Fixed Deposit Income App

Understand how fixed deposit can help you book and track your FD investment.
Fixed Deposit Income App
3 min
30-March-2024

Fixed deposits are a safe way to grow your savings with guaranteed returns. Fixed deposit income apps make it simple to open an FD, manage your investments, and track your earnings all from your phone.

Understanding fixed deposit

A fixed deposit allows you to deposit a lump sum of money with a financial institution for a specific period. In exchange, you earn a fixed interest throughout your chosen tenure. Upon maturity, you receive your principal amount along with the accumulated interest. FDs are considered a low-risk investment, making them attractive for risk-averse investors seeking predictable returns.

Why use FD income apps?

  1. Easy to use
    FD income apps are designed to be simple and easy to use. You do not need to be a financial expert to get started. Just download the app, follow a few simple steps, and you are ready to go.
  2. Lots of options
    These apps offer lots of different ways to save and invest your money. You can choose how much to invest, how long to invest for, and how often you want to get paid interest. Plus, there are different types of FD to choose from, depending on your financial goals.
  3. Keep track of your money
    With an FD income app, you can keep track of your money wherever you go. You can see how much you have saved, when your investments will mature, and how much interest you have earned.
  4. Safe and secure
    Security is crucial for any financial transactions. FD apps prioritise protecting users' information and funds. They use strong encryption and strict security measures to keep data safe and prevent unauthorised access.

Key features of FD income app

  • Simplified FD Opening: Apps provide a step-by-step process to open an FD account in minutes
  • In-App KYC: Many apps allow you to complete the mandatory Know Your Customer (KYC) verification by uploading documents digitally
  • Secure transactions: Reputable apps like Bajaj Finserv app use security measures to protect your financial information and transactions. Bajaj Finserv app is free to use, you can download it form Play Store or App Store
  • Investment Calculators: Calculate potential returns using built-in calculators, incorporating factors like investment amount, interest rate, and tenure

How to download the Bajaj Finserv app through the play store?

  1. Open Play Store and tap the search bar at the top and type "Bajaj Finserv"
  2. Find the official Bajaj Finserv app in the search results
  3. Tap on the "Install" button. The app will begin downloading and installing automatically
  4. Once installed, tap "Open" or find the app's icon on your home screen

How to download the Bajaj Finserv app on the App Store?

  1. Open the App Store and tap the "Search" tab at the bottom right, and type in "Bajaj Finserv"
  2. Find the official Bajaj Finserv app
  3. Tap "Get" next to the app's name, then tap "Install". You may need to enter your Apple ID password
  4. Once installed, tap "Open" or find the app's icon on your home screen

Things to keep in mind

  • Premature withdrawal: Though most financial institution allows allow premature withdrawal on their fixed deposit, it often comes with a penalty, reducing your interest earnings.
  • Lock-in periods: Some FDs have minimum lock-in periods, affecting your liquidity.

Conclusion

If you are looking for a secure investment option with predictable returns, FD income apps offer a simple and efficient path forward. The FD app helps investors to make informed decisions and maximise the potential of their hard-earned money.

Frequently asked questions

Is investing through a fixed deposit income app safe?

Investing through a fixed income app is generally safe, as reputable platforms like Bajaj Finserv prioritise security measures like encryption to safeguard users' investments and personal information.

Are there any fees associated with using a fixed deposit income app?

Some fixed income apps may charge fees. But Bajaj Finserv app is free to use, you can easily download it from Play Store or App Store.

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.