A child’s education is a major pie of your investment. Research and studies reveal that educating your child from primary school to college would cost Rs. 42 million in the next 20 years. With educational costs increasing ever year at enormous rates, educating children is becoming very expensive.
The situation does not get better, as you go higher. A two-year course in Indian Institute of Management (IIM) can go up to 22 lakhs. There’s been about a 400% increase in the fees, from what it was, in the past few decades. Those aspiring for admissions in the Indian Institute of Technology (IIT) are faced with the same predicament.
The mounting fee structure in schools has compelled parents to look for better opportunities in terms of loans, so they can start covering the tuition fees, for their children. With prior planning, investing in a Bajaj Finance Fixed Deposit can help parents set aside a respectable corpus to educate their children.
By investing in a Bajaj Finance Fixed Deposit, parents can earn higher returns than a savings account, which are fixed and guaranteed. Learn more about how a Bajaj Finance Fixed Deposit can help in planning a better future for your child.
Return on Your Investment
Bajaj Finance offers an attractive interest rate of 8.60% to new customers, and up to 8.85% to existing customers. For senior citizens, this interest rate goes up to 8.95%. If you invest in a Bajaj Finance Fixed Deposit for up to 5 years, you can make returns, which can be equivalent to about 50% of the amount you’ve invested.
For example, if you invest Rs. 5,00,000 with a Bajaj Finance FD for 5 years, you can make returns of up to Rs. 2,55,299. Similarly, if you invest an amount of Rs. 25,000 in a Bajaj Finance FD for 5 years, you can make returns of up to Rs. 12,765.
Using the Bajaj Finance Fixed Deposit Calculator, you can compute the returns you earn, by entering basic details. This can help you plan your finances in a better way, so you can grow your savings easily.
Tenor
When investing in a Bajaj Finance Fixed Deposit, you can choose a tenor ranging from 12 to 60 months. You can select the sum, and tenor that matches your tuition fees and expenses related to extracurricular activities.
Minimum Deposit of Rs. 25,000
Parents can start investing in a Bajaj Finance Fixed Deposit with just Rs. 25,000, which makes it possible to start investing immediately.
Stable Rating
Bajaj Finance Fixed Deposit has the highest credibility ratings of MAAA (stable) rating by ICRA, and FAAA/Stable rating by CRISIL. This ensures that your investments are safe, and you can be assured of guaranteed returns on your investment.
Flexible Payout Options
There are both cumulative and non-cumulative options available. In the cumulative option, of the Bajaj Finance Fixed Deposit scheme, the interest is payable at the time of maturity along with the principal. It is compounded annually.
While in Bajaj Finance non-cumulative Fixed Deposit scheme, the interest is paid out at different intervals – monthly, quarterly, half-yearly, or annually. It is ideal for individuals who need to pay the school fees, and other educational costs.
Amid rising education costs, parents need to start securing their child’s future with a Bajaj Finance Fixed Deposit. Invest now, and reap the benefit of hassle-free investing and online account management.