Fixed Deposit for Higher Education

Every parent would like to send their children to the best university for higher education in India or abroad. In either case, higher education can get expensive and requires careful financial planning much in advance. Your fixed deposit can easily take care of expenses like tuition, travel, additional coursework, living expenditures, or housing.

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VISAS AND TRAVEL

A significant portion of the costs of attending college is application fees, even more so if you account for the price of the travel expenses, visa fees, and other paperwork required for an international course.

CLASS FEES

Class fee accounts for a significant portion of the higher education. This expense along with any unanticipated cost can be easily taken care of with a fixed deposit.

HOUSING COSTS

Your living expenses go well beyond rent. The costs of groceries, transportation, cellphone, internet, and other products are included in your total outlays. These could cost you a significant sum of money.

SUBJECT MATTER

You could require books, equipment, specialised software, and other materials throughout your course. These costs frequently arise out of the blue and may be incurred whenever needed.

INSURANCE FUND

It is critical to budget for unanticipated circumstances like accidents or illnesses. Insurance cannot always cover all costs, even though it may be helpful in some cases.

How to invest in a fixed deposit?

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A step-by-step guide to invest in a fixed deposit

1. Click on ‘Open FD' at the top of this page to open our online application form.
2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
3. Fill in the investment amount, choose the investment tenure and the payout frequency. Enter your PAN card and date of birth.
4. Complete your KYC: If you are an existing customer, confirm the details available with us, or edit to make any changes. For new customers, complete your KYC using Aadhaar.
5. A declaration will be displayed. Please read it carefully and agree to the terms and conditions. Enter your bank details and proceed to pay.
6. Complete your investment using NetBanking/ UPI or NEFT/ RTGS.

Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) on your registered email address and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will also be sent to your email ID within 3 working days (subject to documents being in the correct order).

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.