Category: Business Articles Samples

Short term fixed deposit investments had gone down by 3.25% during the demonetisation in the financial year 2017. Interestingly, this rate has come up over the following years with fixed deposits investments currently contributing the lion’s share of basic statistical returns of financial institutions. With numerous investors choosing fixed deposits as their mode of investment, it is important that they also understand the different benefits which are offered.

Numerous financial institutions offer these secured investment options. Only a few like Bajaj Finance Fixed Deposits have additional benefits that make the investments especially advantageous. These features must be understood properly to avail the maximum benefits under these investment plans.

• High returns: Fixed deposit investments offer high returns to their investors. Any investor opting to invest with Bajaj Finance can avail high returns, which goes up to 8.10% per annum. Numerous factors determine this rate of interest on FDs. It generally includes the age of the investor, existing accounts with the financial institution, etc. Even NRI deposits are offered at high interest rates, provided they fulfil the necessary criteria.

• Low minimum deposit amount: As an investment option, fixed deposit accounts are exceptionally secure. This security makes it a good investment option especially for mid-level earners who do not have to worry about the losses. Consequently, a low minimum investment amount beginning at Rs.25,000 is offered by this NBFC so that any interested individual can invest in these schemes. It can go up to Rs.5 crore.

• Easy renewal: Easy renewal options allow investors to extend their fixed deposit investment tenor, thereby increasing the profit margin. Potential investors who can plan their finances well ahead can also opt for auto-renewal facility. This feature allows an individual to avoid the hassle of applying for renewal by essentially activating it while investing the first time.

• Option for multi-deposit: Bajaj Finance Fixed Deposits allow investors to invest in multiple fixed deposit accounts using a single cheque. Essentially, this saves the hassle of handling numerous cheques and financial details. Additionally, in case the investor requires financial aid suddenly, they can simply withdraw one account. This allows other investments to stay intact and generate revenue.

• Loan options: An exclusive feature offered by only a few financial institutions, Bajaj Finance allows investors to avail high-value loan amounts against their fixed deposit accounts.

Usually, the loan amount that is offered goes up to Rs.4 lakh. It is helpful because while the investment is intact on one hand, investors can still avail financial aid in cases of emergencies. It is important that investors understand how a loan against FD works before applying for this line of credit.

• Easy application: The application procedure along with several payment options ensure that investors do not have to go through any hassle while they invest their money. Investors can simply apply online to open a Bajaj Finance FD.

Additionally, numerous payment options allow investors to choose the most convenient method for themselves. Even NRI deposits can be easily availed as only a few additional documents are required.

• Convenient tenor option: Investors can choose a convenient tenor for their investment since flexible tenors are offered by this financial institution. They have the option to choose any length of duration for the maturity of their FD account, ranging from 1 year to 5 years.

• Senior citizen and existing customer benefits: Bajaj Finance Fixed Deposits are offered with additional perks and benefits for senior citizens and existing customers.

While potential investors can check out the benefits of Bajaj Finance Fixed Deposits, they should also make it a point to calculate the exact revenue that can be generated on their investment. It is easy to calculate the total amount they will get at the time of maturity by using an online fixed deposit calculator.

Any potential investor worried about how to use Bajaj Finance FD calculator should be assured of ease of use. This allows investors to plan their finances based on accurate details of their revenue generation.

Author Bio:
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at HighlightStory

The Employment Provident Fund (EPF) is considered as one of the safest methods to create an accumulated corpus of savings throughout their employment. This savings scheme includes contribution both from the employer and the employee’s end, meant to fund the financial requirements of individuals post-retirement.

Applicants who wish to withdraw from their EPF account after retirement can enjoy the total PF balance along with the employer’s contribution and the accrued interest. Senior citizens can re-invest their acquired corpus in FDs and manage their finances judiciously. It stands as the most recommended investment schemes for senior citizens thanks to the lucrative features and benefits on offer. Financial institutions and NBFCs offer a special interest rate on the prevailing rate and can reap best returns on their invested money.

Things to know about EPF withdrawal

An individual, who wishes to withdraw his PF account, for the sake of not transferring his account while switching his job should be aware of specific steps, following which one, can easily withdraw their EPF balance. EPF Withdrawal process can be achieved in two ways – online mode and offline mode.

To withdraw the EPF amount online, the account holder needs to make sure if the UAN number needs to be activated first. A common issue faced by most individuals, they can easily do so by submitting the KYC documents and updating them on the EPFO portal.

In most cases, the UAN number is provided to the employee on their salary receipts by the employer. Individuals who do not have their UAN number activated can follow easy steps mentioned below –

• The individual has to visit the EPFO website and click on the “For Employers” option.
  Click on to the “Our Services” tab.
• On the device screen, under “our services” segment, the option “Member UAN/Online services” will be displayed, the individual has to click on to that, to get redirected on the UAN portal and click on to “Activate your UAN.”
• The applicant would be provided with an application form which he has to fill and generate the access pin to activate their UAN number.
• The applicant will receive an SMS from EPFO confirming the successful completion of the UAN activation process.
• The individual has to note down the authorized PIN provided to them through SMS to access their EPF account.
• Using a UAN number on the EPFO portal, the applicant has to file for his EPF withdrawal claim.

Steps for online withdrawal of EPF account

The online procedures to withdraw EPF balance online are elucidated below –

• The applicant has to login to the EPFO portal and enters their UAN number and password.
  After the verification of the KYC documents by clicking on the “manage” tab, the applicant has to visit the “our services” tab and click on to the “claim “option.
• After this the applicant will be given options to choose among the types of withdrawals he/she would want to avail; the applicant has to select between partial or full withdrawal according to their preference. On that note, the types of withdrawal will be displayed on the screen only if the applicant is eligible to avail the options.
• The claim request will be directed to the employer for approval.  The amount will be credited to the account of the applicant within 10 days of the employer’s consent.

Applicants after their EPF withdrawal can find ways to strengthen their finances, by re investing their collated amount in fixed deposits. It offers an interest rate that is higher than other savings schemes, along with an added rate per cent for the senior citizens.

Financial institutions and NBFCs like Bajaj Finance offers Fixed Deposit with up to 8.70% return that helps in a steady growth of the corpus together with a fixed interest rate.  It also facilitates the investors with an option to withdraw their amount before the end of the tenor or take a loan against the deposit to meet their financial requirements.

The applicant, instead of choosing EPF withdrawal, can opt for partial recovery of the amount from the account to avail immediate financial assistance. Partial EPF withdrawal is approved and permitted by the EPFO department only on specific occasions, including –

• Marriage.
• Face-lifting of residential space.
• Higher education.
• Repayments of loan debts.
• Construction of living spaces.

Individuals should not delay in initiating the process of PF withdrawal after quitting their job, to avoid unlawful confiscation of their savings due to adulteration and forgeries.