You can reap the benefit of steady capital appreciation and get the advantages of a safe investment tool with a fixed deposit. A substantial amount of money invested in an FD over a significant tenor can yield a sizable amount on maturity. Moreover, you can invest in this lucrative instrument entirely online and from the comfort of your home. Gone are the days where you needed to be skeptical about investing money online. Today, many choose to go this route, as it is easy and convenient.
As per a CAMS study, millennials prefer the digital option, and around 14% of new investors have started investing online. Here’s how you can invest in a Bajaj Finance FD in a few steps, without leaving the comfort of your home.
Four simple steps to invest in a Bajaj Finance FD
Step 1: Visit the official Bajaj Finance FD website and click on ‘Invest Online’
Step 2: Enter the following information:
- Mobile number
- Date of birth
- PIN code
Step 3: Generate the OTP and complete your mobile verification.
Step 4: Confirm your KYC details and book your new FD online through net banking or UPI
You can start your investment journey online in just a few easy steps. This is an accessible option even for those who aren’t tech-savvy, as the online process is easy to follow.
Here are some reasons why you should consider investing online in a Bajaj Finance Fixed Deposit
High FD interest rates
Bajaj Finance offers high FD interest rates to investors, especially over a longer tenor. Online investors also benefit from an additional rate hike. The base rate for offline FD is 6.75% for senior citizens and 6.50% for others. This interest rate is available on an FD with a minimum tenor of 36 months.
If you book this FD online as a non-senior citizen, you get an additional 0.10% on the base rate. This means that the revised interest rate is 6.60% on your FD of at least 36 months. This improved rate makes a big difference and can earn you several thousands in returns. To understand this better, consider the following example calculated using the fixed deposit calculator.
Here are the maturity proceeds you can expect on an FD of Rs. 10 lakh for 60 months.
|Investor profile||Interest rate||Interest pay-out||Maturity amount|
|Non-senior citizen investing offline||6.50%||Rs. 3,70,087||Rs. 13,70,078|
|Non-senior citizen investing online||6.60%||Rs. 3,76,531||Rs. 13,76,531|
|Senior citizen investing offline or online||6.75%||Rs. 3,86,243||Rs. 13,86,243|
This table shows that an individual investing online over a longer tenor can accrue higher returns at maturity.
Loan against FD facility
Another digital provision you can make use of is the online loan against FD. This comes in handy during emergencies, as you can access funds just as quickly as you invested them. In addition, you can get up to 75% of your FD value as a loan, and you don’t have to disrupt your investment in the process. The online loan against FD is a financial safety net you can rely on while your FD grows undisturbed.
Safety of investment
Bajaj Finance FD has been accredited by CRISIL’s FAAA rating and ICRA’s MAAA rating, both indicative of the highest safety standards for your capital. These markers are strong indicators of the safety of your deposit and hold great value in the investor market.
On consideration of the above factors, you can see that Bajaj Finance FD offers tremendous value while also guaranteeing your money’s safety. With the highest safety standards, guaranteed returns, attractive FD rates, availability of an easy loan against FD and the convenience of operations, Bajaj Finance online Fixed Deposit is the ideal solution if you are looking to find good value for your investment.