Features of Systematic Deposit Plan

  • Get secured returns

    Get secured returns up to 7.45% p.a.

    Grow your savings with the best returns on your deposit.

  • Up to %$$FDscFDextrarate$$% higher interest rate for senior citizens

    Up to 0.25% p.a. higher interest rate for senior citizens

    Manage post-retirement expenses easily with higher returns.

  • Receive monthly payouts

    Receive monthly payouts

    Get higher returns on your investments by staying invested for a longer tenor.

  • Deposits starting at Rs.5,000 per month

    Deposits starting at Rs. 5,000 per month

    Stay invested for a longer tenor and earn higher returns on your deposit.

Investing in fixed deposits requires an investment of a lump sum amount. However, a Systematic Deposit Plan (SDP) is a great investment tool for investors looking for stable monthly savings options. One can deposit a fixed amount regularly to create a corpus over time.

By setting aside an amount each month in SDP, you can build your savings in a disciplined manner over time. You can save with small monthly deposits, choosing options that suit you best. SDP offers two variants – Monthly Maturity Scheme and Single Maturity Scheme.

With the Monthly Maturity Scheme, the tenor you choose gets applied to all the deposits you invest in. The maturity date for each deposit is different, as your deposits mature as per the selected tenor.

On the other hand, you can receive maturity proceeds of all your deposits on a single day with the Single Maturity Scheme. The tenor of each deposit placed after the first deposit will gradually reduce, so all your deposits mature on a single date.

*Conditions apply

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Systematic Deposit Plan eligibility criteria

  • Resident Indian citizen

    Resident Indian citizen

    Individuals must be above 18 years of age to invest.

Saving with the Systematic Deposit Plan (SDP) is quick and easy. Any resident Indian citizen above the age of 18 years can start investing in a Systematic Deposit Plan with just Rs. 5,000 per month.

Systematic Deposit Plan interest rates

Know the latest interest rates applicable on your deposit.

Systematic Deposit Plan rate of interest for deposits starting at Rs. 5,000
 up to Rs.5 crore (w.e.f May 10, 2022)

 

Tenor in months

Rate of interest

For depositors below 60 years

For Senior citizen

12 – 23

5.75% p.a.

6.00% p.a.

24 – 35

6.40% p.a.

6.65% p.a.

36 – 60

7.00% p.a.

7.25% p.a.


Special interest rate for Systematic Deposit Plan

 

Period

Cumulative

At Maturity (% p.a.)

15 months

6.00% p.a.

18 months

6.10% p.a.

22 months

6.25% p.a.

30 months

6.50% p.a.

33 months

6.75% p.a.

44 months

7.20% p.a.


Rate benefits basis customer category (w.e.f May 10, 2022)

  • Additional rate benefits up to 0.25% p.a. for senior citizens

How to save with a Systematic Deposit Plan

Here is a detailed guide on saving with a Systematic Deposit Plan:

  1. 1 Click on ‘Invest Online’ to visit our online form
  2. 2 Enter your phone number, date of birth and request OTP to continue
  3. 3 Details of Bajaj Finance existing customers will be filled automatically, and you will have to verify the same
  4. 4 New customers will have to complete a quick KYC process and verify the details
  5. 5 Enter the amount you want to save, along with your preferred tenor and number of deposits
  6. 6 Add your nominee details and choose the option to register for NACH mandate so that your deposit amount is automatically deducted from your bank account each month
  7. 7 Pay through net banking or UPI*, as per your convenience

*You can choose the UPI option only for an investment amount of less than Rs. 1 lakh.

Disclaimer

Exciting Update! Bajaj Finance Fixed Deposit rates are revised upwards w.e.f May 10, 2022. Now start investing and enjoy higher returns of up to 7.45% p.a. T&C apply. To check the latest Fixed Deposit interest rates, click here

Frequently asked questions

Is there a penalty if I do not have money to pay the monthly deposit in my account?

No. Bajaj Finance will levy no bounce charges if the depositor misses their monthly deposit. The depositor's bank may impose bounce charges for NACH dishonour. In that case, BFL will not be held responsible.

Is a joint deposit possible?

A joint deposit account can be opened under the Systematic Deposit Plan. It will follow the same guidelines as regular Bajaj Finance Fixed Deposits.

Will I get receipts for all deposits?

Yes, you will be issued a separate fixed deposit receipt for each deposit in line with the existing policy.

Is the auto-renew facility available?

The auto-renewal option is not available for deposits through the Systematic Deposit Plan. A new renewal form must be filled and submitted to renew every deposit.

Can I stop the Systematic Deposit Plan anytime I want?

Yes, in case you feel the need, you can cancel your NACH Mandate anytime in between and stop the Systematic Deposit payment.

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