High and Assured returns on your Fixed Deposit with Bajaj Finance
NBFC trusted with over 1.4 Million Deposits
As we begin a brand new year, we’re often encouraged to look at different ways to make our money work harder for us. Investment opportunities, savings accounts, and various other financial vehicles present themselves at every turn. However, one option that often gets overlooked is the humble fixed deposit (FD). In this article, we’re going to explore how Bajaj Finance is changing the game with their high and secure returns on fixed deposits, and how you could benefit from this fantastic investment opportunity.
Bajaj Finance Offers High and Secure Returns
Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, has recently launched its new increased rates, offering up to 8.85% interest on fixed deposits. This has come as welcome news to many investors, especially those seeking a comparatively stable and secure option. Fixed deposits (also known as term deposits) are generally considered a safe bet to a certain extent as the interest rate remains fixed most of the time, providing a comparatively secure return on investment. Bajaj Finance’s FDs are no exception to this, with returns of up to 8.85% p.a. being offered. This is far more than is currently being offered by many other fixed deposit schemes available on the market.
Bajaj Finance has a history of being reliable and trustworthy when it comes to investments and lending. The company has over 1.4 million fixed deposits and ranks as one of India’s most prominent non-banking financial companies (NBFCs). If you’re seeking a safe, reliable, and profitable investment for your money, then Bajaj Finance’s fixed deposit scheme is worth considering. The company’s long-standing reputation and impressive track record mean that investors can trust their money with them.
Investors Can Benefit From Bajaj Finserv App
With Bajaj Finance’s fixed deposit scheme, investors can enjoy long-term benefits. However, the company is also looking to enhance the experience of investing in their FD scheme. The recent launch of the Bajaj Finserv app has made it even easier to invest in the FDs. This app can be downloaded onto your smartphone, and with just a few clicks, you’re all set to invest your money.
The Bajaj Finserv app offers an intuitive and user-friendly platform for making investments. You can view investment options, with the in-built fixed deposit calculator, you can calculate returns, and track your investment history, all from the convenience of your phone. Investing through the app is also more secure than investing through other channels such as email or text, which often come with security risks. The app also offers a range of other investment options, including mutual funds, equity shares, and insurance policies.
FD Interest Rates & ROI
Fixed deposits are a popular investment vehicle among investors who want to keep their money safe and secure while earning a fixed return on their investment. With Bajaj Finance’s new increased interest rates, investors can enjoy interest rates of up to 8.85% p.a. These returns are higher than other fixed deposit schemes available in the market, such as bank deposits, which typically offer returns of around 5-6% p.a.
To understand the potential returns from Bajaj Finance’s fixed deposit schemes better, let’s take an example. Suppose you invest Rs. 1 lakh in an FD for three years at an interest rate of 8.5%. Here’s how the returns will compound:
Year 1: Rs. 108.5k
Year 2: Rs. 118.1k
Year 3: Rs. 128k
In total, you will receive Rs. 28,000 as interest on your investment of one lakh rupees. This is a substantial amount that can help you build your savings or reinvest to earn even more profits. Although the interest rate offered to you will vary based on the amount invested, tenure and age.
In addition to the returns gained from your investment, the fixed deposit investment can have other benefits too. Bajaj Finance offers a range of flexible tenures, so you can choose the length of your investment according to your needs. Investors can also choose to receive regular interest payments or allow the interest to accumulate in the FD account until the maturity date. On maturity, the interest and the principal amount can either be reinvested or credited back to the investor’s bank account.
You can book an FD in the below steps:
1) Download the Bajaj Finserv app from the Play Store/ App store
To open a Bajaj Finance Digital FD, you need to first visit the website or simply download the Bajaj Finserv app. If you’re a new customer, you’ll need to register on the mobile app with your 10 digit mobile number. Once you’ve entered your details, click on “Proceed”. Enter the OTP received on your number and click on proceed. You can set your 4-digit MPin for a seamless log in experience to the app.
2) Select the Digital FD option
Once you’ve logged in on the app, go to the ‘Investment’ section and select the “Digital Fixed Deposit” option. You’ll then be shown the benefits of Digital FD. Click on ‘Open FD’ to enter the amount you wish to invest and the preferred tenure (duration of the investment). Bajaj Finance offers tenor options ranging from 12 months to 60 months. Experience higher interest rates of up to 8.85% p.a. on selection of tenure of 42 months on your chosen amount.
You can also opt for different pay out frequencies (monthly, quarterly, half-yearly, or yearly) depending on your financial needs.
3) KYC (Know Your Customer) process
Once you’ve completed the payment process, you’ll need to complete the KYC process. Enter your personal details, residential details, Occupation details with your Aadhar Card/Pan Card
4) Choose the payment method
After selecting your investment amount and tenor, you’ll be prompted to choose a payment method. Bajaj Finance accepts payments through net banking, debit cards, NEFT, and mobile wallets. Choose the payment method that is most convenient for you and follow the instructions to complete the payment.
You can complete the KYC process online by providing your basic details like name, address, and PAN (Permanent Account Number) and uploading scanned copies of your ID proof and address proof. Once you’ve completed the KYC process, your account will be activated, and you can start investing in the Digital FD.
5) Track your investment
Once you’ve opened a Bajaj Finance Digital FD, you can track your investment through the Bajaj Finance website or app. You can track your investment details like the amount invested, the interest rate, the tenor, and the maturity date. You can also download your account statement and receive email alerts for all transactions related to your FD.
The Bottom Line
Bajaj Finance’s fixed deposit scheme offers investors a safe, secure, and profitable option for their investments. The company’s reputation for reliability and trustworthiness, coupled with the recent launch of the Bajaj Finserv app, make it easier than ever to invest in their schemes. With highly competitive interest rates on offer, investors can be sure that their savings will grow at a steady pace. Remember, the longer you invest in an FD, the greater your profits will be. So, why not take a step towards financial well-being and invest in Bajaj Finance’s fixed deposit scheme today!