Bajaj Finserv Savings+: A special scheme for higher returns on the money lying in the savings account, what are its special features

What is Bajaj Finserv Savings+ Facility : If you have a good amount deposited in your savings account and are suffering losses against inflation by getting only 3.5% to 4% annual interest on it, then pay attention. Bajaj Finserv Mutual Fund has announced the launch of Bajaj Finserv Savings+ facility. This facility is an innovative product aimed at providing retail investors high returns on their passive funds in their savings account through better management of the funds.

Higher returns than savings account

This unique facility allows investors to invest surplus funds in their savings accounts in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund, thereby offering better returns and liquidity. Compared to traditional savings accounts, liquid funds have delivered an effective return of 7.17 per cent between July 1, 2023 and June 30, 2024. This return is almost double the interest rate of an average savings account. Through this facility, investors can also enjoy T+1 day liquidity (with an option to redeem up to Rs 50,000 or 90% of the invested value, whichever is lower, instantly within minutes).

Facility will also be available on digital platform

Ganesh Mohan, CEO, Bajaj Finserv Asset Management Limited said that Bajaj Finserv Savings+ is an easy and innovative product for retail investors to manage their surplus funds while getting the benefit of risk adjusted returns and liquidity. By taking advantage of this new facility, investors can get better returns on the money lying in their savings account. This facility will be provided to all our investors through our digital platform (website and WhatsApp) keeping in mind the scope of easy access and convenient services.

Both SIP and Lumpsum facility

This Savings+ facility offers investors a disciplined approach to managing surplus funds in addition to meeting regulatory spending requirements, with both SIP and lump sum options. The surplus funds will be invested in either liquid or overnight funds, which in turn will invest in low volatility securities.

Investing in Fixed Income Funds

Bajaj Finserv Savings+ aims to re-evaluate the approach to cash management by retail investors, offering a mix of competitive returns, liquidity and ease of use. The facility allows investors to participate in fixed income funds, which are traditionally used by corporates to invest surplus funds. The Savings+ facility is an excellent way to attract new mutual fund investors as Savings+ invests in low risk/low to medium risk funds as compared to equity mutual funds.