For someone in the initial phases of employment, adopting healthy financial disciplines like saving or investing can be a difficult task. However, these are crucial for wealth generation, and one must start as early as one can. One way to invest and grow your money is with the Bajaj Finance Fixed Deposit via a Systematic Deposit Plan. This feature enables you to enjoy the stable growth of your FD with the ease of investment like that offered by mutual fund SIPs.
Read along to know more about this industry-first monthly savings plan.
What is the systematic deposit plan?
The Systematic Deposit Plan is a quick savings tool that allows you to make bite-sized monthly deposits as low as Rs. 5,000. Here, every deposit you make counts as a new Bajaj Finance FD and matures based on the duration you select. The booking of every new deposit is at the interest rate applicable on the date of deposit.
Is it risky or safe?
The Systematic Deposit Plan (SDP) is a safe, reliable and low-risk avenue for individuals looking to build their savings systematically, this savings tool is provided by Bajaj Finance, offering the convenience of making monthly deposits. With the assurance of a 100% return, the SDP is considered a secure investment option.
How Do Systematic Deposit Plans Work?
Bajaj Finance Systematic Deposit Plan (SDP) is a savings tool that allows you to make monthly deposits as low as Rs. 5,000. Every monthly deposits you make earns interest. You can start a Bajaj Finance Systematic Deposit Plan with a small sum of just Rs. 5,000.
Based on your financial goals and preferences you can choose between two payout options:
- Single Maturity Scheme (SMS)
- Monthly Maturity Scheme (MMS)
Bajaj Finance SDP has AAA ratings from CRISIL and ICRA, hence considered very safe investment option.