The start of the new year is a great time to start planning and achieving your financial goals. One of the best ways to do this is by investing in a Fixed Deposit (FD). An FD is a low-risk investment option that offers a steady return on investment. Bajaj Finance’s Digital FD makes the process even easier, with its online platform and attractive new rates of up to 8.85% per annum. In this article, we’ll guide you through the process of opening a Bajaj Finance Digital FD online.
Step 1: Download the Bajaj Finserv app from the Play Store/ App store
To open a Bajaj Finance Digital FD, you need to first visit the website or simply download the Bajaj Finserv app. If you’re a new customer, you’ll need to register on the mobile app with your 10 digit mobile number. Once you’ve entered your details, click on “Proceed”. Enter the OTPreceived on your numberand click onproceed. You can set your 4-digit MPin for a seamless log in experience to the app.
Step 2: Select the Digital FD option
Once you’ve logged in on the app, go to the ‘Investment’ section and select the “Digital Fixed Deposit” option. You’ll then be shown the benefits of Digital FD. Click on ‘Open FD’ to enter the amount you wish to invest and the preferred tenure (duration of the investment). Bajaj Finance offers tenor options ranging from 12 months to 60 months. Experience higher interest rates of up to 8.85% p.a. on selection of tenure of 42 months on your chosen amount.
You can also opt for different pay out frequencies (monthly, quarterly, half-yearly, or yearly) depending on your financial needs.
Step 3: KYC (Know Your Customer) process
Once you’ve completed the payment process, you’ll need to complete the KYC process. Enter your personal details, residential details, Occupation details with your Aadhar Card/Pan Card
Step 4: Choose the payment method
After selecting your investment amount and tenor, you’ll be prompted to choose a payment method. Bajaj Finance accepts payments through net banking, debit cards, NEFT, and mobile wallets. Choose the payment method that is most convenient for you and follow the instructions to complete the payment.
You can complete the KYC process online by providing your basic details like name, address, and PAN (Permanent Account Number) and uploading scanned copies of your ID proof and address proof. Once you’ve completed the KYC process, your account will be activated, and you can start investing in the Digital FD.
Step 5: Track your investment
Once you’ve opened a Bajaj Finance Digital FD, you can track your investment through the Bajaj Finance website or app. You can track your investment details like the amount invested, the interest rate, the tenor, and the maturity date. You can also download your account statement and receive email alerts for all transactions related to your FD.
The process of investing in a Bajaj Finance Digital FD is quick and hassle-free. By following these steps, you can start earning high returns on your investment in just a few minutes.
Benefits of Investing in Bajaj Finance Digital FD
Investing in a Bajaj Finance Digital FD offers several benefits compared to traditional FDs. Here are some of the key benefits:
- Attractive interest rates: Bajaj Finance’s Digital FD offers some of the highest interest rates in the market, with rates up to 8.85% per annum.
- Convenience: Investing in a Digital FD is quick, easy, and can be done from the comfort of your home.
- Security: Bajaj Finance uses state-of-the-art security measures to protect your personal and financial information.
- Flexible payout options: Bajaj Finance offers multiple payout options, allowing customers to choose the option that suits their financial needs.
- Premature withdrawal and loan options: Customers can withdraw their investment prematurely or avail a loan against their Digital FD at attractive rates.
Investing in an FD has always been a popular way of earning a steady return on one’s investment. FDs are considered to be a low-risk investment option, especially when compared to stocks or mutual funds.
Traditionally, FDs have been booked by visiting a bank or NBFC branch and filling out a physical form. This process could be time-consuming and involve paperwork, which was not always convenient for customers.
The advent of digital technology has made it possible for customers to book an FD online, without having to visit a branch physically. This means that the process is quicker, more convenient, and can be done from the comfort of one’s home or office.
Investing in a digital FD also comes with certain advantages that are specific to this format. For example, customers can select the tenor (duration of the investment) and the amount they wish to invest with just a few clicks. They can also access their investment details and account statements online, making it easy to keep track of their investment.
Additionally, investing in a digital FD is a secure option, as customers can be assured that their personal and financial information is protected by advanced security measures. Bajaj Finance, for instance, uses SSL (Secure Socket Layer) encryption to protect its customers’ data.
Opening a Bajaj Finance Digital FD online is a quick and easy process that can help you achieve your financial goals. By following the steps mentioned in this article, you can start earning high returns on your investment in just a few minutes.
Bajaj Finance’s new rates of up to 8.85% per annum, combined with the convenience and security of investing in a Digital FD, make it a smart investment opportunity. Start your journey towards financial growth and security by investing in a Bajaj Finance Digital FD today.
Overall, Bajaj Finance’s digital Fixed Deposit is a great option to consider as part of one’s financial goals for the new year. By taking advantage of the new rates on offer and investing in a high-rated NBFC, customers can take a step towards achieving their financial goals and making their money work harder.