Pune, Maharashtra, August 6 — Bajaj Markets, an online financial marketplace, is providing a valuable tool for parents planning their children’s education. The platform has teamed up with leading issuers to offer Fixed Deposits (FDs) with interest rates up to 9.40% per annum. This savings option can help parents save for educational costs such as books, supplies, tuition fees, accommodation, and travel.
Fixed deposits are low-risk investments with a guaranteed interest rate for a set term. Here’s how FDs can benefit parents and students:
Guaranteed Returns: FDs offer reliable returns, aiding parents in budgeting for major educational expenses like tuition and study materials.
Flexible Tenure: Tenure options range from 7 days to 10 years, allowing parents to match their investments with their child’s educational milestones.
Higher Interest Rates: FDs typically offer better interest rates than savings accounts, promoting more substantial growth of savings for higher education.
Interest Payout Options: Choose from monthly, quarterly, half-yearly, or annual payouts to manage tuition and living costs based on the deposit amount.
Loan Against FD: In case of financial emergencies, loans against FDs provide quick access to funds, ensuring financial security for unforeseen educational expenses.
For example, investing ₹1,00,000 in an FD with a 9.40% interest rate for 5 years could generate ₹53,862 in interest, resulting in a total maturity amount of ₹1,53,862. This predictable growth aids in planning for significant educational costs. Parents can use an FD calculator to estimate the maturity amount and total interest earned.
Parents can easily choose a fixed deposit that meets their financial goals by exploring FD interest rates on Bajaj Markets. To get started, visit the official Bajaj Markets website or download the app.
Bajaj Finserv Direct, a subsidiary of Bajaj Finserv, is among India’s fastest-growing fintech companies. It operates through two primary divisions: Bajaj Markets, a financial marketplace, and Bajaj Technology Services, a techfin service provider.
Bajaj Markets offers a wide range of financial products, including loans, cards, insurance, investments, payments, pocket insurance, and value-added services. The platform partners with trusted financial brands to provide a comprehensive financial solution in “India ka Financial Supermarket.”
In addition to its fintech roots, Bajaj Finserv Direct has established a strong presence in techfin. Through Bajaj Technology Services, it offers an array of digital technology services, including custom and enterprise applications, data and analytics, AI, cloud services, and digital agency solutions.