Creating a sufficient corpus for your child’s higher education will take years of planning and effort. You would want to invest in a risk-free option that is secure from the ups and downs of the equity market and the uncertainties associated most of the investment options. You would not want to take a chance when it comes to your child.
Most people opt for fixed deposits (FD). An FD carries a far lower risk and offers decent returns on your investment. It also allows you to pursue longer term investment options by allowing you to invest for up to 60 months and renewing it for another 60.
Omkar ji’s son Sudhan recently went to the USA for his undergraduate studies. Just the first year’s fee was Rs. 45 lakh. Omkar ji had started planning for this day ten years in advance. He started his first FD in 2012 of Rs. 2 lakh. In 2014, he added FD of Rs. 5 lakhs followed by another one in 2017. All this while, he kept renewing his previous FDs while starting the new ones. When the day came Omkar ji and his family were rejoicing rather carrying the burden of how to arrange for the funds.
Just like Omkar ji, Mr. Deo started his smart investment when his daughter turned 12. He wanted to set aside a corpus for Geetanjali’s high school. He was keen that she should go one of the leading world schools in India. Mr. Deo started small with Rs. 1 lakh and added another one of Rs. 10 lakh three years later.
Mr. Deo and Omkar ji did not have to worry about the market crash of 2012 and 2020. Their investments were safe and life goals were intact.
Bajaj Finance Fixed Deposits come with the highest ratings. We have been rated CRISIL AAA/STABLE and [ICRA]AAA(Stable). Both CRISIL and ICRA are credit rating agencies assign corporate performance ratings, governance ratings and gradings to financial institutions. Getting a higher rating from these agencies year by year means your investments are safe.
We have introduced 3 unique variants to take care of your investment objectives:
a. Systematic Deposits Plan- Single Maturity Scheme (SMS)
For customers interested in making regular deposits, we have developed a unique deposit plan known as a Systematic Deposit Plan (SDP). You can put as little as Rs. 5,000 into an SDP each month for a specified period of time (19 to 60 months). You get the principal and interest upon maturity under the Single Maturity Scheme (SMS). The interest on each new deposit is computed based on the current interest rates in the deposit month.
Invest in Systematic Deposit Plan
b. Systematic deposit Plan- Monthly Maturity Scheme (MMS)
For customers interested in making regular deposits, we have developed a unique deposit plan known as a Systematic Deposit Plan (SDP). You can put as little as Rs. 5,000 into an SDP each month for a specified period (12 to 60 months). You receive the principal at maturity and monthly interest payments under the Monthly Maturity Scheme (MMS). The interest on each new deposit is computed based on the current interest rates in the deposit month.
Invest in Systematic Deposit Plan
c. Term Deposit.
We provide term deposits, also known as fixed deposits, beginning at Rs. 15,000. You can choose from a number of tenures, ranging from 12 months to 60 months, when opening a fixed deposit online. We occasionally provide special tenure with higher interest rates. You invest a specific amount for a fixed period in our fixed deposit, and you get interest either at maturity or at a predetermined frequency.
Why Invest in Fixed Deposit for Children?
There are many reasons why you might want to invest in a fixed deposit for your child. Here are a few of the most common reasons:
To save for their future. A fixed deposit can be a great way to save for your child's future education, marriage, or other expenses.
To earn a profitable returns. A fixed deposit is a low-risk investment, which means that you can be fairly certain that you will earn a guaranteed return on your investment.
To teach your child about financial responsibility. By investing in a fixed deposit for your child, you can teach them about the importance of saving and investing money.
If you are considering investing in a fixed deposit for your child, there are a few things you should keep in mind. First, you need to decide how much money you want to invest and for how long. You can visit the Bajaj Finance website or app and start the process of opening a fixed deposit account.