Best Performing Systematic Deposit Plan for 1 Year Investment In 2020

Fixed deposits have long been hailed as the go-to savings plan for all financial goals. While people are cautious about investments that do not give fixed returns, they are always on the lookout for an easier form of savings plan as well. Most newbie jobbers tend to look at immediate future as for saving and spending. Short-term goals take precedence in such cases and one must be able to weigh returns for a period of one to two years as well.

Saving Plans for One Year Investment

Most people are advised by financial planners to go for mutual funds or stocks as they earn higher returns than bank FDs. However, one should be cautious about short-term (i.e. 1-2 years) returns in market-related instruments. They are prone to volatility and might create losses in this time horizon. 

Thus, one should look at high yielding fixed deposits like those from NBFCs such as Bajaj Finance. While bank FDs are offering 6-7.75% maximum, you can easily earn up to 8.35% with Bajaj Finance FD. To maximise your benefits from Bajaj Finance FD with a minimal investment amount, you can consider the best Systematic Deposit Plan (SDP) for one year.

Systematic Deposit Plan

In case you have a limited budget for investment in the short term (such as one year), you can still invest in Bajaj Finance FD through its Systematic Deposit Plan.  Systematic Deposit Plan (SDP) is a new feature of Bajaj Finance FD which has brought innovation in a simple FD by introducing flexibility in many ways. 

  • Small Investment – You can start an SDP with a minimum amount of Rs 5,000 per month. Thus, for new jobbers and short-term investment horizon, this is a great savings tool.
  • In-built Laddering – An SDP entails series of monthly deposits in which each deposit earns the interest prevailing on the transaction date. Each payment is like a new deposit. They will go on maturing as per the tenor set by you one after the other thus giving you a series of payments and ensuring liquidity. You will keep earning proceeds each month as each deposit matures. 
  • The Flexibility of Deposits – You need not worry about investing every month. In a tenor ranging from 12 to 60 months, you can have a number of deposits ranging from 6 to 48. 
  • High Returns for 1-year tenor- With high interest rates of 7.6% for a cumulative FD in just one-year tenor, you can easily earn good returns. 
  • Assistance with Planning – You should use the SDP calculator available on the company portal to plan your investment as per your budget. By entering the values for the number of deposits, deposit amount and the tenor, you can see the approximate returns you will earn in one year and then plan your best SDP plan for one year.

Bajaj Finance is one of the best companies to have an SDP with its proven track record of servicing 31 million customers across product lines. You can benefit as an existing customer with an additional 0.10% interest rate and as a senior citizen, you can look forward to an additional 0.25% interest rate.

Bajaj Finance FDs have been rated one of the highest stable by credit rating agencies FAAA by CRISIL and MAAA by ICRA. You are assured of guaranteed returns higher than any bank as this is the best SDP plan for one year.

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