Fixed Deposit (FD) is a popular and traditional investment option for individuals and businesses. It is considered a safe investment that provides guaranteed returns on the invested amount. With the advent of digitalization, the process of investing in FD has become more convenient and accessible through online platforms. Online FD platforms offer attractive interest rates, easy investment options, and convenience to manage investments. Bajaj Finance is one such company that provides an easy and hassle-free process for investing in FD online.
What is fixed deposit?
Fixed Deposit (FD) is a popular investment option offered by banks and financial institutions. It involves depositing a specific amount of money for a predetermined period, typically ranging from a few months to several years, at a fixed interest rate. FDs offer higher interest rates compared to regular savings accounts and provide a guaranteed return upon maturity. They are considered low-risk investments as the interest rate remains fixed throughout the tenure, making FDs ideal for individuals looking to grow their savings steadily while preserving capital. FDs also offer flexibility in terms of tenure and interest payout options.
FD Rates
FD rates are the interest rates offered by banks and financial institutions on the invested amount. FD rates depend on the duration of the investment, the amount invested, and the prevailing market conditions. The interest rates offered on FDs are higher than savings accounts.
Bajaj Finance offers attractive interest rates on their online FDs. The interest rates offered are higher than most banks and financial institutions. Bajaj Finance offers one of highest interest rate of up to 8.85% p.a. on their fixed deposit for a tenure of 12 to 60 months. The interest rates offered by Bajaj Finance on their online FDs are also dependent on the category of the investor, i.e., senior citizen or regular investor.
Bajaj Finance provides an easy and convenient process of investing in FDs online. The online platform is user-friendly and can be accessed from anywhere and at any time. One can invest in FD online through the Bajaj Finserv website or the Bajaj Finserv app. The app is available for download on both Android and iOS platforms.
The Bajaj Finserv app provides features such as quick access to the FD account, track the investment, and manage the investments. The app also provides a feature of investing in FD through a single click and access to exclusive offers for digital FD investors. Bajaj Finance offers special offers and benefits for digital FD investors.
Exclusive benefits for digital FD investors: Special offers for initial digital FD investors
Digital FD investors are the ones who invest in FD through the online platform or the app. Bajaj Finance offers exclusive benefits and special offers for digital FD investors. These benefits and offers are designed to encourage and reward early birds who invest in FD online.
The exclusive benefits and special offers are highlighted as follows:
1. Higher interest rates
Bajaj Finance offers higher interest rates on FD investments made through the online platform or the app. As compared to regular FD investors who invest through other modes, digital FD investors are eligible for higher interest rates. The interest rates goes up to 8.85% p.a. for a tenure of 12 to 60 months.
2. Pre-approved offers
Digital FD investors are eligible for pre-approved offers on other financial products and services offered by Bajaj Finance. These offers can be in the form of loans, credit cards, or insurance products. The offers are designed to provide convenience and accessibility to financial products and services.
3. Zero account opening charges
Digital FD investors are eligible for zero account opening charges on FD investments made through the online platform or the app. Regular FD investors have to pay account opening charges to open an FD account. Digital FD investors are exempted from these charges, which provides cost advantage.
4. Faster processing time
FD investments made through the online platform or the app are processed faster than traditional methods. Digital FD investors can complete the investment process in a matter of minutes. Regular FD investors have to wait for the account opening process, which can take up to a few days.
5. Flexible investment options
Bajaj Finance offers flexible investment options for digital FD investors. Investors can choose the tenure of investments and the amount they want to invest. Investors can also choose the frequency of interest payouts, which can be monthly, quarterly, half-yearly, or annually.
6. Easy investment tracking
Digital FD investors can easily track their FD investment through the online platform or the app. Investors can view the invested amount, the interest earned, the tenure of investment, and the maturity date of investment.
7. Early withdrawal
Digital FD investors are eligible for early withdrawal of investments. In case of emergencies, investors can withdraw their investments before the maturity date. Early withdrawal can be subject to penalty charges and lower interest rates, depending on the tenure of investment.
How to invest in Bajaj Finance Digital FD?
Investing in Bajaj Finance Digital FD is a simple process. Follow these simple steps:
- Visit the Bajaj Finserv app or website
- Navigate to the ‘Investments’ section and click on ‘Fixed Deposit’
- 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 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/ RTG
Conclusion
Bajaj Finance offers an easy and convenient way of investing in FD online. The online platform provides attractive interest rates, flexible investment options, and easy investment tracking. Digital FD investors are eligible for exclusive benefits and special offers such as higher interest rates, pre-approved offers, zero account opening charges, and faster processing time. Investing in FD online is a smart and convenient way of managing investments.