LUCKNOW: Bajaj Finance Ltd, a deposit accepting Non-Banking Financial Institution (NBFC) and a lending arm of Bajaj Finserv group, has announced its new offering of Fixed Deposit to NRIs, enabling them to benefit from high returns, up to 8.95 per cent.
Bajaj Finance Fixed Deposit for NRIs offers flexible tenor options between 12 months and 36 months, along with multi-deposit and easy renewal facilities. NRIs can easily invest in a Bajaj Finance Fixed Deposit by making a deposit from their NRO account.
Commenting on the launch, Sachin Sikka, Chief Business Officer ? Retail & Corporate Liabilities said in a press release here on Tuesday, ”We aim to cater the NRI investors seeking to invest in Indian market to generate higher returns. Fixed deposit are the safest investment option and regulatory environment is fairly conducive for NRIs to make such investments. Bajaj Finance Fixed deposit has the highest stability ratings which indicates safety of investments.”
As per reports by the World Bank, India has remained the top receiver of remittances in 2018 with 79 billion dollars. An amount of Rs 800 billion is parked in NRI accounts, in the form of savings account balances, earning very low returns. With volatility in global markets, NRIs could consider traditional investment avenues like Fixed Deposits back home.
Mr Sikka said Bajaj Finance Fixed Deposit offers high returns, which are unaffected by market fluctuations.
“For new NRI customers investing for 36 months in a cumulative fixed deposit, interest rate can go up to 8.60 per cent; interest rates for existing customers can go up to 8.85 per cent and up to 8.95 per cent for senior citizens,” he added.
(AGENCIES)
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