As we enter a new year, we bring to you an exciting opportunity to invest in fixed deposits (FD) with exclusive benefits and special offers available only for early birds. With the central theme being digital FD investment, customers can now book their FD online through the Bajaj Finserv website or mobile application and benefit from attractive interest rates of up to 8.85% p.a.
In this article, we will discuss in detail the exclusive benefits and special offers that are available for initial digital FD investors on the Bajaj Finserv app and how digital FD investment has made banking more accessible and convenient for customers.
Benefits of Digital FD Investment
Digital FD investment has revolutionized the way customers bank as it offers them quick, simple, and convenient access to banking services from anywhere and at any time. Customers can now open an FD account online in a matter of minutes, without having to visit a bank branch. Here are some of the benefits of digital FD investment:
Accessibility:
Digital FD investment offers customers ease of access through the website or mobile application of Bajaj Finserv. Customers can open an FD account from anywhere in the world, anytime 24/7, and track their investments and earnings online.
Time-saving:
Digital FD investment eliminates the need for customers to visit a bank branch physically, saving them valuable time that can be used for other productive activities. Additionally, the online FD account opening process is quick and simple, taking only a few minutes.
Paperless:
Digital FD investment eliminates the need for paper documents, ensuring that the process is eco-friendly and sustainable. All transactions are conducted online, reducing the carbon footprint of banking activities.
Lower costs:
Digital FD investment eliminates the need for rent, utility bills, and other costs associated with operating a physical branch, making it a more cost-effective option for bank customers.
Enhanced security:
Digital FD investment provides customers with increased security as it ensures that their personal and sensitive information is secure. All transactions are conducted online through a secure platform, minimizing the risk of fraud or unauthorized access.
Exclusive Benefits and Special Offers for Early Birds
To encourage customers to take advantage of digital FD investment, Bajaj Finance is offering exclusive benefits and special offers to those who invest in FDs online through the website or mobile application. Here are some of the benefits of investing in FDs online as an early bird:
Attractive interest rates:
As an early bird, you can benefit from attractive interest rates of up to 8.85% p.a. when you invest in FDs online. These interest rates are higher than those offered by traditional FD investments, making it a more profitable option for investors.
No restriction on the amount:
There is no restriction on the amount investors can invest when they open an FD account online. Investors can invest any amount, making it a more flexible option for those who want to invest in FDs.
No penalty on premature withdrawal:
Investors who open an FD account online can enjoy the flexibility of withdrawing their funds prematurely without incurring any penalty charges.
Special offers for senior citizens:
Senior citizens can benefit from special offers when they invest in fixed deposits online. They can enjoy an additional interest rate of 0.25%, making it a more profitable investment option for them.
Digital fixed deposits work similarly to traditional fixed deposits. Investors need to open their digital fixed deposit accounts online and select the deposit amount, tenure, and payout frequency. Once the account is opened, investors can deposit their money into the account electronically through net banking or other payment modes. The interest is paid on a monthly, quarterly, or half-yearly basis, depending on the investor’s preference. At maturity, the principal and interest amount are paid back to the investor as per their payout option.
Why are digital fixed deposits gaining popularity?
Digital fixed deposits are gaining popularity in India because they offer several advantages over traditional fixed deposits. Firstly, digital fixed deposits can be opened and managed online, making them far more convenient than traditional fixed deposits that require investors to visit a branch. Investors can quickly and easily open an account, and manage their deposits anytime and anywhere through mobile apps or web applications.
Another advantage of digital fixed deposits is flexibility. These products offer more flexibility in deposit amount, the duration of the deposit and payout frequency than traditional fixed deposits. With digital fixed deposits, investors can choose the tenor of their deposit ranging from 12 months to 60 months and even choose the frequency of interest payouts. This makes it easier for investors to manage their finances and make the best use of their investments.
Digital fixed deposits are also out-competing their traditional counterparts in terms of interest rates. Digital fixed deposits offer higher interest rates, making them an attractive investment option for investors looking for safe and stable returns.
The digital platforms of NBFCs offering Fixed Deposits are also highly secure, with robust encryption technology and, in-depth cybersecurity measures. This means that investors can invest in digital fixed deposits without any concern about the safety of their investment.
The working mechanism of digital fixed deposits is similar to traditional fixed deposits. Investors can create their digital fixed deposit accounts online and choose the deposit amount, tenure, and payout frequency. Once the account is set up, investors can deposit money into the account electronically, using net banking or other payment mediums. The interest is paid at predetermined intervals, such as monthly, quarterly, or half-yearly, depending on the investor’s preference. At maturity, the principal amount plus interest is paid back to the investor based on their payout option.
What has contributed to the rising popularity of digital fixed deposits?
Digital fixed deposits are growing in popularity in India as they offer a range of advantages over conventional fixed deposits. Firstly, digital fixed deposits can be opened and managed online, making them much more convenient than traditional fixed deposits that require investors to visit a branch. Investors can quickly and easily open an account and manage their deposits anytime and anywhere using mobile apps or web applications.
Moreover, digital fixed deposits offer a greater degree of flexibility in deposit amount, deposit duration, and payout frequency when compared to traditional fixed deposits. Investors can choose the deposit tenor ranging from 12 months to 60 months and even select the frequency of interest payouts. This provides more control and helps investors manage their finances and investments more effectively.
Digital fixed deposits offer higher interest rates compared to traditional fixed deposits, making them an attractive investment option for those seeking safe and stable returns.
The digital platforms of NBFCs offering Fixed Deposits are also highly secure, using robust encryption technology and in-depth cybersecurity measures that ensure the safety of the investment.
In conclusion, digital fixed deposits offer a range of advantages that make them a viable alternative to traditional fixed deposits. Their increasing popularity is a testament to the growing demand for convenient and flexible investment options in India.
Conclusion
Digital FD investment has revolutionized the banking industry, making it more accessible, convenient, time, and cost-effective for customers. Some exclusive benefits and special offers offer an excellent opportunity for early birds to invest in digital FDs at attractive interest rates of up to 8.85% p.a. without incurring penalties on premature withdrawals.
Investing in fixed deposits online offers investors the flexibility and convenience of growing their wealth online, making it a more viable investment option. Taking advantage of Bajaj Finance’s special offers and exclusive benefits is an excellent way for early birds to make their money grow while enjoying a range of other perks.