NRIs seeking steady growth of their capital may consider investing in a safe investment option like fixed deposit, which offers guaranteed returns. However, when investing in FD, it is best to ladder your deposits, so you can maximise the returns from your fixed income. When you invest in NRI fixed deposit, you can lock your finances for a fixed tenor, while benefiting from investment stability.
Top issuers like Bajaj Finance offer an alternative that helps you address your liquidity needs effectively. Via the handy multi-deposit facility, you can split and stagger your investment in FDs. With this feature, it takes just a single cheque to invest in several deposits that are aligned to your various targets.
Read on to know more about the multi-deposit facility available with the Bajaj Finance NRI Fixed Deposit and how you can use it to your advantage.
Invest in several FDs in one go
Through the multi-deposit facility offered by Bajaj Finance, you can invest in 3, 4 or 5 different NRI FDs using a single cheque. This makes investing as convenient as can be. Apart from offering ease of investment, the multi-deposit facility also helps you secure liquidity in the following two ways.
Ladder deposits to achieve regular liquidity
Even as you invest with a single cheque, Bajaj Finance allows you to set different tenors, amounts and payout frequencies for each NRI FD that you open. This means that you can ladder FDs of tenors ranging from 12 to 36 months, as per your needs, and access liquidity from matured FDs. To plan your investments better and ensure that the amount suffices, use an FD calculator to forecast your returns beforehand.
Withdraw only what you require
The multi-deposit facility also helps you address emergencies effectively. This is because you can withdraw prematurely from one or two FDs and keep the rest intact. This means that you get easy access to the funding you require and can continue to earn on the FDs that you haven’t disturbed. If you were to book a single FD, you’d have to withdraw prematurely each time a need arose, and forego a significant amount in the process.
How the multi-deposit facility can help you meet your goals
Bajaj Finance offers different interest rates based on your investor profile and tenor, up to 8.35% for new customers, 8.45% for existing customers, and 8.70% for senior citizens. These rates apply to FDs taken for a tenor of at least 36 months with interest payouts at maturity only.
To understand how the multi-deposit feature helps you achieve various goals, assume that you’re a new customer who is keen on investing to buy a car, plan for retirement and finance a holiday to Europe. You require a total of Rs.32 lakh, and by utilising the multi-deposit facility, you can achieve your goals in the following manner.
Apart from this excellent facility, Bajaj Finance offers other value-added features along with its NRI FD. They are as follows.
· Bajaj Finance FD carries the highest credit ratings of FAAA by CRISIL and MAAA by ICRA, indicating that your investment is safe. Moreover, Bajaj Finance is the only Indian NBFC to have an international stability rating of ‘BBB-‘ by S&P Global, so you can be sure that irrespective of market volatilities you will receive timely payouts.
· You can use the auto-renewal facility to reinvest in an FD effortlessly while you’re overseas. This feature eliminates the hassle of submitting a fresh application once your FD matures, and you can choose to reinvest either your maturity proceeds or just the principal. On renewal, your FD earns more interest too, as you get 0.10% extra interest.
· Bajaj Finance offers a simple and convenient application procedure. Once you decide to open an NRI FD, all you have to do is request a call from an executive by filling out an online form. Alternatively, you can also invest in a Bajaj Finance NRI FD online via Experia, a secure customer portal that also allows you to manage and track the performance of your NRI FDs.
After the recent spate of repo rate cuts, its imperative that you invest quickly so as to secure a high interest rate. When investing, remember to avail the multi-deposit facility to perfectly align your deposits to your liquidity needs.