Pune (Maharashtra): As the start of the year is the best time to plan your finances, in 2020, why not resolve to make your salary go the extra mile for you? As you continue to earn a regular income, take investing seriously to grow your wealth throughout the year.
However, remember that negative returns are a reality and to ensure that you better your financial health, it's best to pick a stable avenue. For instance, Bajaj Finance Fixed Deposit is immensely beneficial, as you earn interest at an attractive rate of up to 8.35 per cent. Moreover, ICRA's and CRISIL's highest stability ratings, MAAA and FAAA, are proof that your money will be safe and sound.
Read on to know why investing in this Fixed Deposit offered by Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, is the best way to use your surplus salary in 2020:
Start investing with a minimum deposit of Rs 25,000
Whether you're a first-jobber or an experienced investor, the journey to multiplying your wealth with Bajaj Finance is easy and accessible. You only need only Rs 25,000 to begin investing and grow your wealthy rapidly. To understand what's in store, consider the following example, where you invest Rs 10 lakh and Rs 20 lakh for a tenor of 36 months.
Take advantage of a flexible tenor to amplify gains and achieve your goals
Bajaj Finance allows you to choose from a 12 to 60-month tenor depending on your short and long-term goals. Longer tenors come with higher interest rates and also amplify the effect of compound interest. To understand this better, consider the following table where returns for a regular investor are illustrated, assuming that you invest a sum of Rs 20 lakh for tenors of one, two and three years.
The ROI figures above are indicative of the extent to which you can multiply your salary. Further, when you're growing your wealth, the flexible tenor lets you align your investment to your financial goals, so that you get the desired liquidity at every step of the way.
Stay invested for higher gains with the Auto-Renewal facility
To achieve long-term goals and further grow your wealth, opt for the Auto-Renewal feature when opening your FD. This allows you to reinvest your proceeds for another term without manual intervention. Apart from being convenient, it offers a renewal bonus. Moreover, the benefits of compound interest are higher when you stay invested for longer. When they come together, both these factors greatly aid wealth multiplication.
Opt for the Multi-Deposit facility and ladder your deposits
To use FDs to finance various aspects of your life, consider laddering FDs through the Multi-Deposit feature. It allows you to open several deposits, of varying amounts, tenors and payout frequencies, via a single cheque. This way you can enjoy the power of compound interest to the fullest, while also gaining timely liquidity. Even if you need to make a premature withdrawal, you don't have to disturb more than one deposit.
Having considered how you can make your salary work for you with the Bajaj Finance FD, invest today via cheque, NEFT, net banking or debit card. Also remember that if a lump sum investment isn't feasible at the moment, you can utilise the Systematic Deposit Plan to invest a small amount, as little as Rs 5,000 each month.
Regardless of which route you opt for, before you invest, use the FD calculator to accurately forecast your earnings. Then, book a call with a Bajaj Finance representative to start investing and enter 2020 on a sound financial note!
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.