Fixed deposit is a high interest-yielding investment scheme offered by various financial institutions in India. It is one of the most popular and best investment options for people who want a low-risk option to grow their wealth. The interest rate is independent of the market fluctuations and is fixed at the time of deposit, which allows the investor to gain a significant return after the policy matures.
Various private and government-backed financial institutions offer attractive fixed deposit interest rates depending on the tenor. For example, Bajaj Finserv offers FDs at lucrative interests, which are higher for senior citizens. The scheme also has various features and benefits like easy online application and account management. One can easily invest in a Bajaj Finance Fixed Deposit by going through these easy steps –
- Fill the online application form available at the official website and deposit the money via net banking, cheque, or NEFT.
- After it is complete, save the filled-out form and take a printout of the Bajaj Finance FD application for later submission.
- Collect the necessary documents including the KYC papers for submission. You will have to sign the application form and affix a recent picture on it before submitting.
- Submit the required documents along with a CTS compliant cheque to book your FD.
Once the documents are received and verified, your FD account will be opened. You can check the online FD calculator to determine the best investment tenor against the provided interest rate.
Eligibility criteria for a Bajaj Finance Fixed Deposit
To be eligible for a fixed deposit, the applicant has to be any one of the following –
- A resident of India
- Hindu Undivided Family
- Family trust
- Sole proprietorships, companies, group companies, and partnership firms
- Clubs, societies, and associations
It also requires a few essential documents for FD like KYC papers, identity proof, proof of address, latest photograph, etc. However, some documents may vary according to the type of applicant. For example, private or public limited companies and partnership firms have to provide a certificate of registration, partnership deed, ID proofs of authorised signatories, etc. Whereas a Hindu Undivided Family will have to provide with deed of declaration of HUF, DEMAT statement in the name of the HUF, and KYC documents of all adult members of the family.
Benefits offered by a Bajaj Finance Fixed Deposit
- Attractive interest rate – You will get an attractive 8.75% interest rate on FD. Senior citizens can get an additional 0.35% interest rate over the provided norm which can go up to 9.10%. This will help accumulate a substantial fund for the future.
- Affordable minimum deposit – The minimum deposit amount for a Bajaj Finance FD is only Rs. 25,000. You can easily invest in the savings scheme without worries about collecting a large corpus.
- Security – The fixed deposit scheme from this NBFC is assessed by ICRA and CRISIL, getting a high rating on safety and security.
- Various online tools – You can use the fixed deposit calculator to choose an appropriate tenor and deposit amount to earn the best return when your policy matures. You can also manage your account online and apply for an FD via their website. It makes the entire process hassle-free and streamlined.
- Flexible tenor – As an investor, you can choose tenor between 12 and 60 months depending on your financial needs. A flexible tenor allows you to maximise your return. Bajaj Finserv also brings a 15 month special tenor for fixed deposits that offer 0.25% more interest than a 12 month FD.
- Loan against FD – You can avail a secured loan against your fixed deposit if you need financial support. It can help you tackle unforeseen emergencies without liquidating your fixed deposit. Bajaj Finserv offers loans up to 75% of the amount of your FD.
You can also take a personal loan from the lender if you require high financing. Bajaj Finserv brings you pre-approved offers for personal loans, home loans, business loans, and a range of other financial products. Such offers help you save time by simplifying the process of availing finance. You only have to provide some necessary details online to check your pre-approved offer.
With a hassle-free application process, minimum documentation, and range of features and benefits, Bajaj Finance Fixed Deposit offers one of the best investment options in the Indian financial market. You can enjoy a guaranteed return and grow your savings without any risks involved.