Systematic Deposit Plan is an industry-first monthly savings plan for regular savers
Ladder your deposits easily with Systematic Deposit Plan
Systematic Deposit Plan can help you grow retirement savings
Fill a form to save and earn steadily
When it comes to intelligently managing your personal finances, common approaches include putting a significant percentage of your income into savings and investments like fixed deposits. For young earners, the option to save is easily achievable, but making the minimum deposit can be a tough ask.
Conversely, for those with experience, intelligent financial management means identifying instruments that complement both short- and long-term goals efficiently. Thankfully, with the Systematic Deposit Plan (SDP) by Bajaj Finance, you enjoy the reliable yield of a fixed deposit even as you save on a monthly basis.
Read along to know more about how different savers can maximise their savings with Systematic Deposit Plan.
It can be tough for a first-jobber with a limited earning capability to consistently contribute to savings and also accommodate investments. However, with Systematic Deposit Plan, you can do both efficiently, and in a budget-friendly way.
With a minimum monthly deposit of just Rs. 5,000, you can sign up for SDP, make your first deposit with a cheque and automate future deposits with NACH mandate. All in all, you can grow your savings at a rate of up to 8.05%* through a total of 6 to 48 deposits.
If you’re a more experienced investor, you can use SDPs to build your savings in a staggered manner. Here, every deposit creates a new deposit that you can align to your financial goals. You can choose from a tenor ranging between 12 and 60 months and ladder your deposits efficiently as per your needs. You can make payments on the 3rd, 7th or 12th of every month; however, do note that once this date is fixed, it applies to all remaining deposits.
As a senior citizen, Systematic Deposit Plan can help you enhance your retirement savings, in portions, steadily and reliably. Here, your money is invested in a Bajaj Finance FD, an asset that has secured both ICRA’s ‘MAAA’ and CRISIL’s ‘FAAA’ ratings for stability and credibility. This means your money is secure, you’re assured earnings at a rate of up to 8.05%*, and you get liquidity every month once the first FD matures.
For a better picture, consider the following table.
Type of customer | Deposit amount per month (in Rs.) | Deposit tenor(in months) | Number of deposits | Interest earned on each deposit (in Rs.) | Total interest earned (in Rs.) | Monthly payout (in Rs.) | Total payout (in Rs.) |
---|---|---|---|---|---|---|---|
Senior citizen | 15,000 | 12 | 12 | 1,178 | 14,136 | 16,178 | 1,94,136 |
Senior citizen | 25,000 | 12 | 12 | 1,963 | 23,556 | 26,963 | 3,23,556 |
Senior citizen | 50,000 | 12 | 12 | 3,925 | 47,100 | 53,925 | 6,47,100 |
If your needs match those of these 3 customer types then, simply fill the online application form to setup your SDP without delay to grow your savings in a stable and lucrative manner!