Pune, Maharashtra, India | 9th March 2020: Maintaining financial health is the key to security and wellbeing for women across the board. However, research suggests that women aren’t as proactive with making investments. According to insights from a recent survey, only 33% of women take investing decisions independently. For the rest, external encouragement from family plays a major role. Additionally, 13% of the 4,000 women respondents said that the death or divorce of their partner was a motivating factor to start investing. While today, women are more aware about the necessity of investing, it is good to remember that picking the right instruments is key to achieving your financial goals.
Data from Scripbox indicates that 58% of women prefer to opt for the safe and steady route, siding with provident funds, fixed deposits, or savings accounts. The rest choose market-linked vehicles, with 6% investing in gold and 15% preferring mutual funds. Treading with caution need not be a bad thing, provided that you have a well-diversified portfolio. Among the safe instruments you can opt for, the fixed deposit stands out as it offers guaranteed, generous yields through a small lock-in period. A prime example is the Bajaj Finance Fixed Deposit. To better understand why you should invest in a Bajaj Finance FD, read on.
Offers a virtually risk-free investing avenue
The Bajaj Finance FD excels at providing a safe environment and it is known to be credible and stable, securing both the ICRA ‘MAAA’ and CRISIL ‘FAAA’ ratings. What’s more, Bajaj Finance is also the only Indian NBFC to hold the international ‘BBB-’ rating from S&P Global. All of these point to a default-free journey and assured returns at maturity.
Allows you to invest flexibly as per your goals
As per the Scripbox survey, the financial goals of women investors vary from vacation funding and children’s education to building an emergency corpus and a retirement fund. To obtain liquidity for these objectives, you can choose to invest over a tenor ranging between 12 and 60 months. Moreover, you can build your savings reliably through the tenor as Bajaj Finance offers commendable FD interest rates up to 7.80% for regular investors and 8.05% for senior citizens.
Consider the following table to know how much first-time investors can earn.
|Initial deposit||Tenor||Interest rate||Interest earned||Maturity value|
|Rs. 5,00,000||60 months||7.80%||Rs. 2,27,887||Rs. 7,27,887|
|Rs. 10,00,000||60 months||7.80%||Rs. 4,55,773||Rs. 14,55,773|
|Rs. 20,00,000||60 months||7.80%||Rs. 9,11,547||Rs. 29,11,547|
Results were calculated using the FD calculator.
To increase convenience, you can use the Multi-deposit feature where you can invest in several FDs, all with different tenors, with a single cheque. This way, you can enjoy liquidity for all your goals and also carry out laddering, should you want to set up a regular stream of income.
Encourages reinvesting with bonuses and special features
With this FD, you not only enjoy investing incentives, but also those that apply to when you reinvest. For instance, you get access to FD renewal bonuses, currently an additional 0.10% on the base interest rate. Further, you can also opt for FD Auto-renewal to reinvest your investment proceeds effortlessly at maturity. This negates the need to fill new forms and keeps you invested for longer, allowing for greater returns through compounding interest.
Serves as a savings tool with the Systematic Deposit Plan feature
Through a Systematic Deposit Plan you can invest every month with a minimum amount of just Rs. 5,000. This is especially beneficial for women starting out in their careers, as it allows you to invest without disrupting your budget. Here, each monthly contribution counts as a new FD, booked at the interest rate prevalent on the date of deposit. You also have full control of the number of deposits you make, with the number ranging from 6 to 48.
So, take an independent decision and invest to meet your goals. With possible repo rate cut in June 2020 and reduced FD rates ensuing, now is the best time to book your Bajaj Finance Online FD.