Fixed Deposit is one of the most popular investment options in India. It is a secure means of investing your money and provides guaranteed returns. The Fixed Deposit schemes offered by Bajaj Finance are one of the best in the market in terms of interest rates and other benefits. In this article, we will guide you through the process of opening an FD in Bajaj Finance via cheque or NEFT/RTGS payment mode or book an online Fixed Deposit in Bajaj Finance via cheque or NEFT/RTGS at home in just 7 simple steps.
Step 1: Visit the Bajaj Finserv mobile app
The first step to opening an FD with Bajaj Finance is to visit their mobile app. You can download the mobile app from your app store and install it on your device.
Step 2: Select the Fixed Deposit option
Once you have logged in to the app with your 10-digit mobile number, you need to select the FD option. This will take you to a page where you can view the various Fixed Deposit schemes offered by Bajaj Finance.
Step 3: Choose the investment amount and tenure
The next step is to choose the investment amount and tenure for your Fixed Deposit and confirm your KYC details. Bajaj Finance offers attractive interest rates of up to 8.60% p.a. on various investment amounts and tenures. You can choose the one that suits you the best.
Step 4: Select the payment mode
You can make your investment in Fixed Deposit via cheque or NEFT/RTGS payment mode. Select the payment mode that is convenient for you.
Step 5: Fill in the necessary details
After selecting the payment mode, you need to fill in the necessary details, such as your name, address, PAN card details, etc.
Step 6: Submit the cheque or make an NEFT/RTGS payment
If you have selected the cheque option, you need to submit the cheque at the nearest Bajaj Finance branch. If you have selected NEFT/RTGS payment, you need to initiate the payment from your bank account.
Step 7: Receive the Fixed Deposit Acknowledgement (FDA)
Once your investment is processed, you will receive the Fixed Deposit Acknowledgement on your registered email address & as a link on your mobile number. You can keep it safe with you until the maturity of your Fixed Deposit.
Apart from the above-mentioned steps, you can also open a Fixed Deposit in Bajaj Finance via their mobile app. The process is similar to the website method, but it is more convenient as you can do it from the comfort of your home.
Bajaj Finserv app is a one-stop solution for all your financial needs. You can use the app to check your credit score, apply for loans, invest in FDs, track your investments, and much more. The app is user-friendly and offers a seamless experience. You can download the app from your app store and start using it today.
These fixed-income investments offer several benefits to investors. Here are some benefits of Fixed Deposits:
- Guaranteed Returns: One of the most significant advantages of investing in fixed deposits is that they offer guaranteed returns. The rate of interest on FDs is fixed and remains the same throughout the duration of the investment. This ensures that investors receive a predetermined return at the end of the investment period, regardless of market fluctuations.
- Low Risk: Fixed deposits are considered to be one of the safest investment options as they are not subject to market risks. The principal amount invested is secure, and the interest earned is not affected by external factors like inflation or economic conditions.
- Easy to Open and Operate: Opening and operating a fixed deposit account is a simple process. FDs can be opened either online or by visiting a bank or post office. Investors can choose the investment tenure as well as the frequency of interest payouts.
- Higher Interest Rates for Senior Citizens: Many banks and financial institutions offer higher interest rates on fixed deposits to senior citizens. This is an added benefit for older investors who are looking for ways to earn passive income during their retirement years.
- Tax Benefits: Interest earned on fixed deposits is subject to tax deduction at source. However, investors can claim a deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act for investments made in fixed deposits with a tenure of five years or more.
- Loan Against Fixed Deposits: Investors can avail of loans against fixed deposits. The interest rates on such loans are lower than those on unsecured loans and can offer a cost-effective means of raising funds. The loan amount is usually a percentage of the principal amount invested in the FD, and the investor continues to earn interest on the remaining amount.
Fixed Deposit is a reliable investment option, and Bajaj Finance offers some of the best Fixed Deposit schemes in the market. You can open an FD with them via cheque or NEFT/RTGS payment mode or book an online Fixed Deposit in Bajaj Finance via cheque or NEFT/RTGS at home in just 7 simple steps. The Bajaj Finserv app is a useful tool that can help you manage your finances better.
In conclusion, fixed deposits are a popular investment option that offer several benefits to investors. They provide a guaranteed return on investment, are considered low-risk, and are simple to operate. Additionally, senior citizens can benefit from higher interest rates, and investors can claim tax deductions under Section 80C. Fixed deposits can also be used as collateral for loans, providing a cost-effective means of financing. Overall, fixed deposits are an excellent option for anyone seeking a secure and hassle-free investment option with a predictable rate of return. Investing in fixed deposits (FDs) is a wise and secure strategy to increase your savings while limiting risk. It offers a stable opportunity for investors who wish to preserve their capital and earn reliable returns. To begin your path with FDs, you should first assess your financial objectives, compare interest rates, and choose a tenure that meets your needs.
FDs are versatile and suitable for both short and long-term financial goals, ensuring flexibility and peace of mind. By adding FDs to your investment portfolio, you can establish a steady foundation for your financial future. Whether you are saving for a luxurious vacation, a down payment on a home, or securing your retirement, FDs provide a trustworthy method to achieve your ambitions. So, make an informed decision, start investing in FDs, and observe your wealth gradually increase over time.
