Why Bajaj Finance?
At the time of investment, a person should be careful about the risk factor in the market. Investment is meant to give profit to our hard-earned money. Here we’ll talk about how Bajaj Finance is better in the industry. We will have a glimpse of the growth and achievement of Bajaj Finance in the previous financial years. Bajaj Finance Ltd. is a Non-Banking Financial Company (NBFC) registered with the RBI. It is a subsidiary company of Bajaj Finserv Ltd. and is engaged in the lending and accepting deposits with commercial customers in urban and rural India.
Benefits of Bajaj Finance Fixed Deposit
Bajaj Finance Fixed Deposits give more attractive interest rates than the banks available in the market. These days the interest rates of the banks are falling. Bajaj Finance offers a higher average return on your investment compared to the other options available in the market. It also provides an attractive interest rate to senior citizens and many more benefits.
Here we’ll see the following benefits offered by Bajaj Finance Fixed Deposit, especially for women.
- Higher Returns: Bajaj Finance is offering a higher rate of interest to the general people and the senior citizens to multiply the customers’ savings.
- Flexible Tenor: FD for women is the flexible choice of womens for choosing the tenor of 12 months to 60 months. This facility can meet the financial requirements of the customers.
- The choice to receive periodical interest payouts: Bajaj Finance offers a choice between cumulative and non-cumulative interest payouts. In a non-cumulative scheme, customers receive interest monthly, quarterly, or half-yearly. The interest gets compounded every year in an incremental scheme, and customers receive higher returns at maturity.
- Tax Benefits: The amount invested in a tax-saving fixed deposit is exempted under Section 80C of the Income Tax Act, with a maximum of up to Rs. 1.5 lakh per year with a lock-in period of five years.
- High Stability and Credibility Bajaj Finance Limited has a stable ICRA’s MAAA (stable) rating and CRISIL’s FAAA/stable, which gives secure investments and assured returns.
- Access to loan against fixed deposit When customers sign up for a Bajaj Finance Fixed Deposit, they can quickly get the loan against the FD to meet their financial needs.
A Good Bajaj Finance Fixed Deposit Investment Plan For Women
A woman investor can invest in Bajaj Finance Fixed Deposit plan, tenor starting from 12 months to 60 months. The minimum investment amount is Rs. 25,000, and the interest rate varies from 5.65% p.a. to 6.50% p.a.
Eligibility Criteria for availing Bajaj Finance Fixed Deposit for Women
A Bajaj Finance Fixed Deposit for Women account can be opened by:
Any woman is working in a private or government organization or running a business, trust, and proprietorship.
Any girl child (minor) with a guardian
Female senior citizens, widows, and ex-service women can get this scheme with an additional interest rate.
Benefits of Investing in Bajaj Finance Fixed Deposit for Women
Flexible tenor where women can choose the FD term as per their requirements.
A minimum investment amount is Rs. 25,000
Tax immunity under Section 80C of the Income Tax Act, 1961.
Women FD holders can avail the loan amount of up to 75% of the deposited amount.
Central KYC Registry
The complete form of the Central KYC Registry is a centralized repository of KYC records. Once an individual submits the KYC documents, a CKYC number is assigned. One can use the CKYC number instead of submitting physical KYC documents for any financial transaction. KYC Registry is mandatory for verification purposes to create an account-based relationship. To apply for CKYC, you need to fill out the Central KYC (CKYC) form. A customer has to submit a self-attested copy of proof of identity (PAN Card, etc.) and proof of address, along with a scanned photo & signature.
Bajaj Finance Fixed Deposit is a good investment option for professional women. Women are growing and moving further in every field. Bajaj Finance is offering wings to the dreams of women. Its eligibility criteria are simple, and the benefits are fantastic. It’s an excellent decision to invest in Bajaj Finance Fixed Deposit for a bright future and higher returns. Every woman should take advantage of this scheme.