By placing your money in a fixed deposit, you can earn interest for a predetermined period of time. If you selected a cumulative FD, you will receive your invested funds back at maturity along with any accumulated interest. If, however, you selected a non-cumulative FD, the principal and interest amount will be paid to you in accordance with the payout option you selected.
If you wish to continue getting competitive interest rates, as par with market, on your investment, you can decide to renew your FD. Bajaj Finance Limited gives you the freedom to select the renewal plan, the reinvestment amount, and the tenure to maximise the returns on your savings. You can renew your fixed deposit up to 24 hours before the maturity date.
Renew your Bajaj Finance Fixed Deposit
Let us elaborate the process of how you can complete the renewal in a few steps.
Visit My Account on the Bajaj Finance website
Enter your registered mobile number in the pop-up that appears and submit the OTP to sign-in.
Verify your details by entering your date of birth.
Choose your fixed deposit from ‘My Relations‘.
Click on the ‘Renew your FD’ option from the ‘Quick Actions‘ section.
Check your existing FD details and click on ‘Proceed.
Select the details of the renewal plan, such as amount, tenure, and renewal option.
Verify your details with the OTP sent to your registered mobile number and proceed with renewal.
Benefits of Renewing your Bajaj Finance Fixed Deposit
1. Continuity of Investments: Renewing your FD allows you to maintain continuity in your investments. Instead of withdrawing the matured amount, you can reinvest it, ensuring that your funds remain invested, and you continue to earn interest.
2. Stable Returns: FDs offers stable returns, making them an attractive option for risk-averse investors. By renewing your FD, you can continue enjoying the safety and stability of this investment avenue. Bajaj Finance FD has one of the highest stability and safety rating to assure you of the investment.
3. Flexibility in Tenure: During renewal, you have the flexibility to choose a new tenure for your FD. You can select a tenure that aligns with your current financial goals and liquidity requirements. Bajaj Finance FDs also has an option of special tenures that can earn you even higher returns.
4. Compound Interest: Renewing your FD allows you to take advantage of compound interest. By reinvesting the matured amount, you not only earn interest on the principal amount but also on the interest earned during the previous tenure.
In case your Bajaj Finance FD has a joint holder, an OTP will also be provided to the joint account holders registered mobile number while renewal. Though, the renewal request should be made by the primary account holder.
Renewing your fixed deposit offers a seamless and beneficial way to continue investing and growing your funds. With assured returns, safety, and flexibility in tenure, renewing your FD allows you to make the most of your investment journey