How Bajaj Finance Fixed Deposit can be a Smart Choice for Savvy Investors

As we progress through life, securing our future becomes paramount. Investing our funds wisely is key to achieving this goal. In India, fixed deposit (FD) schemes stand out as a popular choice, providing a safe avenue for wealth growth. Known for their reliability, FDs offer guaranteed returns. Bajaj Finance, a trusted NBFC in India, introduces a new type of FD named "Digital Fixed Deposit", offered at a tenure of 42 months.

Bajaj Finance Digital FD is a new-age investment option that focuses on providing digital convenience and flexibility to investors. This FD can only be booked and managed online, through the Bajaj Finserv website and app, making it accessible to investors regardless of their geographical location.

The Digital FD offers one of the highest interest rates in the market of up to 8.85% p.a. for senior citizens and up to 8.60% p.a. for customers below the age of 60. This high-interest rate helps investors earn inflation beating returns on their investment.

Types of FD

Bajaj Finance offers different types of FD options, here’s a bit more about them:

• Cumulative FD: In a cumulative FD, the interest earned on the deposit is reinvested periodically, along with the principal amount. This means that at the time of maturity, the investor receives the cumulated interest along with a principal amount. Cumulative FDs are generally suitable for long terms investors, who want to build long term wealth.
• Non-cumulative FD: Non-cumulative FDs offer periodic interest payouts. The investor can choose the payout frequency, such as monthly, quarterly, half yearly or annually, to receive the interest earned on their deposit. Non-cumulative FDs are suitable for those looking for a regular income.

Here is the table showing how much interest you can earn by investing Rs. 5 lakh in Bajaj Finance Digital FD

Why should you consider Bajaj Finance Fixed Deposits?

Bajaj Finance Fixed Deposits hold AAA ratings from esteemed financial agencies such as CRISIL and ICRA, marking the highest safety rating attainable in the nation. This top-tier rating ensures a remarkable level of safety and security for investors. It's no surprise that over 5 lakh customers have placed their trust in Bajaj Finance, entrusting them with deposits exceeding Rs. 50,000 crore.

How to invest in Bajaj Finance Fixed Deposit?

• Visit Bajaj Finserv mobile or app
• Go to investment section and click on Fixed Deposit
• Navigate to the top of this page and click on 'Open FD’
• Enter your 10-digit mobile number and verify the OTP sent to your mobile number
• Provide all the details like investment amount, investment tenure and payout frequency. Enter your PAN card details and date of birth
• Fulfill your KYC requirements: For existing customers, verify the existing details or make any changes. New customers can complete KYC using Aadhaar
• A declaration will be displayed on the screen, review it carefully and agree to the terms and conditions. Enter your bank details and proceed to make the payment
• Complete your investment using Net Banking/ UPI or NEFT/RTGS for the transaction

Documents required to open a Bajaj Finance Fixed Deposit

PAN card,

Any KYC document (Aadhaar card/ Passport/ Driving license/ Voter ID)

Conclusion

Bajaj Finance Fixed Deposits are a smart choice for investors seeking safe and lucrative investment opportunities. With its good-interest rates, hassle-free application process, and highest safety ratings, Bajaj Finance FDs are a reliable option for investors.

Choosing the right investment option is crucial for maximising your returns and minimising risk, and Bajaj Finance Digital Fixed Deposit is undoubtedly a wise choice for any investor looking to grow their wealth.

Remember, making informed choices today can lead to a financially stable tomorrow.