Why Millennials Should Consider Fixed Deposits in Their Investment Mix

Fixed Deposits

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As millennials, we are constantly bombarded with a barrage of investment options – from SIPs and mutual funds to real estate and equity shares. With so many options available, it can be overwhelming to choose the right investment instrument that fits our financial goals. However, one of the most overlooked and underrated options is Fixed Deposits (FDs).

Fixed Deposits are a tried and tested investment option that provides a secured return on investment, making them an ideal choice for risk-averse investors. They are low-risk, easy to manage, and offer a fixed interest rate over a specific period of time. With minimal risk, Fixed Deposits offer a high degree of safety with predictable returns, making them an essential inclusion in any investment portfolio.

In the current economic scenario where the interest rates are fluctuating, it’s essential to diversify your investment portfolio, and investing in Fixed Deposits can help you do just that. This New Year, Bajaj Finserv App is offering fixed deposit rates up to 8.85% p.a. with an option to calculate and book your Fixed Deposit Online instantly in a few clicks.

Here’s why millennials should consider Fixed Deposits in their investment mix:

1. Secure returns: Fixed Deposits provide a secure and high rate of interest up to 8.85% p.a., making them a low-risk investment option. With the current Fixed Deposit rates offered by Bajaj Finserv App, you can earn a significantly higher interest rate than traditional savings accounts. This makes it an ideal investment option for those who want to secure their savings without much risk.

2. Easy to manage: Fixed Deposits can be managed easily online through the app, allowing you to track your investments and returns from the comfort of your home. The Bajaj Finserv App provides you with an easy-to-use platform that allows you to manage your investments on-the-go. With features like FD calculator and online booking, investing in Fixed Deposits has never been easier.

3. High liquidity: While Fixed Deposits offer a fixed rate of interest and a fixed term, they also provide high liquidity. In case of emergencies, you can easily liquidate your Fixed Deposit and withdraw the money without any penalty. This provides a sense of financial security and peace of mind.

4. Diversified portfolio: Fixed Deposits provide a low-risk investment option that can help diversify your investment portfolio. By combining different investment options, you can reduce the overall risk and increase returns. This diversification helps in optimizing your investment portfolio effectively and achieving all your financial goals.

Investing your hard-earned money is a crucial decision that requires a careful evaluation of various investment options available. As a first-time investor, it is natural to be anxious and unsure about where to invest your funds. Investment options like stocks, equity mutual funds, and other market-linked products involve a certain amount of risk, which may not be suitable for all investors. This is where Fixed Deposits come in handy. You can book an FD in the below steps:

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 OTP received on your number and click on proceed. 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.

The Bajaj Finserv App provides a user-friendly interface and offers a feature-rich investment dashboard that permits investors to track and manage all their investments in one place. The app also provides information on current market trends and investment tools, which can help investors make sound investment decisions.

Apart from the convenience of booking Fixed Deposits online, the Bajaj Finserv App also offers different investment options, including Mutual Funds, Systematic Investment Plans, and much more. This feature-rich app provides easy access to a wide range of investment options under one roof, making it easy for investors to diversify their investment portfolio.

In conclusion, millennials often look for investment options that offer high returns at low risk. Fixed Deposits are an ideal investment option for this demographic, and the Bajaj Finserv App makes the investment process easier and convenient. With the app’s range of investment options and user-friendly interface, it is possible to customize an investment portfolio that fits individual financial goals. So this New Year, do not hesitate and book fixed deposits online with the Bajaj Finserv App. Happy Investing!