Fixed deposits (FDs) have long been a popular investment choice for Indian investors. FDs offer a guaranteed return on investment, making them a low-risk investment option. Bajaj Finance Digital FDs, in particular, have gained immense popularity in recent years due to their attractive interest rates, hassle-free online application process, and flexible payout options. Additionally, Bajaj Finance now offers a loan against FD, providing investors with a financial cushion when needed. In this article, we will explore how Bajaj Finance’s loan against FD can help you in times of financial need.
What is a Loan Against FD?
A loan against FD is a type of loan provided by financial institutions, where investors can borrow money against their FDs. The loan is granted at an interest rate that is lower than that of personal loans, making it an affordable option. The loan amount available for borrowing is typically a certain percentage of the FD’s value, usually around 80-90%.
Why Choose Bajaj Finance Loan Against FD?
Bajaj Finance’s loan against FD offers several benefits, including:
– Lower Interest Rates: The interest rates offered on Bajaj Finance’s loan against FD are typically lower than those of personal loans and credit cards. This makes it an affordable option for investors who need financial assistance.
– Quick Disbursal: Bajaj Finance’s loan against FD is disbursed quickly, usually within 24 hours of application approval. This makes it an ideal option for investors who need money urgently.
– High Loan Amount: Bajaj Finance offers a high loan amount against FD, usually 80-90% of the FD’s value. This provides investors with a significant amount of financial cushion when needed.
– No Need to Break FD: To avail of a loan against FD, there is no need to break the FD. This means that the investor can continue to earn interest on their investment while still having access to the required funds.
– Flexible Repayment Options: Bajaj Finance provides flexible repayment options, allowing investors to choose their repayment tenure. This provides investors with the flexibility to repay the loan in a manner that suits their financial needs.
How to Avail of Bajaj Finance’s Loan Against FD?
Availing of Bajaj Finance’s loan against FD is a simple process, and investors can apply for the loan online through the Bajaj Finserv app or website. The steps involved are as follows:
- Apply Online: Visit the Bajaj Finserv website or download the app and fill out the online application form for a loan against FD.
- KYC Verification: Once the application is submitted, the KYC verification process is initiated. This is done to ensure that all the information submitted is valid and the investor is eligible for a loan.
- Approval and Disbursal: After verification is completed, the loan is approved, and the amount is disbursed to the investor’s account, usually within 24 hours.
- Repayment: The investor can choose their repayment tenure and make repayments as per the chosen plan.
Why Choose Bajaj Finance Digital FDs for Loan Against FD?
Bajaj Finance Digital FDs are a perfect fit for investors looking for a low-risk investment option with high returns. Additionally, Bajaj Finance’s loan against FD is only available for digital FDs booked online through the Bajaj Finserv app or website. The following are some benefits of choosing Bajaj Finance Digital FDs for a loan against FD:
– Attractive Interest Rates: Bajaj Finance offers some of the highest interest rates in the market on FDs, with rates up to 8.85% per annum. The higher interest rate makes the FD better collateral security, leading to lower interest rates on loans against the FD.
– Easy and Hassle-free Investment: Bajaj Finance Digital FDs require minimal documentation, and the investment process is hassle-free. Investors need to register on the Bajaj Finance website or download the Bajaj Finserv app and follow the simple steps to book an FD.
– Secure Digital Platform: With Bajaj Finance’s online FD investment platform, investors can be assured of the complete safety and security of their investments.
Different Payout Options
Bajaj Finance provides multiple options for the payout of returns on the investment. Customers can choose between monthly, quarterly, half-yearly, or yearly payout options, depending on their financial needs. This allows investors more flexibility in managing their finances and choosing the options that best suit their requirements.
Premature Withdrawal and Loan Options
Bajaj Finance allows customers to withdraw their investment prematurely and avail of a loan against their FDs at attractive rates. This option can be accessed in case of an emergency or any unexpected financial requirement. The loan option also allows you to fulfil financial goals such as home renovation, children’s education, or any other major expenses.
Bajaj Finance 2023 FD Offer
Bajaj Finance has recently launched a new FD offer for the year 2023, aimed at providing investors with even more benefits and flexibility. The new FD offer includes:
– Special Interest Rates: Bajaj Finance is offering special interest rates that are higher than the prevailing interest rates on FDs. The rates are applicable for investments made via the Bajaj Finserv app or online.
– Exclusive Benefits: Investors who invest in Bajaj Finance Digital FDs through the app will be eligible for exclusive benefits such as cashback offers, discounts on investments, and other rewards.
– Longer Tenure Options: Bajaj Finance is providing investors with longer tenure options of up to 84 months. This allows investors to earn higher returns on their investments while still maintaining a low-risk profile.
– Higher Maximum Investment Limit: Bajaj Finance is increasing the maximum investment limit to Rs. 10 crore, which is higher than the current limit of Rs. 5 crore. This provides investors with the flexibility to invest larger sums of money and earn higher returns.
– Simplified Application Process: Bajaj Finance has streamlined the digital FD application process, making it even easier and hassle-free for investors to invest in FDs through the app or online.
Conclusion
Bajaj Finance Digital FDs provide investors with a low-risk investment option with high returns. Additionally, Bajaj Finance’s loan against FD can offer a financial cushion when required, making it an ideal option for investors. The loan against FD provides investors with a loan at a lower interest rate than personal loans, making it an affordable option. With the Bajaj Finserv app, investing in Bajaj Finance FDs has never been easier. Investors can easily apply for a loan against FD and enjoy the benefits of hassle-free online investment. So, why wait? Invest in Bajaj Finance Digital FDs and enjoy the benefits of a loan against FD when needed.