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Secure your Child's Future with a Bajaj Finance Fixed Deposit

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As a parent, securing your child's future is paramount, and you can do this in various ways.

You can allocate assets, build a sizable trust fund, and make the right investments right from when they are still toddlers. In this way, whether your child dreams of studying overseas, setting up their own venture, having a destination wedding, or travel the world to expand horizons, you have the required finances.

Since savings alone are insufficient, you can invest smartly to grow your wealth and allocate a portion to securing your child's future.

One instrument that is safe and high yielding is the Bajaj Finance Fixed Deposit which is offered through its lending and investment arm, Bajaj Finserv. With intelligent investing in this avenue, you can build a healthy corpus effortlessly. Further, this investment is also viable for short-term goals such as funding your child's education.

Read on to learn the benefits and features of choosing the Bajaj Finance Fixed Deposit to secure your child financially:

Competitive interest rates for maximum yield

A major benefit of investing in this FD is that your money grows rapidly thanks to a high interest rate. Bajaj Finance offers one of the highest rates in the country for all customers, thus making it perfect for both short-term and long-term goals. As a regular investor, you can get up to 8.35 per cent interest, while senior citizens get up to 8.70 per cent on a tenor of at least 36 months, with interest payable at maturity.

To help you understand this better, consider the following example when you invest Rs 10 lakh.

The Bajaj Finance FD has high stability and credibility ratings. It has the ICRA 'MAAA' and CRISIL 'FAAA' ratings, which show that the issuer is prompt with interest payouts and has a good track history. Further, it is the only Indian NBFC that has the S & P Global 'BBB' rating, indicating that its credibility standards are at par with those followed internationally. These ratings assure you that your money is in good hands and that you can expect to access your returns as promised.

When you invest in a Bajaj Finance FD, you can opt for a flexible tenor based on your need. If you've set aside some money for your child earmarked for a specific need, such as education or summer school, you can invest it in a short tenor FD until you need it. This way, you can easily meet your goal and earn interest on the invested amount. To help you understand how much you stand to earn at different tenors, consider the following table.

As a new customer:

As a senior citizen:

With the auto-renewal feature, you can reinvest your money and take advantage of the renewal bonus easily. You can opt for this feature when you start your investment and can choose the tenor post-renewal right at the initial stage. Further, this process reduces the effort involved as you don't have to fill the renewal form at the time of maturity. The key benefit of this feature is that it applies the bonus renewal rate to your investment, which is an additional 0.10 per cent to the base rate on offer.

Investing in this FD is straightforward and simple. All you have to do is book an appointment by filling the online application form and authorise a representative to call you. Alternatively, depending on the city you live in, you can also invest your money by using your debit card. This greatly adds to the overall convenience of investing, allowing for a hassle-free experience.

The FD calculator is a great tool you can use to help your planning efforts. It accurately computes your total earnings at varying interest rates for different tenors and gives you a clear picture of what you can expect.

Further, thanks to the low minimum investment amount of Rs 25,000, you can begin right away without waiting to set aside a significant amount of money.

So, invest in the Bajaj Finance Fixed Deposit today and build a corpus large enough to fund any and all of your child's dreams.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 13 2019. 19:48 IST
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