The safety and convenience offered by online facilities best meet the requirement of senior citizens, who needn’t risk visiting a crowded branch.
Volatile financial markets and unpredictable economic outlook warrants an investment that can ensure a high degree of safety. Fixed Deposit (FD) has always been a gold standard in this regard. When thinking about investing in a fixed deposit, you may have visualized going through the age-old processes involving multiple visits to branches, long waiting times in queues and filling out endless paperwork.
But, should investing money be this arduous, even during these times of digital ubiquity? Perhaps not, with the latest online FD facilities.
The time taken to lock in to lucrative FD interest rates can be shortened from a few weeks, to just a few minutes, by choosing the online route. In addition to the reduced time-span, Bajaj Finance online FD investment offers the convenience of a contact-less investment from the comfort of your home. The safety and convenience offered by online facilities best meet the requirement of senior citizens, who needn’t risk visiting a crowded branch, and can invest from the safety of their home.
Benefits of availing Bajaj Finance Online Fixed Deposit facilities
Apart from logistical impediments, other benefits of online FD compared to offline investments, makes it the right choice for investors. Let us take a look at some of these benefits.
● High interest rates
When investing in a Fixed Deposit, interest rates are an important metric to track. Issuers like Bajaj Finance offer one of the highest fixed deposit rates of up to 7.10% on their deposits. Also, if you invest in Bajaj Finance online FD, you can earn 0.10% over and above the existing interest rate.
In the below example, we’ve taken an investment amount of Rs. 10,00,000 invested for 5 years, in a Bajaj Finance online FD. Let’s compare the returns for the same, with the same investment amount and tenure, invested offline in a Bajaj Finance FD and a regular FD. The table below details the earnings you can gain, with comparisons with bank FD, as well.
From the above table, you can see how investing Rs. 10,00,000 for 5 years in a Bajaj Finance online FD can yield Rs. 6591 more interest than investing offline. You can gain Rs. 1,01,642 in interest earnings, by choosing to invest in a Bajaj Finance online FD, as compared to any bank FD, where FD interest rates average around 5.50%. With interest rates of up to 7.35%, senior citizens can earn even higher interest, by investing in a Bajaj Finance FD, regardless of the mode of investment.
● Paperless process
Bajaj Finance online FD was offering the paperless online process for existing customers earlier, but now even new customers can avail this benefit easily. With minimal wait time and no need to visit an offline branch, Bajaj Finance online FD eliminates the need for lengthy paperwork. New customers are not required to wait for document submission as instant verification can be done via cKYC repository.
● Online investment tracking and planning
Fixed deposit as an investment, does not require constant monitoring, but for those looking to track their investments, there is no need to visit a branch. When investing in a Bajaj Finance online FD, you can also get your Fixed Deposit details online, and the Fixed Deposit receipt is also mailed to your registered details. Using your details, you can easily track your Fixed Deposit online, without having to visit a branch every time.
Besides, for those planning to determine their returns and plan their investments beforehand, Bajaj Finance FD Interest Calculator can be a great tool. It enables you to enter your preferred investment details and displays the maturity amount, payouts, interest earned and maturity date, before you even invest.
Get guaranteed returns with Bajaj Finance Fixed Deposit
With shifting sands in the financial landscape, trust and safety of your investment are of paramount importance. Bajaj Finance Fixed Deposit is among the highest-rated NBFCs in India, in terms of deposit safety, with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA.
A healthy deposit book worth Rs. 20,805 crores and 2,35,925 unique FD customers are no less than a testament to the company's ability to preserve customers wealth and their trust. Another metric that speaks for itself is the fact that nearly 92,712 FD customers are senior citizens, who’ve been able to grow their savings with this deposit easily. As one of the only deposit-accepting issuers with ‘0 unclaimed deposits’, Bajaj Finance pushes the envelope to ensure that depositors’ money reaches their account immediately, on maturity.
Not only does Bajaj Finance FD come across as a safe and reliable issuer, but also one that has been evolving as per the convenience and requirement of consumers. Along with online FD facilities, Bajaj Finance also offers Systematic Deposit Plan for regular savers, who can now start saving with just Rs. 5000 per month. The company is also accepting deposits from NRIs with an NRO account, which can be a boon in today’s highly volatile global financial markets.
Disclaimer: This content is distributed by Bajaj Finserv. No HT journalist is involved in creation of this content.