According to a survey conducted by SEBI, about 95% of Indian families prefer parking their savings in Fixed Deposits (FD) over mutual funds. This is mainly because investing in this scheme does not involve market risks and ensures guaranteed returns. Furthermore, selecting Bajaj Finance as an investment partner ensures higher returns. Here are some reasons why individuals prefer FD as their investment instrument of choice.
Why should investors open fixed deposits with Bajaj Finance
Some of the reasons why investors must park their funds in FDs with Bajaj Finance are as follows:
Extensive returns: Investing money in FDs with Bajaj Finance can provide returns of up to 8.20% p.a. for about 44 months. Furthermore, investors have the flexibility of dividing their investments into different FD accounts with variable tenures like 15, 18, 22, 30, 33, 39, and 44 months. This helps them to get access to higher FD rates and compounded returns on their investment.
Flexibility in interest payout: Several investors prefer customised returns from their deposits along with higher returns. They have the flexibility of receiving a lump sum payout at the end of the tenure. Alternatively, they can also opt for monthly, quarterly, half-yearly, or annual payouts as per their convenience to serve as an additional source of income.
Complete online processing: Considering the busy schedule of people today, the entire process of investing in FD with Bajaj Finance has become completely online and can be done with just a few clicks. This end-to-end paperless process saves time otherwise spent on visiting the offline branches.
To top these benefits, Bajaj Finance offers a dedicated customer support portal named ‘My Account’ to help investors manage their FDs online. They can log in any time with their credentials to monitor the returns and make additional investments. Furthermore, they can also download crucial documents from this portal, if required.
Can investors meet emergency funding requirements with a Bajaj Finance FD
Bajaj Finance offers the flexibility of applying for a loan against fixed deposits to meet emergency financing needs. One can apply for a credit of up to 75% of the invested amount in cumulative FDs. However, in case of non-cumulative FDs, individuals can apply for loans of up to 60% of their invested amount.
What to do before investing in an FD
Bajaj Finance offers an online FD calculator that individuals must use to efficiently plan their investments. One can input the investment amount, pick a preferred tenure, and select the payout mode from the available options. This way, investors can compare the interest rates and maturity amounts for different investment amounts even before investing.
Is it complicated to open a Bajaj Finance FD online
To invest in a Bajaj Finance Fixed Deposit scheme online, there are some basic steps to follow. These are quite easy and saves valuable time.
Navigate to the ‘Fixed Deposit’ page on the official website and fill up an online application form.
Carefully enter the KYC and bank details before completing the payment using NEFT/RTGS or Net Banking/UPI, to begin the investment journey.
Who are eligible to invest in fixed deposits with Bajaj Finance
Citizens of India, partnership firms, Hindu Undivided Families (HUFs), sole proprietorships, family trusts, clubs, societies, and associations are eligible for opening a fixed deposit account with Bajaj Finance.
Furthermore, while investing in a fixed deposit scheme, individuals must have their PAN card and KYC documents like voter’s ID card, driving licence, passport, and Aadhaar card to complete the process.
Can investors renew their FD scheme with Bajaj Finance
Investors can renew their investments even before 24 hours of maturity to get the latest FD interest rates. For this, they will need to log in to their portal and visit the Fixed Deposit renewal page. They can make the appropriate selections and choose the tenure and payout frequency to complete the renewal process.
Bajaj Finance has also received CRISIL AAA/STABLE and [ICRA]AAA(Stable) ratings that ensure complete security of the FD investments made by customers. As such, investing in a fixed deposit scheme with Bajaj Finance deems to be one of the best options in the market. It helps investors unlock dual benefits of safeguarding their savings from market volatility and earning attractive returns with flexible payouts option in just a few clicks.
