Bajaj Finance Limited introduces Single Maturity Scheme under Systematic Deposit Plan
Bajaj Finance Limited introduces Single Maturity Scheme under Systematic Deposit Plan
cityairnews
Aug 5, 2020 04:28
0
Depositors to receive maturity benefits on a single day
Pune: Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has introduced a new Single Maturity Scheme variant under the Systematic Deposit Plan (SDP). The Single Maturity Scheme allows the depositors to receive maturity benefits of the plan on a single day, for the investment corpus built over a time with Systematic Deposit Plan (SDP). Depositors can start building their corpus with monthly deposits starting at Rs 5,000 per month.
Depositors using the scheme, can choose tenures ranging from 12 to 60 months and raise a lumpsum amount with bite-sized contributions every month. The depositors also benefit from placing each deposit at interest rates prevailing on the date of each deposit, over the complete tenure. Once the first deposit is booked for a specific tenure, the tenure for every subsequent deposit will be regulated to mature on the same date.
For this scheme depositors need not wait to accumulate a corpus to investment in a fixed deposit as they can save easily on a monthly basis and get returns on a single day. The scheme comes as boon for young investors who have a strong desire to invest but often find themselves short of cash.
Commenting on the launch, Mr. Sachin Sikka, Chief Business Officer - Retail & Corporate Liabilities at Bajaj Finance Limited said: “The Single Maturity Scheme variant will prove fruitful for regular savers, by helping them get guaranteed returns on monthly savings’ pool.”
