, today, with the Systematic Deposit Plan offered by Bajaj Finance Fixed Deposit, you need not wait until you secure a large corpus for your investment. You can begin saving monthly and earn interest on what you save as well. The process is hassle-free and safe, and best of all, you can start now from the comfort of your home!
Here’s more on saving a portion of your salary each month and growing it with the Bajaj Finance online FD.
Grow your savings through small monthly contributions
Starting a Systematic Deposit Plan with Bajaj Finance is like starting a Systematic Investment Plan (SIP) with a mutual fund but without any of the risk involved. All you must do is set aside a sum of Rs.5,000 or more for the purpose of investment. Each such contribution goes towards a new FD, which earns interest at the rate prevailing on the date of deposit. The process of making monthly contributions is hassle-free as it is automated through an NACH mandate. Only the first deposit is made by cheque.
This plan has two variants Single Maturity Scheme and Monthly Maturity Scheme.
With Single Maturity Scheme, you receive the lump sum amount of all your deposits on a single day.
The maturity date of each subsequent deposit is adjusted according to your chosen tenor, which means the tenor for individual deposits gradually reduces for each subsequent deposit. The aim of this plan is to generate a lump sum corpus at maturity, making
this an ideal option if you are looking to achieve a short-term financial goal.
In the Monthly Maturity Scheme, the tenor chosen applies to each deposit you make. Every deposit matures on a different date as per the chosen tenor and payouts relating to that deposit are disbursed on the date of maturity. This helps you get multiple monthly
payouts, while offering adequate liquidity every month. The objective of the scheme is to generate monthly payouts as per the maturity date of each deposit. If you foresee the need for additional monthly income in the near future, choosing this variant would be ideal.
Depending on your goals, you can either have all your contributions mature on a single day or have them mature after their tenor runs its course.
Assure yourself of sizeable returns at maturity
The Bajaj Finance Fixed Deposit is one of the safest as it carries ICRA’s MAAA rating and CRISIL’s FAAA ratings. These stability ratings are the highest in their respective categories and point to:
● Zero defaults
● Timely payouts at maturity
Use the loan against FD facility in emergencies
You may worry about parking a portion of your salary in an FD if you do not already have a large rainy-day fund in place. However, Bajaj Finance gives you the option of an online loan against your FD. With this provision, you can get up to 75% of your FD’s value and continue to earn interest. If you start a Systematic Deposit Plan, you can, as per the applicable norms, take a loan against each of your deposits.
Invest online and benefit from higher FD interest ratesWhether you desire to take the SDP route or invest a lump sum, you can do so without having to visit a branch. You can kickstart your investment journey by filling out an online investment form. In fact, as a non-senior citizen, you get a 0.10% higher FD rate when you open your FD online.
So, make a smart choice with the Bajaj Finance online FD and invest now from the comfort of your home. This quick process takes you from saving a portion of your salary to earning interest on it in no time at all. So, start saving the smart and safe way today!
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