Makar Sankranti, a festival that marks the transit of the sun into the zodiac Capricorn, is one of the first festivals to be celebrated in the new year. In some parts of the country, it’s celebrated as a harvest festival and in other parts, as a festival in which adults and kids alike enjoy flying kites.
Over the years, it has become a day that holds importance in different ways for different people. But did you know that Sankranti holds significance when it comes to your finances too? If you’re wondering how, take a look at all that you can learn from this festival about investing in a Bajaj Finance Fixed Deposit for a financially secure 2020.
Keep your goals in mind to invest efficiently
Makar Sankranti is known by more than a handful of names but it is considered to be an auspicious day because of the transit of the sun. When it comes to your investments, regardless of the name of the scheme you choose, it’s important to know why you’re investing in it. This means that you must pay close attention to your goals and objectives when investing, so that you tailor your investment to offer returns that will help you achieve them.
A Bajaj Finance FD is ideal when you’re working towards a goal as it offers a fixed rate of interest: 8.35 per cent for senior citizens and 8.10 per cent for regular customers. Consider this table to know how you can match the maturity proceeds to your goals.
| Investor type | Deposit | Interest rate | Tenor | Maturity proceeds |
| Regular | Rs.10,00,000 | 8.10% | 5 years | Rs.14,76,143 |
| Senior | Rs.10,00,000 | 8.35% | 5 years | Rs.14,93,291 |
Count on longer durations for better yields
With Makar Sankranti, the winter solstice draws to a close, and longer summer days commence. In terms of your FD investment, remember that longer is better! When you stay invested for a lengthy duration, your corpus benefits manifold as you draw benefits of compound interest. When you choose a Bajaj Finance FD, interest rates peak when you have a tenor of at least 3 years. So when you plan your investment using the FD calculator, make sure to pick a long tenor for better returns.
Consider this table to understand the difference the tenor makes to your net earnings, when you invest Rs. 20 lakh as a regular investor for 1, 3, and 5 years.
| Deposit | Interest rate | Tenor | Interest earned | Maturity proceeds |
| Rs.20,00,000 | 7.6% | 1 year | Rs.1,52,000 | Rs.21,52,000 |
| Rs.20,00,000 | 8.10% | 3 years | Rs.5,26,429 | Rs.25,26,429 |
| Rs.20,00,000 | 8.10% | 5 years | Rs.9,52,286 | Rs.29,52,286 |
To benefit from a long tenor, you can also opt for the Auto-Renewal facility. It renews your deposit upon maturity without manual intervention and offers you a renewal bonus amounting to 0.10 per cent extra interest too!
Stay safe so that you can fly high for longer
Makar Sankranti is celebrated by flying kites. Experience will tell you that a secure grip and a conducive environment is essential to keeping your kite flying high long after the other players have accepted defeat. With Bajaj Finance, you can enjoy just this. You benefit from a stable environment and can look forward to a default-free experience. The FD holds an FAAA rating by CRISIL and MAAA by ICRA, which are the highest credibility ratings. Moreover, Bajaj Finance is the only Indian NBFC to carry the international rating of ‘BBB-’ by S&P Global. This means that your finances will soar in 2020, without you having to take on undue risk.
Mark dates to benefit from good financial management
As it follows a solar calendar, Makar Sankranti is one of the few festivals in the country that falls on approximately the same date every year. When it comes to your investments, regularity is a great trait to possess as consistent investments will help you strengthen your finances exponentially.
A way in which Bajaj Finance simplifies this is by allowing you to make periodic deposits. Instead of saving a lumpsum to start investing in an FD, you can opt for its Systematic Deposit Plan and set aside as little as Rs. 5,000 every month! You can contribute bite-sized amounts in an automated fashion on the 3rd, 7th, or 12th of every month, choose the number of deposits you’d like to make, as well as the tenor for your deposits!
If your new year resolution is to supercharge your savings, this tool is the best way to achieve your goal! By laddering FDs through the SDP feature, you can not only create wealth steadily, but also secure periodic liquidity. Opt to make 6–48 deposits and choose a tenor of 12–60 months to get started.
Makar Sankranti marks a time of change and a time to make a positive financial. Simply book a Bajaj Finance online FD by filling a short form. Better your financial health by getting assistance from a Bajaj Finance executive in setting up a winning investment.
Disclaimer: This is featured content. No Deccan Chronicle Group journalist is involved in creating (Bajaj Finance) this content. The Group also takes no responsibility for this content.
