Chennai: Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, announced the launch of systematic deposit plan – a monthly savings plan, for those looking to invest in fixed deposit through small monthly savings. Starting at just Rs 5000 per month, investors can reap the benefit of interest rates prevailing on the date of every monthly deposit, which are applicable to that particular deposit, said a press release.
With the number of monthly deposits ranging from six to 48, investors can choose tenors ranging from 12 to 60 months. At the end of tenor for each monthly deposit, the maturity amount, comprising the investment amount and earned interest, will be credited into their respective accounts, the release noted. Commenting on the launch Bajaj Finance Limited Chief Business Officer – Retail and Corporate Liabilities, Sachin Sikka said, ‘Systematic deposit plan is a first-of-its-kind savings plan that will cater not just to the needs of mass affluent, but also tap into the pool of regular savers.’