EntertainmentTechnology

Why should choose Bajaj Finance for Systematic Deposit Plan?

Why should choose Bajaj Finance for Systematic Deposit Plan?

Why should choose Bajaj Finance for Systematic Deposit Plan?

Due to the uncertain conditions that prevail in the market today, many investors might think and worry about growing their corpus. Also, in these testing times, many individuals have learned the importance of saving enough money for the future. Those who have not saved enough money for the future can prefer investment options like the Systematic Deposit Plan that helps them to collect a sizable corpus through efficient and timely savings. 

What is an SDP Plan?

SDP i.e. Systematic Deposit Plan is a monthly saving scheme introduced by Bajaj Finance. By option for this investment plan, an investor can start investing with a meager Rs. 5000 every month. Also, if possible, he can invest in multiples of Rs. 5000 every month. The number of such monthly deposits can vary from 6 to 48 as per the choice of the investor. 

SDP comes with two variants viz. Monthly Maturity Scheme and Single Maturity Scheme. As per the Monthly Maturity Scheme, one needs to select the same lock-in period for every deposit. The lock-in period can be between 12 and 60 months as per the investor’s convenience. 

This variant provides a series of maturity proceeds that can be used for covering the regular expenses of an investor. Or else, these proceeds can be reinvested in another SDP for multiplying the returns further.

The Single Maturity Scheme gives investors the liberty to choose a single maturity date for all the deposits. Therefore, only the first deposit will be locked in for the entire tenor whereas the lock-in period of the subsequent deposits will be adjusted according to the final maturity date. 

This variant is ideal for the investors who want to collect a corpus for attaining financial objecting or for future investment goals. 

How to invest in an SDP?

Investing in SDP is quite easy as Bajaj Finance has provided an online SDP form for the same. One can fill this form with the necessary details and share the CKYC number for the document verification procedure. 

Upon completion of the formalities online, one needs to make the payment for the first deposit via cheque and a NACH mandate can be set for the remaining deposits. A deposit date of 3, 7, or 12 can be chosen for the deposits. 

Benefits of investing in an SDP

Some of the key benefits of investing in SDP are given below:

Grow savings with a minimum amount 

An investor does not have to deposit a huge amount in an SDP as only Rs. 5000 is sufficient to start investing in it. The deposits will grow at an interest rate that is applicable on the deposit date and will fetch enough returns at maturity. 

Therefore, it is an ideal investment opportunity for those who do not have a large corpus to invest in and for those who have started earning newly. 

Inculcates discipline of savings 

The Systematic Deposit Plan from Bajaj Finance inculcates the habit of saving and that also in a disciplined manner. New earners can invest in this deposit plan to collect a corpus good enough to suffice their future investment needs and goals. On the other hand, seasoned investors can use it to diversify their investment portfolios. 

Safety of deposits 

It is a safe investment platform and this can be confirmed by checking the high credit ratings that it has received from credit rating agencies like CRISIL and ICRA. 

Also, investors may avail a loan against SDP deposits to fund their emergency fund needs. Its withdrawal policies are also not complicated and regressive as they allow an investor to withdraw the deposits prematurely once they have completed 3 months from the deposit date. 

Summary 

The uncertainty prevailing in the economy has made the investors rethink their investment strategies. Also, those who don’t have a sufficient corpus to invest in an instrument can invest their monthly earnings in an SDP. SDP or Systematic Deposit Plan is a monthly saving scheme introduced by Bajaj Finance. It allows investors to invest in multiples of Rs. 5000 every month and the deposit number can be anywhere between 6 and 48 as per the investor’s choice. Apart from providing considerable returns, this plan inculcates a habit of saving among the investors. Moreover, it is also a stable instrument as credit rating agencies like CRISIL and ICRA have given it high ratings for securing the investment of depositors.

The post Why should choose Bajaj Finance for Systematic Deposit Plan? first appeared on Tekrati and is written by gauravkhanna921

Tags

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close