Competitive Edge: Bajaj Finance Offers Attractive Interest Rates of up to 8.85% p.a. on their Digital Fixed Deposits
Finding secure and rewarding investment avenues to save and grow your hard-earned money is crucial. Bajaj Finance stands out with its new offering “Digital Fixed Deposit (FD)”, offering an appealing competitive edge through attractive interest rates.
Read More: Federal Bank Hikes Interest Rates On Resident, Non-Resident Deposits
Key Features of Bajaj Finance Fixed Deposits
Attractive Interest Rates: Bajaj Finance offers competitive interest rates of up to 8.85% p.a. on FDs, making them a lucrative choice for those seeking stable returns on their investments. The rates are much higher as compared to traditional savings accounts, providing an excellent opportunity for wealth creation.
Flexible Tenures: Investors can choose a tenure ranging from 12 to 60 months, which aligns with their investment and financial goals. So, whether you are looking for short-term gains or planning for the long term, Bajaj Finance offers tenures that suit diverse investment needs.
Online Application and Management: The digital nature of these FDs eliminates the need for paperwork and branch visits. Investors can conveniently apply for and manage their FDs online, saving time and ensuring a hassle-free experience.
Senior Citizen Benefits: Bajaj Finance recognises the need to accommodate various investor needs. Senior citizens are offered extra perks, such as increased interest rates up to 0.25% p.a. This offers them improved financial stability in their retirement years.
Fun fact: More than 5 lakh depositors have trusted the CRISIL AAA/STABLE and [ICRA]AAA(STABLE) rated Bajaj Finance FD and deposited more than Rs. 50,000 crore in FDs.
Understanding Bajaj Finance Digital FDs
Bajaj Finance, a trusted name in the financial sector, has introduced Digital Fixed Deposit in 2024. Depositors can only opt for the new Digital FD online (through the Bajaj Finserv website and app) and this Digital FD is only applicable on a tenure of 42 months.
It is a combination of reliability of fixed deposits with the convenience of digital transactions. This offers a straightforward way for investors to beat inflation and grow their savings without compromising on safety.
Bajaj Finance Digital FDs vs. Other Investment Avenues:
Higher Returns: Bajaj Finance Digital FDs offer superior returns compared to traditional savings instruments, making them an ideal choice for individuals looking to optimise their savings.
Stability and Predictability: In a volatile market, the stability and predictability of fixed deposits make them a secure haven for risk-averse investors. Bajaj Finance Digital FD combine this stability with competitive interest rates.
Read More: SaveIN launches healthcare services at no-cost EMI for credit card holders
Convenience of Digital Platforms: The digital approach not only streamlines the application process but also allows investors to track and manage their investments from the comfort of their homes.
How to get started?
Investing in Bajaj Finance Digital FD is a straightforward process. Follow these simple steps:
Visit the Bajaj Finance Website or App
Navigate to the Fixed Deposit section
Click on ‘Open FD’ at the top of the page to open the online application form.
Enter your 10-digit mobile number and verify the OTP sent to your phone.
Fill in the investment amount, choose the investment tenure and the payout frequency. Enter your PAN card and date of birth.
Complete your KYC: If you are an existing customer, confirm the details available with us, or edit to make any changes. For new customers, complete your KYC using Aadhaar Card.
A declaration will be displayed. Please read it carefully and agree to the terms and conditions. Enter your bank details and proceed to pay.
Complete your investment using Net Banking/ UPI or NEFT/ RTGS.
Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) on your registered email address and as a link on your mobile number.
Factors to consider
Before investing into Bajaj Finance Digital FD, consider the following factors:
Financial Goals: Clearly define your financial objectives and the role of fixed deposit in achieving them. Bajaj Finance offers tenures catering to short-term and long-term goals.
Risk Tolerance: Assess your risk tolerance to ensure that fixed deposit align with your investment profile. While FDs are low risk, understanding your comfort level is essential.
Tenure Selection: Choose the tenure wisely based on your liquidity needs and the duration for which you can comfortably lock in your funds.
Read More: Senior citizen fixed deposits offering up to 9.1% interest rates
Conclusion
Bajaj Finance’s Digital FD with their attractive interest rates emerge as a compelling choice when it comes to fixed-income investments. Combining stability, security, and convenience.
Whether you are an experienced investor, a newcomer, or just exploring new investment options, Bajaj Finance Digital FD is a smart choice for a secure and rewarding financial future.
