Out of the plethora of investment options available, women tend to prioritise the ones that offer security alongside generous returns. In fact, as per a Scripbox survey, 58% of women surveyed choose to park their finances in fixed deposit, savings accounts and Public Provident Fundsover market-dependent instruments.
However, PPFs involve long lock-in periods and savings accounts offer meagre returns, making FDs the perfect wealth creation option to meet short- and medium-term goals. Moreover, when you invest in a company FD like the Bajaj Finance Fixed Deposit, you assure yourself of steady financial growth at market-leading interest rates.
Read on to know why the Bajaj Finance FD should be part of a woman’s investment portfolio.
Avail assured returns backed by high stability ratings
Bajaj Finance is the only Indian NBFC to hold the international ‘BBB’ credit rating from S&P Global. Further, its FD carries the CRISIL FAAA and ICRA MAAA ratings, the highest in their respective categories. These ratings speak for the stability of the instrument, a factor which is crucial when dealing with a shaky market and an underperforming economy.
Hand in hand with a safe environment, Bajaj Finance promises generous yields, courtesy of FD interest rates that run up to up to 8.05% for senior citizens, 7.90% for existing customers, and 7.80% for new customers. Combined, safety and returns ensure that your portfolio helps you work towards and achieve your financial goals.
The table below shows the returns the different you can obtain by investing a sum of Rs.40 lakh for a 48-month tenor.
Customer Type | Interest (%) | Interest earned (Rs.) | Total Maturity amount (Rs.) |
New Customer | 7.80 | 14,01,757 | 54,01,757 |
Senior Citizen | 8.05 | 14,52,041 | 54,52,041 |
Existing customer | 7.90 | 14,21,828 | 54,21,828 |
enefit from the current interest rate offerings
When investing, timing is key and when it comes to fixed deposits, keeping an eye on the RBI’s monetary policies will help you make a sound decision. Recently, with the intent to moderate borrowing costsand revive the country’s faltering economy, the RBI announced that it would carry out Long Term Repo Operation (LTRO). This move would keep short-term interest rates pegged near to the RBI’s repo rate. The consequence is that borrowing becomes more affordable; however, you can also expect FD interest rates to go down as well.
Further, while the Monetary Policy Committee did not bring down the repo rate in February 2020, experts point to a possible 25bps cut in June. When you put all these factors into perspective, the value of investing now, without delay, stands out as you currently earn at attractive interest rates since FD rates go down when the repo rate dips.
Meet your goals with a flexible tenor
Women tend to be risk-averse and as per a study, over 1 in 3 respondents conceded that building an emergency fund was a top priority. Others, within the range of 26-28%, said that their children’s education and their retirement corpus were goals of importance. Thankfully, with the provision of a flexible tenor offered by the Bajaj Finance FD, ranging between 12 and 60 months, you can achieve timely liquidity, irrespective of what your goal is. You can strategize your investment by accurately forecasting your returns with the FD calculator. Do remember that with Bajaj Finance, FD interest rates peak when the tenor is at least 48 months.
Grow your wealth through value-added options
When you add the Bajaj Finance FD to your portfolio, you have multiple options at your disposal. If you have long-term goals, like a child’s marriage in mind, you can opt for FD Auto-renewal at the time of opening your FD. This ensures that you are invested for a longer tenor, automatically, and makes you eligible for renewal bonuses. Likewise, if you have multiple goals lined up on the horizon you can plan for them all in one go by availing the Multi-deposit facility. Here, you can invest in several FDs of varying tenors using just one cheque. Bajaj Finance also offers you a route out of a financial crunch, since you can obtain an online loan against your FD, of up to Rs.4 lakh.
Invest on a monthly basis with a Systematic Deposit Plan
If you are a young professional and a rookie in the investment world, you needn’t hesitate when it comes to investing. Instead, you can boost your savings by starting a Systematic Deposit Plan today. Through such a plan, you make contributions of Rs.5,000 or more on a monthly basis. You can make between 6 and 48 contributions, and each of them creates a new FD, which earns interest at the rate prevalent on the date of deposit. This budget-friendly means allows you to inculcate the habit of investing, while growing your finances through a stable instrument.
Becoming an active investor is a must if you are to meet your goals without worry. Start today by investing in a Bajaj Finance online FD. Simply fill out this simple form to authorise a Bajaj Finance representative to get in touch with you and get started towards financial security today!
Disclaimer: This content is distributed by Bajaj Finserv. No TNIE Group journalist is involved in the creation of this content.