It’s extremely important to inculcate a habit of saving and investing your surplus income to facilitate growth of wealth. While there are multiple financial tools to help you plan your investments, choosing the right plan could be a daunting task. Systematic Investment Plan (SIP) is a great savings option, as you can make regular investments at periodic intervals. But, with the volatile market movements there’s always a risk of losing out on your returns. To risk-proof your savings you need to choose fixed-income instruments like a , offering assured returns. Systematic Deposit Plan (SDP) is one such industry-first savings plan offered by Bajaj Finance Limited, which enables you to start growing your savings on a monthly basis along with the assurance of an FD. You can start saving with just Rs. 5000 per month, and choose to get your returns altogether, or on a monthly basis.
If you have a financial goal to achieve for the near future or would require funds on a recurring basis to pay off your monthly instalments, and you do not have a substantial corpus to get started on investments, SDP is the safest bet. Monthly Maturity Scheme, offered by Bajaj Finance is an ideal savings option for you in this situation. One of the two variants of the Systematic Deposit Plan (SDP) from Bajaj Finance, this is a scheme that assures you returns up to 6.75% within a tenor of 12 to 60 months. Combining the features of a fixed deposit and a monthly savings plan, SDP offers you a unique savings opportunity that will help you build a corpus in a relatively short period of time.
While Systematic Investment Plans (SIPs) also offer similar convenience of investing small amounts for a fixed period to build up a corpus, Monthly Maturity Scheme has some advantages over SIPs that make it a more attractive investment option. Here is a quick look at some of those advantages:
Safety of deposit
Monthly Maturity Scheme is tailored for conservative investors and young professionals who are just starting out on the savings habit. You get assured returns in a small period of time. Also, this is one of the safest deposit options for depositors. With highest security rating of FAAA by CRISIL and MAAA by ICRA, your savings are at lowest risk. With SIPs, the risk factors can range from low to moderate or relatively high, with even a chance to lose your capital in the short term.
Assured attractive returns
In SIPs, returns are subject to the market trends and depend on the kind of mutual funds that are chosen. If you are willing to stay invested for a longer period, returns on SIPs can be at a higher level than the . But for assured returns within a short span of time, Monthly Maturity Scheme is a more reliable option.
Easy financial planning
Monthly Maturity Scheme has the unique benefit of treating each of your deposits as a separate entity with interest rates on the day of deposit applicable to each. The tenor chosen also applies to each of your deposits, meaning each one has a different date of maturity. You are paid the principal and interest on each deposit on its date of maturity, which means you can plan ahead for a special phase of your life where you can foresee the need for a greater income. The handy SDP Calculator helps you foresee the exact returns you can expect on your deposit on the date of maturity.
Convenient online investment process
Growing your monthly savings is now easier than ever, with the end to end online SDP process. You can start investing from the comfort of your home with no documentation hassles. If you’re an existing customer, you can easily visit our online investment form and invest right away. New customers can also fill the online application form and get started on your investment journey.
Systematic Deposit Plan provides a unique saving opportunity that combines the safety and convenience of a fixed deposit with the gains you might expect from an SIP. Of the two variants, Monthly Maturity Scheme offers the unique benefit of being able to plan a higher monthly income in the foreseeable future.
Some of the attractive features of the scheme are:
Monthly Maturity Scheme interest rate for each deposit is the prevalent rate on the date of deposit.
You can choose deposit amounts starting from Rs. 5000 per month
Deposit tenor can be chosen from 12 to 60 months
Number of deposits can be fixed at between 6 and 48
Auto-renewal facility with an additional rate benefit of 0.10%
Use Monthly Maturity Scheme Calculator to see the amount you can expect to be paid on maturity of each deposit.
For a guaranteed corpus that lands safely and surely in your hands, Monthly Maturity Scheme is a smart option. The best time to start saving is now! Consider investing in a to watch your savings grow.