Secure Your Childs Education And Future With Bajaj Finance FD
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Secure Your Childs Education And Future With Bajaj Finance FD

  • Highlights

  • FD provides higher returns than savings account

  • Returns are given at intervals

  • Returns can help meet your child’s education

  • Stable returns with Bajaj Finance FD


A child’s education is a major pie of your investment. As per latest research, educating your child from primary school to college would cost Rs. 42 million in the next 22 years. With educational costs increasing ever year at enormous rates, educating children is becoming very expensive.

As a case in point, a four-year engineering course that costs Rs. 8 lakh in 2017 might cost Rs. 30 lakh by 2030. In Delhi, government allowed private schools to increase their fees by 15%. Therefore, if your annual educational costs at school level are Rs. 2 lakh (assuming the child is in class 5), educational expenses would amount to at least Rs. 8 lakh, over the next 10 years in school.

You can use FDs to help absorb the costs towards educating your child. A fixed deposit scheme is a savings option that earns you interest on your

money at intervals that is determined by the payout scheme that you select at the time of the investment. It provides higher returns than the savings account. These returns are fixed and secured.

Investment Options for Child's security

The price of education in India is soaring

A National Sample Survey Organisation report states that from 2008 to 2014, the annual expenditure on providing a single child with basic education grew from Rs. 3,878 to Rs. 6,788—a 175% increase. That roughly works out to a rising cost of 29% every year. It means that today, parents in India are spending anywhere from Rs. 12,000 to Rs. 13,000 annually to get their child educated. Besides college or institution fees, the expenditure list also includes costs like books, transport and coaching.

Sadly, the situation does not get better as you go higher. A two-year course in Indian Institute of Management (IIM) costs a whopping Rs.19.5 lakh. This is a 400% increase from what it was in 2007, which is Rs.4,87,500. By 2025, parents will be paying Rs.96 lakh for the same two-year IIM course. Those aspiring to go to an Indian Institute of Technology (IIT) are faced with the same predicament. Currently, their parents set aside nearly Rs. 90,000 every year. These figures cover only the tuition fee.

All this signifies that in eight years from now, getting a non-specialised graduate level education level for your child will cost roughly Rs. 28,000 a year. This will go up to nearly Rs.1 crore or more for a specialised graduate level course at an IIT or IIM.

Studying abroad is getting dearer

The cost of getting an education in foreign universities is even more phenomenal than back home. Let us explore the figures for getting an undergraduate-level education in the United Kingdom and the United States. In the UK, it starts at Rs.8,40,112 per year, while in the US it hovers in the range of Rs.10,84,438

Why investing early is important

It is not only an education in foreign universities that takes a toll on parents. Regardless of where you study, the costs are escalating. This makes it imperative for you to invest as early as you can to ensure that your child has a secure future.


Bajaj Finance FD can help you secure a bright future for your child. Find out how.

Return on Your Investment

Why settle for a 4% interest rate in your savings account, when you can get much higher returns? Bajaj Finance offers higher interest rate, and senior citizens enjoy an additional 0.35% interest rates.

Additional Read: How To Maximize Your Returns With Bajaj Finance Fixed Deposits?

Tenor

The tenor for Bajaj Finance FDs range from 12- 60 months. You can choose a sum, and tenor that matches with your tuition fees and expenses related to extracurricular activities.

Minimum Deposit of Rs. 25,000

The minimum deposit for Bajaj Finance FDs is Rs. 25,000, which makes it possible for you to start investing right away.

Stable Rating

Bajaj Finance FDs enjoy ICRA’s MAAA (stable) rating and CRISIL’s FAAA/Stable rating. This makes your investments safe.

Flexible Payout Options

There are both cumulative and non-cumulative options available. In the cumulative option, of the Bajaj Finance Fixed Deposit scheme, the interest is payable at the time of maturity along with the principal. It is compounded annually.

Additional Read: Should you choose Bajaj Finance Cumulative or Non-Cumulative FD?

While in Bajaj Finance non-cumulative Fixed Deposit scheme, the interest is paid out at different intervals – monthly, quarterly, half-yearly, or annually. It is ideal for individuals who need to pay the school fees, and other educational costs.

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