With financial prudence and a little discipline, investors can now make well informed decisions to build their savings and get high returns based on their financial goals and risk appetite
Pune, Maharashtra: For most of us, a monthly expense list reads somewhat like this – EMIs, rent, utility bills, groceries, child-related expenses, travel expenses etc. With a list of immediate and unavoidable expenses taking up a major chunk of our income, often creating a savings funds takes the back seat. Building savings requires discipline and works best when tied to small financial goals.
For the salaried class, investing a portion of one’s salary in Public Provident Fund (PPF), fixed deposit, real estate or gold has been a top choice of investment for generations. Fixed deposit is a hassle-free investment option offering assured returns at the prevailing interest rate at the time of booking. FD is offered by banks, post offices and also NBFCs like Bajaj Finance Limited (BFL).
The recent repo rate cuts resulted in massive reduction in FD interest rates, offered by banks and post offices. However, for those looking to grow their savings with safety, company FDs like Bajaj Finance Fixed Deposit can be a great choice. Individuals below 60 years of age can get attractive FD interest rates of up to 6.60% with Bajaj Finance FD, with additional rate benefit of 0.10% on investing online. Senior citizens can also reap benefits of 0.25% higher FD rates with Bajaj Finance FD, regardless of their investment mode.
Thus, for investors looking to grow their savings and build their wealth over time, here’s why Bajaj Finance Fixed Deposit can be a great choice:
1. Get the best fixed deposit interest rates
Investors below the age of 60 years, can benefit from high FD interest rates of up to 6.60%. Investors get an additional 0.10% rate bonus on FDs booked via the online mode. The minimum deposit requirement for investing in a Bajaj Finance online FD is Rs. 25,000.
2. Grow savings securely
The most important criteria for consideration for any investor are safety of investment and guarantee of returns. Bajaj Finance FD fulfills both these criteria and it carries the CRISIL’s FAAA rating and ICRA’s MAAA rating, and both these point to stability and credibility. This is a clear indicator for zero capital loss and timely payouts to investors at maturity.
3. Benefit from flexible tenure and payout option
By booking a Bajaj Finance FD, investors can choose a tenure according to their preference ranging from 12 months to 60 months for their investments. In addition, BFL also offers the option of periodic payouts to help fund other expenses. Investors can select monthly, quarterly, half-yearly and annual payouts options for their deposits according to their requirement. Alternatively, investors can save interest until maturity and enjoy compounded growth on their investment.
4. Hassle-free application process
When investing in Bajaj Finance FD, investors have the option of booking FD via its end-to-end online application process. This helps save time and investors can get started without having to step outside their homes. What’s more, there is an additional rate benefit of 0.10% on investing online.
Investors can also plan their investments, by using Bajaj Finance Fixed Deposit Calculator that enables them to know their maturity amount beforehand.
5. Monthly savings with Systematic Deposit Plan
For investors not looking to invest a lumpsum amount at one time, BFL also offers Systematic Deposit Plan (SDP), allowing them to make monthly contributions as low as Rs. 5000.Here they have the option to opt for the:
- Monthly maturity scheme: investors can invest in 6 to 48 deposits, apply a uniform tenure to them all, and get payouts as each deposit matures.
- Single maturity scheme: Investors can invest in an FD each month and receive the total maturity proceeds on a single day. Here the tenure of each deposit will decrease accordingly
With flexible investing options, attractive FD interest rates and host of other benefits and features, investing a portion of one’s salary in the Bajaj Finance FD is the right choice!