If you have made specific financial resolutions and are thinking about starting your investment journey, here is the best monthly saving scheme for you – Systematic Deposit
As the financial markets continue with volatility, most risk-averse investors, like middle-class families, may look for safe avenues through which they can grow their funds. SDP is that avenue for you. It can serve you with capital safety and capital appreciation.
Have some insight on the SDP monthly saving plan
Systematic Deposit Plan
A Systematic Deposit plan is an efficient savings tool with the benefits of a regular fixed deposit investment launched by Bajaj Finance. You can earn guaranteed returns at a fixed rate of interest without investing a lump sum amount. It is like the Systematic Investment Plan (SIP) in terms of regular savings but without risk factors. Your funds will be in a stable environment, unlike SIP. You can choose an amount to be deposited as per your financial goals. Whenever you deposit SDP, each deposit will open a new FD account that provides you with fixed interest like Bajaj Finance FD.
Following is the elaboration on the features and benefits of SDP for better understanding:
1. Interest Rates
SDP is the only of its kind investment avenue with high interest rates like FDs even without depositing a considerable amount. Each deposit you made would earn fixed returns as per the prevailing interest rate at the time of booking the deposit, depending on the customer category, i.e., senior/non-senior citizen. At present, Bajaj Finance FD interest rate is up to 7.25%, which is quite lucrative.
For your convenience, the Bajaj Finance SDP calculator is available for automatic calculations of interest. It will help you how much you should invest to meet your financial goals.
2. Investment Amount
As it is already mentioned that SDP is introduced for regular monthly savings, you can start investing via SDP with just Rs. 5,000. Therefore, even a young investor who just started to earn or simply on an individual on a budget can start investing. Investment experts always recommend investment at an early age. You can increase the investment amount as per your financial resolutions.
3. Investment Tenor
SDP is a flexible investment plan. You can choose the right tenor from 12 to 60 months as per your financial goals. The contributions to an SDP will be beneficial for every investor, whether you are looking to develop a healthy savings habit or save and grow your funds for a long-term goal like children’s education, marriages, retirement corpus, etc.
4. Number of Deposits
You can decide how many deposits you want to make. You can pick a number from 6 – 48 to make deposits. It is your choice if you wish for every deposit to be matured at a single date through the single-maturity scheme option or at different dates through the monthly maturity scheme.
5. Hassle-Free Deposits
You need to make the first payment through cheque to register your bank account. And later, each monthly deposit will be debited automatically from your bank account. The complete process is hassle-free.
6. Premature Withdrawal Facility
SDP offers liquidity that an investor can utilize in case of a financial urgency. If you need finance urgently, you have the option to withdraw a deposit before the maturity date. It is a convenient feature for middle-class families as they can use their money for an easy life.
Thus, in a nutshell, Bajaj Finance SDP facilitates investors with –
- Small monthly savings starting with as little as Rs.5,000
- Easy withdrawal facility and loan against deposits facility
- Guaranteed Returns at a fixed rate or returns up to 7.25%.
- Highest stability and credibility
- Easy, quick, and hassle-free online processing
All these benefits make a middle-class family include the Bajaj Finance SDP in their investment portfolio.