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What is the Savings+ facility?
Savings+ is a unique investment solution by Bajaj Finserv Asset Management Ltd that encourages investors to make their idle money work for them. It helps you seamlessly invest the surplus money lying in your bank accounts into the Bajaj Finserv Liquid Fund or Bajaj Finserv Overnight Fund.
Both are low-risk/low-to-moderate risk debt mutual funds that are relatively stable and offer the potential to earn better returns than savings accounts.
Why you should opt for Savings+
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Relatively better returns
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With the Savings+ facility, you can yield relatively better returns on your surplus money as compared to the regular savings/current account.
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Hassle-free investment
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Invest with Savings+ conveniently through website. Also, there are no additional or hidden charges to avail the Savings+ facility.
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Instant redemption
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With the 'insta redemption' facility, up to Rs.50,000 or 90% of the balance can be redeemed and processed instantly.
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How does Savings+ work?
Traditional bank accounts are considered one of the safest places for your hard-earned money. However, the inadequate returns offered by them may not keep pace with inflation. Savings+ gives you the opportunity to balance the benefit of savings accounts with the higher return potential of Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund. The low duration and high quality of the underlying securities in these funds mitigates risk.
The minimum investment amount is just Rs 100, and you can invest whenever you want. However, regular investments are recommended to inculcate disciplined savings and make the most of the facility’s opportunities.
What Makes Savings+ Appealing?
Differentiated proposition
- Savings+ helps investors manage their idle money smartly and potentially earn reasonable returns that can keep pace with inflation. Liquid funds have generated 6.86%* return as compared to 3% in regular savings account in CY 2023.
Easy investing
- It helps retail investors determine the surplus cash available in their savings accounts and invest it into Bajaj Finserv Liquid Fund/Bajaj Finserv Overnight Fund.
Insta-redemption
- With Savings+, investors can instantly redeem up to Rs 50,000 or 90% of their funds, whichever is lower.
*Liquid Fund Category Average Reg-Growth from 1st Jan 23 to 1st Jan 24 Source: ICRA MFI Average rate of savings account is 3% taken from saving rates of top 3 bank Past performance does not guarantee future returns ^In bank account, returns are fixed, whereas in mutual funds, returns are subject to market risk.
Benefits of Savings+
- Offers the potential for higher returns compared to savings accounts, However, returns are not guaranteed and depend on market movements,
- Insta-redemption gives you access to invested funds whenever needed.
- Part redemptions allow you to withdraw just as much as you need.
- You can invest whenever you wish to, and put in less or more depending on expenses, market opportunities and preferences.
- Investments in high-quality and low-duration securities makes these funds relatively stable.
Who should invest in Bajaj Finserv Savings+
Savings+ can be suitable for a wide range of investors. This includes:
- Conservative investors who seek minimal fluctuation in their investment value.
- Those who are new to mutual fund investing and want to start with small and relatively stable options before branching into more aggressive ones.
- Investors who usually invest in equity seeking diversification
- Those who want to build an emergency corpus
- Investors who regularly have of surplus funds in their account
How to invest through Bajaj Finserv Savings+
You can invest in a few simple steps:
- Click on the ‘Invest Now’ button on this page.
- Log in with your PAN if you are an existing investor with us.
- If you are investing with us for the first time, sign up. You will need to provide some basic details such as your name and bank account details (for new investors).
- Visit the Savings+ scheme page on the investor portal. From the dropdown menu, select the scheme of your choice (Bajaj Finserv Liquid Fund or Bajaj Finserv Overnight Fund).
- The portal will show you your surplus funds, but you can choose any investment amount above Rs. 100.
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Frequently Asked Questions (FAQs)
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Only the accounts from the bank added during onboarding or by the distributor for DIT journeys will be discovered. Multiple bank discovery is not supported.
Yes, all individual accounts in the same bank, including savings and current accounts (excluding joint accounts), will be discovered.
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- Bajaj Finserv Asset Management Limited has been referred to as Bajaj Finserv AMC.
Copyright: All Rights reserved at Bajaj Finserv Asset Management Limited
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