Bajaj Credit Limited is an non-banking finance company (NBFC) of Bajaj Finserv Limited. Bajaj Loan Limited, founded in 1987, is one of the most widely spread financial organisations. The firm provides consumer credit, SME financing, rural lending, business lending, mortgage lending, and investment products.
S&P Global Ratings assigned a short-term issuer credit rating of A-3 and a long-term issuer credit rating of BBB on 31st January 2019 to Bajaj Credit Limited. It is India’s largest distributor of lifestyle products for consumers, technology, digital devices and personal loans. Furthermore, its SMEs are growing faster than the industry average. Bajaj Credit has been assigned the highest degree of security for the fixed deposits, that is, FAAA by CRISIL.
The company’s headquarters is located in Pune. It also has more than 33,000 distribution sites and 300 customer service locations. In addition, the business owns 100% of Bajaj Housing Finance Limited and 100% of Bajaj Financial Securities Limited.
Bajaj Finserv Limited, its parent company, is a financial services organisation with pan-India operations. The services provided by the firm include general insurance, loan services, life insurance, health insurance, mutual funds, fixed deposits and pensions.
You may safely use the Kuvera app to invest your hard-earned money in a Fixed Deposit. Kuvera has a secure and stable portal for all your online stock trading and other investments.
Invest in Bajaj Finance for these Benefits
Here are several reasons why you should invest in Bajaj Finance:
Systematic Deposit Plan (SDP)
SDP is one investment option that allows depositors to make small monthly payments. Each deposit has a maturity period ranging from 12 to 60 months. Furthermore, the deposit will be subject to the interest rate in force on the day made. In addition, each SDP deposit is treated as a distinct FD.
Good credibility and high stability
Bajaj Finance is the only Indian NBFC assigned a ‘BBB’ rating by the S&P Global. Bajaj Finance Fixed Deposits are among the safest investment options accessible to investors. Furthermore, CRISIL and ICRA have given Bajaj Finance FDs the highest stability ratings, that is, FAAA and MAAA, respectively.
Bajaj Finance offers term deposits ranging from 12 to 60 months. Thus, investors can choose the tenure according to their financial needs and preferences.
Open your FD online
Depositors may easily open online Bajaj Finance FD accounts. The application process for online FD is simple and saves depositors time. The online method avoids paperwork or standing in queues.
Avail loan against FD online
Bajaj Finance offers the option of borrowing against an FD during an emergency. Furthermore, one may request a loan online instead of going to the bank. Borrowers may borrow up to 75% of their fixed deposit amount.
Invest using a debit card
You may invest in FDs using your debit card at Bajaj Finance. Please remember that this facility is available only in a few locations.
Multi deposit facility
Investors may invest in several deposits with a single check payment. They may also choose each deposit’s length and frequency of interest payments. In addition, in an emergency, depositors can withdraw from any of their deposits without impacting the other accounts.
Non Resident Indian FD
Bajaj Finance also offers FD solutions to NRI individuals, Overseas Citizens of India (OCIs) and Persons of Indian Origin (PIO). Non-Resident Ordinary (NRO) account users may select the term duration between 12 and 36 months. Furthermore, considering the low-interest rates, an NRI FD is an excellent investment.
Features of Bajaj Finance Fixed Deposit Rates
The Bajaj Finance Fixed Deposit account is an excellent investment alternative for investors seeking better returns than a bank savings account. The fixed deposit programme from Bajaj Finance provides guaranteed income at a set interest rate.
The following are the main characteristics of a Bajaj Finance Fixed deposit account:
- The period varies between 12 and 60 months.
- A minimum deposit of INR 25,000 is required to start an FD with Bajaj Finance.
- Bajaj FD financial services interest rates: The annual interest rate on the Bajaj Finance FD varies from 6.90% to 7.10%.
- There is no such thing as a maximum amount.
- It is safe, since Bajaj Finance is a Housing Finance Company (HFC). Insurance does not cover HFC deposits. In contrast, rating agencies scrutinise the HFC deposits and indicate the cost reductions. For example, deposits with AAA or AA ratings are the most secure.
- Senior citizens preferred interest rates: Senior citizens get preferential interest rates from Bajaj Finance. Annual interest rates vary between 7.15% and 7.35%.
- Premature withdrawal: In an emergency, depositors may withdraw their deposit amount after the first three-month lock-in term.
- Loan against fixed deposit: Bajaj Finance provides loans up to 75% of the FD’s value.
- Depositors may choose beneficiaries for Bajaj Finance deposits.
- Depositors may begin investing in a Bajaj Finance Fixed Deposit at any time. Depositors may also start their FD investments by filling out the online application form on the website.
- Auto-renewal: The FD account may be renewed automatically by Bajaj Finance.
Steps to book an FD on Kuvera
Step 1: Visit our website or download the Kuvera app to sign up.
Step 2: Comply with the KYC requirements by providing your PAN, Aadhaar, and video-based in-person verification. This will take less than two minutes.
Step 2: Select the ‘Invest’ option from “Home”
Step 3: Select ‘Fixed Deposits’
Step 4: You’ll discover several fixed deposit options on Kuvera, sorted by duration, bank, tenure and so on. Click on any FD to see its lock-in duration, interest rate, and minimum deposit.
Step 5: Select the fixed deposit you want to invest in, and tap on “Start FD”.
Step 6: Enter your primary bank account details – IFSC code, account number and account type.
Step 7: You will need to fill in details of your Fixed Deposit, as well as register the account where the maturity amount will be credited, if you didn’t choose to auto-renew. After filling in the details, confirm the details and agree to the Terms and Conditions.
Step 8: Check to see if the funds were withdrawn from your account and download a Deposit Receipt by logging in to your Kuvera app or website. The app will store all your documents, including receipts.
Bajaj Finance is the only Indian NBFC with a worldwide rating of ‘BBB’, according to S&P Worldwide. The firm provides consumer credit, SME financing, business lending, rural lending, mortgage lending, and investment products. They are the largest distributor of consumer lifestyle products, technology and digital devices, and personal loans in India. Bajaj Finance offers fixed deposit solutions to non-resident Indians (NRIs), Overseas Citizens of India (OCIs, and Persons of Indian Origin (PIO). The annual interest rate on the Bajaj FD varies from 6.90% to 7.10%. In an emergency, a single deposit may be made without impacting the other accounts.
If you are willing to invest in Bajaj Finance, Choose Kuvera the best online stock trading platform to invest and analyse the company’s prospects using the financial and related data. It’s time you start investing now!