Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Bajaj Finserv announces Fixed Deposits for NRI

Posted On: 2019-08-19 18:53:42

Bajaj Finance Ltd, a deposit accepting Non-Banking Financial Institution ('NBFC') and a lending arm of Bajaj Finserv group, has announced its new offering of Fixed Deposit to NRIs enabling them to benefit from high returns of up to 8.95%. Bajaj Finance Fixed Deposit for NRIs offers flexible tenor options between 12 months and 36 months, along with multi-deposit and easy renewal facilities. NRIs can easily invest in a Bajaj Finance Fixed Deposit by making a deposit from their NRO account.

Commenting on the launch, Mr Sachin Sikka, Chief Business Officer - Retail & Corporate Liabilities said, "We aim to cater the NRI investors seeking to invest in Indian market to generate higher returns. Fixed deposit are the safest investment option and regulatory environment is fairly conducive for NRIs to make such investments. Bajaj Finance Fixed deposit has the highest stability ratings which indicates safety of investments."

As per reports by the World Bank, India has remained the top receiver of remittances in 2018 with $79 billion. An amount of INR 800 billion is parked in NRO accounts, in the form of savings account balances, earning very low returns. With volatility in global markets, NRIs could consider traditional investment avenues like Fixed Deposits back home.

Key feature of Bajaj Finance Fixed Deposit

High FD interest rates

Bajaj Finance Fixed Deposit offers high returns, which are unaffected by market fluctuations. For new NRI customers investing for 36 months in a cumulative fixed deposit, interest rate can go up to 8.60%; interest rates for existing customers can go up to 8.85% and up to 8.95% for senior citizens.

Highest safety of investment

Bajaj Finance Limited was assigned a long-term rating of 'BBB-/Stable', which is equivalent to India's sovereign rating, and a short-term rating of 'A-3' by S&P Global Ratings this year. Bajaj Finance Fixed Deposit also has the highest stability ratings of FAAA by CRISIL and MAAA by ICRA, which indicates the highest safety of the investment.

Flexible Tenor

NRIs planning to invest in a Bajaj Finance Fixed Deposit, can choose a tenor of 1 to 3 years. Those willing to invest for a longer time frame can consider laddering fixed deposits to get higher returns, along with intermittent liquidity.

Investors can also consider forecasting their returns, using the handy fixed deposit calculator before they start investing. It could help plan their investments, so that they can choose tenor and invest as per their convenience.

Multi-deposit

NRIs can invest in multiple NRI fixed deposits at the same time, with a single cheque. This helps them doing away with the hassle of filling separate application forms, and making different payments.

Renewal

Savvy investors, wishing to stay invested in a Bajaj Finance FD for a longer period, can opt for the renewal option, at the time of investment itself. Subsequently, they can also get 0.10% renewal benefit.

Taxation of investment

While investors may be able to reap several benefits by investing in a fixed deposit, investors must also consider taxation of their investments. Here's a look at the TDS rates applicable for NRI fixed deposit in India.

If annual interest on deposit is less than Rs.50 lacs - 31.2%
If annual interest on deposit is more than Rs.50 lacs, but less than 1 Cr - 34.32%
If annual interest on deposit is more than Rs.1 Cr - 35.88%

Investing in a Bajaj Finance Fixed Deposit is convenient and investors can pay through their cheque or an RTGS/NEFT from their NRO bank account. They simply need to fill in a few details online and start investing with just Rs. 25,000. Bajaj Finance Limited NRI Fixed Deposit offers high returns with lower risk. More than 1,39,000 customers have invested in Bajaj Finance Fixed Deposit, contributing towards a deposit book amount of more than Rs. 15000 crore.

Shares of BAJAJ FINSERV LTD. was last trading in BSE at Rs.7379.25 as compared to the previous close of Rs. 7441.65. The total number of shares traded during the day was 16556 in over 1698 trades.

The stock hit an intraday high of Rs. 7531.5 and intraday low of 7361.7. The net turnover during the day was Rs. 123617083.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Motherson Sumi Systems Ltd board to consider interim dividend on Feb 28, 2020

NLC India Ltd updates on arbitration award

Lasa Supergenerics Ltd to acquire Harishree Aromatics and Chemicals Pvt Ltd

KSB Ltd launches FGD KWPK

Pee Cee Cosma Sope Ltd board declares interim dividend of Rs. 3 for FY2019-20

Sacheta Metals Ltd declares interim dividend of Rs. 0.20 for FY20

Alufluoride Ltd board declares interim dividend of Rs. 2 for 2019-20

Biocon's Insulin Manufacturing Facility in Malaysia gets 3 obsevations from U.S. FDA (PAI) inspection

PNB Housing Finance Limited's ratings downgraded to 'CRISIL AA/FAA+ / Stable'

UPL Corporation Ltd prices $400 million bonds

Dilip Buildcon Ltd executes EPC agreement with AAI for project in Gujarat

USFDA conclude inspections at Solara's Puducherry and Mangalore facility with zero 483 observations

Hind Rectifiers Limited gets 26930 Sq Mtrs land on lease from MIDC

Vesuvius India Ltd Board recommends Dividend of Rs. 8.74

M&M to sell clean energy subsidiaries to CLP India Pvt. Ltd.

Apollo Tyres Ltd board to consider preferential issue, interim dividend

Alkem's manufacturing facility at Baddi receives 2 observations from USFDA

Gulshan Polyols Ltd board declares interim dividend of Rs. 0.70

Vesuvius India Ltd Q4 PAT up at Rs. 22.70 crore

Strides Consumer announces its strategic entry into Northern India

Sahyadri Industries Ltd board declares interim dividend of Rs. 2.5 for FY2019-20

Anuh Pharma Ltd board declares interim dividend of Rs. 2.75 for FY20

PVR Ltd Opens Multiplex at Nilamber Triumph Mall in Vadodara, Gujarat

Chemcrux Enterprises Ltd Board to consider Interim Dividend on Feb 27, 2020

Muthoot Finance Ltd raises USD 550 million from International Bond Markets

TCS UK Named in The Sunday Times List of Best Big Companies to Work For 2020

USFDA reverses status of Aurobindo Pharma Ltd's general injectable formulation unit

Gujarat Alkalies and Chemicals Ltd commissions expanded capacity of Stable Bleaching Powder Plant at Dahej

Bajaj Holdings & Investment Ltd Board declares Interim Dividend of Rs. 40 for FY2019-20

Bajaj Auto Ltd Board declares Interim Dividend of Rs. 120 for FY2020

Bajaj Finserv Ltd Board declares Interim Dividend of Rs. 5 for FY20

Bajaj Finance Ltd Board declares Interim Dividend of Rs. 10 for 2019-20

Maharashtra Scooters Ltd Board declares Interim Dividend of Rs. 50

ICICI Lombard and realme Pay enter into strategic association for providing screen protection cover for realme phones

Ambuja Cements Ltd Q4 CY2019 consolidated PAT lower at Rs. 591.54 crore

ICRA revises long term rating of Indiabulls Housing Finance Limited

GMR Infrastructure Limited announces Strategic Partnership with Groupe ADP for Airports Business

Muthoot Finance Ltd announces pricing of USD 550 million 4.40% notes

UFO Moviez India Ltd board to consider interim dividend on Feb 27, 2020

Dr. Reddy's Laboratories Ltd receives EIR for Duvvada Formulations Plant

Dhanlaxmi Bank Ltd receives RBI nod for appointment of MD & CEO

Sharda Cropchem Ltd Board to consider Second Interim Dividend for FY20

Ambuja Cements Ltd Board recommends Dividend of Rs. 1.50 for CY2019

Plastiblends India Ltd board to consider interim dividend on Feb 25, 2020

Cyient Organizes Blood Donation Drive at its Hyderabad Campus

TCS Named as One of the Fortune Best Big Companies to Work For™ in 2020

India Infoline Finance Ltd raises $400 million

Ambuja Cements Limited appoints Mr. Neeraj Akhoury as new MD and CEO

Garware Technical Fibres Ltd to dispose business undertaking in USA

AstraZeneca Pharma India Ltd launches FDC of Dapagliflozin 10mg + Saxagliptin 5mg film coated tablets (QTERN®)







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019