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

| More

Bajaj Finance Limited launches industry-first Systematic Deposit Plan

Posted On: 2020-01-08 09:18:24

Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has launched Systematic Deposit plan - a monthly savings plan, for those looking to invest in Fixed Deposit through small monthly savings.

Starting at just Rs. 5000 per month, investors can reap the benefit of interest rates prevailing on the date of every monthly deposit, which are applicable to that particular deposit. With the number of monthly deposits ranging from 6 to 48, investors can choose tenors ranging from 12 to 60 months. At the end of tenor for each monthly deposit, the maturity amount, comprising the investment amount and earned interest, will be credited into their respective accounts.

Commenting on the launch Mr. Sachin Sikka, Chief Business Officer - Retail & Corporate Liabilities at Bajaj Finance Limited said: "Systematic Deposit Plan is a first-of-its-kind savings plan that will cater not just to the needs of mass affluent, but also tap into the pool of regular savers."

Here's what makes Systematic Deposit Plan a standout investment option.

1. Industry-first monthly savings plan in India

Systematic Deposit Plan by Bajaj Finance Limited, is a unique monthly savings plan that offers the convenience and benefits of a Systematic Investment Plan, sans the risk of negative returns. It is the best option for regular savers, who need not wait to accumulate a corpus to invest in a fixed deposit. Instead, they can save through Systematic Deposit Plan on a monthly basis.

2. Ease of investment

Regular savers can start saving with an amount of just Rs. 5000 each month with Systematic Deposit Plan. While the first payment is to be made via cheque, subsequent deposits are debited directly from an investor's bank account through a NACH mandate. Investors will also have the option to withdraw their savings pre-maturely anytime, just like any other Fixed Deposit with Bajaj Finance.

3. Loan against FD

For those who wish to access liquidity while maintaining the sanctity of the investment, Bajaj Finance allows for a loan against an FD that's ideal for short-term or unexpected needs.

4. Minimum documentation

Customers need to submit regular KYC documents to open an account along with a cheque and NACH mandate. A joint deposit account can also be opened under the Systematic Deposit Plan and it will follow the same guidelines as a regular Bajaj Finance Fixed Deposit. Depositors will need to make the first payment by cheque so that the bank account gets registered. Subsequent investments will be deducted from their registered bank account through NACH mandate.

5. No bounce charges

Another winning feature of Systematic Deposit Plan is that an investor doesn't have to pay any penalties on missing an installment. This makes it an ideal option for young savers who may often find themselves strapped for cash but still have a desire to invest.

With a core proposition to help young customers, such as first-jobbers, to invest just as easily as they would shop for a smartphone or laptop on EMI, Systematic Deposit Plan is a boon for investors who are looking to put every rupee of their monthly budget to good use.

Shares of Bajaj Finance Limited was last trading in BSE at Rs.4007.4 as compared to the previous close of Rs. 3998.2. The total number of shares traded during the day was 2612372 in over 6831 trades.

The stock hit an intraday high of Rs. 4092 and intraday low of 3999.4. The net turnover during the day was Rs. 10501815631.


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