Single Maturity Scheme under Systematic Deposit Plan (SDP) assures returns on monthly savings pool
Mumbai (Maharashtra) [India], Aug 10 (ANI/NewsVoir): Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has now introduced a new Single Maturity Scheme variant under Systematic Deposit Plan (SDP).
ANI
Aug 10, 2020 13:21 IST
Mumbai (Maharashtra) [India], Aug 10 (ANI/NewsVoir): Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has now introduced a new Single Maturity Scheme variant under Systematic Deposit Plan (SDP).
Single Maturity Scheme variant under the SDP allows the investors to receive maturity benefits of the plan on a single day, for the investment corpus built over a time.
Investors can start building their corpus with monthly deposits starting at Rs 5,000. They can also choose tenures ranging from 12 to 60 months and raise a lumpsum amount with bite-sized contributions every month.
This unique, industry-first feature allows investors to save small amounts every month and so, does away with the requirement for one, large initial deposit.
Though the concept of an SDP runs parallel to that of a Systematic Investment Plan (SIP) in many ways, Systematic Deposit Plan (or SDP) is a safer option as it pertains to an instrument that carries no risk.
Read on to learn more about the Single Maturity Scheme under Systematic Deposit Plan-
High Stability and Credibility
A Systematic Deposit Plan with Bajaj Finance is one of the safest deposit options for investors. Bajaj Finance FD is accredited with the high credit ratings from CRISIL and ICRA. Hence, the investments are at lowest risk.
Get guaranteed returns on monthly deposits
As a variant of Systematic Deposit Plan by Bajaj Finance Limited, Single Maturity Scheme offers the convenience and benefits of a Systematic Investment Plan (SIP), without risk of negative returns. Investors need not wait to accumulate a corpus to invest in a fixed deposit, as they can save easily on a monthly basis and get their returns on a single day.
Ease of savings
With deposits of just Rs. 5,000 each month, investors can start building a corpus for their short-term goals. While the first payment is to be made via cheque or online payment, subsequent deposits are debited directly from an investor's bank account through a NACH mandate.
Get all returns on a single day
The Single Maturity Scheme works best for those looking to raise a lumpsum amount with bite-sized contributions every month. Investors can choose tenures from 12 to 60 months. They even have an option to choose any one of these three days to make their monthly deposit - 3rd, 7th or 12th. However, the date they choose once, will remain fixed for the rest of the deposits.
No bounce charges
Like the previously launched Monthly Maturity Scheme variant of Systematic Deposit Plan, another winning feature of Single Maturity Scheme variant is that no penalty will be levied by Bajaj Finance, if an investor misses their monthly deposit.
The Single Maturity Scheme variant is a boon for young investors as it offers the best of both worlds, with the convenience of SIPs and safety of fixed deposits. However, apart from allowing investors to benefit from a range of regular FD features, SDP lets the investors start small through bite-sized deposit amounts. Save with Systematic Deposit Plan to move from being a regular saver to a super saver.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
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