Gudi Padwa is a festival that is predominantly celebrated in Maharashtra and marks the beginning of the New Year and the harvest season. As a result, this festival is considered to be auspicious and the time ripe for the purchase of an asset such as gold or furniture. Since Gudi Padwa is synonymous with a new beginning, it is smart to invest for financial growth on this day as well. If you wish to do so without taking on unnecessary risk, consider adding an FD to your portfolio as it offers guaranteed returns.
Here’s how investing in an FD this Gudi Padwa can usher in financial well-being.
Earn high and assured returns
Fixed Deposits are known to offer guaranteed returns on investment because they are not linked to the market. However, before investing in an FD, ensure that you secure a lucrative rate of interest. Company FDs tend to outmatch bank FDs in this domain, and having your returns backed by high stability ratings is beneficial.
For instance, with the Bajaj Finance Fixed Deposit new customers get a rate of up to 7.80% and senior citizens can earn at up to 8.05%. Further, the FD carries the ICRA MAAA and CRISIL FAAA ratings, which is the highest in their respective categories point to timely interest payouts.
Invest easily and without delay
With a minimum deposit amount of just Rs. 25,000, you can sow the seeds of prosperity this Gudi Padwa and reap generous returns soon. Moreover, at select locations you can invest using your debit card and with the Multi-deposit facility, you can open several FDs with a single cheque. In case of the latter, you can have your FDs mature after different tenor lengths to meet a range of goals.
Pick a tenor suiting your needs
Bajaj Finance offers you a flexible tenor ranging between 12 and 60 months, using which you can obtain liquidity for your short- and medium-term goals. Moreover, with the Auto-renewal facility, you can stay invested for longer, benefit more from compound interest, and align your investment to your long-term goals as well. The FD interest rates with Bajaj Finance Limited peak for tenors of 48 months or more.
Take a look at this table below to grow your wealth over varying tenors.
|Deposit amount (in Rs)
||Rate of interest (in %)
||Tenor (in months)
||Interest payout (in Rs)
||Maturity amount (in Rs)
*These results were generated with the Bajaj Finance FD Calculator.
Start saving with a Systematic Deposit Plan
If you are a young earner, now’s the best time to inculcate the habit of saving and an undemanding way of doing so is to sign up for a Systematic Deposit Plan. Here, you make monthly contributions of Rs. 5000, initially via cheque and later through an NACH mandate. You can make between 6 and 48 contributions and each one creates a new FD, which earns interest at the rate prevailing on the date of the deposit. By avoiding the need to accumulate a lump sum, you can build your savings quickly through this facility.
Get an online loan in emergency
With an FD you needn’t worry being left high and dry in a financial crunch as issuers like Bajaj Finance allow you to avail liquidity by leveraging the value of your deposits. By taking a loan against a Bajaj Finance FD, you get access to funding to the tune of Rs. 4 lakh. Moreover, this facility is designed for emergencies as you can apply for the loan online, in moments.
As Gudi Padwa ushers in a new beginning, sign up for a Bajaj Finance online FD to bring in financial well-being and build a corpus sufficient for your future goals!
About Bajaj Finance Limited
Bajaj Finance Limited, the lending arm of the Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 36 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Loans for Professionals, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited prides itself on holding the highest the credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international ‘BBB’ with stable outlook for long-term, by S&P Global Rating.
To know more, please visit: https://www.bajajfinserv.in