As a new year commences, it is essential to prioritize secure investment options that provide a steady and reliable return on investment. Fixed Deposits (FDs) are an excellent choice for risk-averse investors who are looking for low-risk options for investing their savings. Bajaj Finance Digital FDs are a great choice for such investors, with their digital platform and attractive new rates of up to 8.85% per annum. In this article, we’ll discuss why Bajaj Finance FDs are the ideal choice for risk-averse investors.
Low-Risk Investment Option
Investing in FDs is considered a low-risk investment option compared to other avenues such as the stock market or mutual funds. Bajaj Finance FDs are rated as one of the safest in the country, with a credit rating of CRISIL AAA/Stable. This rating means that investments are entirely safe and provide a high degree of safety and reliability.
Digital Process
Bajaj Finance Digital FDs offer a convenient and easy way of investing. Customers can avoid visiting a branch office of the financier to apply for an FD and can apply for the FD through a digital web portal or mobile app from the comfort of their homes. The digital platform is secure and easy to use, making the process hassle-free.
Flexible Investment Periods
Bajaj Finance offers a range of investment periods for its FDs, starting from 12 months and going up to 60 months. This allows investors to choose the period that best suits their financial needs. Long-term investments can also provide benefits such as higher interest rates.
Attractive Interest Rates
Bajaj Finance offers some of the highest interest rates in the market on FDs, with rates up to 8.85% per annum. The rates are only offered on FDs booked online through the digital platform, making it a lucrative opportunity for investors who choose to invest digitally.
Different Payout Options
Bajaj Finance provides multiple options for the payout of returns on the investment. Customers can choose between monthly, quarterly, half-yearly, or yearly payout options, depending on their financial needs. This allows investors more flexibility in managing their finances and choosing the options that best suit their requirements.
Premature Withdrawal and Loan Options
Bajaj Finance allows customers to withdraw their investment prematurely and avail a loan against their FDs at attractive rates. This option can be accessed in case of an emergency or any unexpected financial requirement. The loan option also allows you to fulfil financial goals such as home renovation, children’s education, or any other major expenses.
Easy Investment Options
Bajaj Finance Digital FDs require minimal documentation, and the investment process is hassle-free. Investors need to register on the Bajaj Finance website to access the digital FD option. Once registered, investors can choose the investment period, payout options, and payment mode before completing the investment.
Here’s a step-by-step guide on how to open a Bajaj Finance FD online:
Step 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.
Step 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.
Step 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
Step 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.
Step 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 Fixed Deposit.
The process of investing in a Bajaj Finance Digital FD is quick and hassle-free. By following these steps, you can start earning high returns on your investment in just a few minutes.
Conclusion
Bajaj Finance Digital FDs offer a secure, low-risk investment option that can provide a steady and reliable return on investment to risk-averse investors. The digital platform is user-friendly, allowing customers to apply for an FD from the comfort of their homes. Bajaj Finance FDs offer attractive interest rates, flexible investment periods, and payout options. The FDs also come with options for premature withdrawal and loan against the FD. These features make Bajaj Finance FDs suitable for investors who prioritize stable investments with minimum risk.
The new year brings new investment opportunities, and Bajaj Finance Digital FDs can be a good choice for risk-averse investors. With high interest rates, security, and easy investment options, Bajaj Finance Digital FDs are an ideal investment option in 2021.