Why Should you Ladder your Deposits with a Bajaj Finance FD?
3 min readInvesting in a suitable fixed deposit plan entails several key benefits. Primarily, the deposits are not liable to fluctuate according to volatile market conditions. Your principal amount steadily grows over time, and you enjoy the peace of mind that comes from secured growth.
Reputed Rankings
Bajaj Finance is one of the most reputable companies in the market. The company holds the highest credit scores of CRISIL’s FAAA rating and ICRA’s MAAA ratings. The allocation of these scores depends on the strict evaluation of different stability factors of the financial institution in question.
They also testify to the fact why the company has unique FD accounts from 2,35,000 customers all over India and abroad. Apart from resident Indian citizens, NRIs/PIOs/OCIs can also open an FD account with Bajaj Finance. The total deposit book of Bajaj Finance Fixed Deposit holds over Rs. 20,000 Crore.
Flexibility of Investments
The flexible tenures offer the perfect opportunity for laddering your investments. Depositors can select any tenure between 12 and 60 months as per convenience. The low minimum deposit amount of Rs. 25,000 offers a suitable investment vehicle even with a low investment. The maximum deposit amount is Rs. 5 Crore. NRIs would have to choose from a tenure between 12 and 36 months.
The FD interest rates are among the best in the market. Non-senior citizens can avail of an interest rate of up to 7.00 % depending on the tenure. For the same duration, the company entitles an additional 0.25 % interest rate for senior citizens. Investors can also choose to auto-renew the deposits at the end of the tenure. Ticking the auto-renewal box in the application form makes you eligible for an additional 0.10 % rate benefit.
Flexibility of Payouts
The online fixed deposit calculator of Bajaj Finance is a vital tool for portfolio planning. Select the principal amount, the tenure, and the type of FD. One can select from any of the two types of FDs, according to the payout type. The cumulative type is the usual traditional mode where you receive the interest at the time of maturity.
In the non-cumulative type, investors can opt for different periodic payment plans as per applicable interest rates. You can either choose a monthly payout, half-yearly, quarterly, or annual payments. By using the FD calculator on a suitable non-cumulative plan, you can effectively ladder your investments over time.
Monthly Deposits Possible
Instead of opting for a lump sum principal amount, you can also choose to invest in monthly installments. The minimum monthly installment amount is Rs. 5000. Two options are available in this category. Investors can either choose the Monthly Maturity Scheme or opt for the Single Maturity Scheme. Both options are accessible within the aegis of the Systematic Deposit Plan or SDP.
According to the Monthly Maturity Scheme, your successive deposits would mature at different durations depending on the tenure you select for each of them. The Single Maturity Scheme allows the investor to receive the entire payable amount on a single date. To this effect, you must oblige with a proprietary grid of making regular deposits on a given date.
Convenient Setup
The company also encourages online investment. One can set up the FD account conveniently in the paperless mode. Non-senior citizens can have the benefit of an additional 0.10 % interest rate as a reward for online transactions. Bajaj Finance online FD applications use a highly secured end-to-end encrypted pathway to set up the account.
Additionally, the FD account serves as an excellent backup plan lest there is an urgent cash requirement. You can liquidate the amount anytime after an initial lockdown period of three months. If you want to avert the loss of interest due to premature withdrawal, you can opt for an easy loan instead.
Considering all these aspects, Bajaj Finance offers a viable opportunity to ladder your investments in a risk-free format.
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