Create an Emergency Fund with Bajaj Finance Fixed Deposit
Pune, Maharashtra: Market volatilities and uncertainties having a global impact, have highlighted the need to have an emergency financial back-up. It is advised to have an emergency fund, the amount of which can fund an individual’s basic expenses for the next 6-12 months. This fund can come handy in case of unplanned circumstances or a financial roadblock on one’s professional journey.
Since finances take time to grow, it is best to start setting aside a portion of one’s savings for emergency funds at the earliest. One can use liquid funds to invest in short-term government certificates or securities, savings account, or even step into the mutual fund domain. However, if one’s looking for the dual advantage of safe investments as well as stable growth, fixed deposit is an ideal investment option.
Create an emergency fund with Bajaj Finance online FD
Bajaj Finance is one such financer that offers investors the assurance of guaranteed returns with the highest safety of deposits. Here are the benefits offered by Bajaj Finance Fixed Deposit.
Attractive FD Rates
Bajaj Finance FD offers attractive FD rates up to 6.50%, along with an additional 0.10% benefit for investing online. Senior citizens looking to invest in a Bajaj Finance FD can find greater value with the additional rate benefit of 0.25%.
To understand how one can create an emergency fund with Bajaj Finance FD, consider investing Rs. 20,00,000 as principal amount. Given below is a tabular representation of returns at maturity.
|
Investor Profile |
Investment Amount (Rs.) |
Tenor |
Interest Rate |
Interest Payout (Rs.) |
Maturity Amount (Rs.) |
|
Senior Citizen |
20,00,000 |
36 months |
6.75% |
4,32,953 |
24,32,953 |
|
Non-Senior Citizen (investing online) |
20,00,000 |
36 months |
6.60% |
4,22,711 |
24,22,711 |
|
Non-Senior Citizen (Investing Offline) |
20,00,000 |
36 months |
6.50% |
4,15,899 |
24,15,899 |
One can avail substantial gains at maturity. This maturity amount can be used as a source to fund expenses till a normal cash flow is restored.
Loan against Fixed Deposit
With Bajaj Finance, one can withdraw prematurely from their fixed deposit, during emergencies. While some investors are concerned that this could lead to a loss of interest, Bajaj Finance FD has an option which meets the investors’ cash requirements without breaking their FDs. Bajaj Finance offers an easy to avail Loan against FD, where the investor can avail a loan against their FD up to 75% of the invested amount. The process of facilitating a loan against FD is undertaken with minimal documentation, quick processing and no additional charges.
Highest safety of deposit
This fixed deposit is a great choice for investing one’s earnings, as it offers the highest safety of deposit. This can be verified from the high credit ratings it has received from CRISIL (FAAA) and ICRA (MAAA) which are the leading credit rating agencies in India. Additionally, Bajaj Finance is one of the only NBFCs to have ‘0 unclaimed deposits’, which is again an indicator of timely payments and default-free experience.
Easy online process
One might turn down even a lucrative investment option just because it involves a lot of paperwork and a complex process. However, with the Bajaj Finance online FD one gets the benefit of a contactless and paperless online process. An additional rate benefit of 0.10% is offered to those investing online.
