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Tag: Bajaj Finance

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Daimler India Commercial Vehicles Partners with Bajaj Finance to Offer Comprehensive Financing Solutions

Jul 30, 2024 by Mansi 0 Comments #Anup Saha, #Bajaj Finance, #Daimler India, #DICV, #Mr. Sreeram Venkateswaran

National, July, 2024 – Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler Truck AG (“Daimler Truck”), has announced a strategic partnership with Bajaj Finance, part of Bajaj Finserv Group, one of India’s largest financial conglomerates to offer tailored financing solutions for its commercial vehicle customers and dealerships. This collaboration aims to enhance the accessibility and convenience of financing options across DICV’s entire commercial vehicle portfolio.

Daimler India Commercial Vehicles & Bajaj Finance announces new CV financing options

 As per the Memorandum of Understanding (MoU) signed by DICV and Bajaj Finance, innovative financial products will be specifically designed to meet the diverse needs of DICV’s growing customer base, enhancing flexibility for businesses looking to acquire commercial vehicles.

 Mr. Sreeram Venkateswaran, President & Chief Business Officer, Daimler India Commercial Vehicles, said, “We are delighted to partner with Bajaj Finance, as this enables us to offer enhanced and accessible financing solutions to our customers. This collaboration strengthens DICV’s ability to provide superior Total Cost of Ownership (TCO), representing a significant advancement in our commitment to deliver exceptional value and support. This partnership helps our customers grow their businesses with confidence and capitalize on new market opportunities.”

 The partnership will offer customer-focused finance solutions with faster turnaround times for loan approvals, streamlined credit appraisal processes, and customized financing options to suit various customer needs. Bajaj Finance will provide a comprehensive range of finance products with flexible terms and conditions to cater to different business requirements. The enhanced accessibility and convenience provided by this collaboration will improve access to funds for fleet owners and dealerships, ensuring a seamless and hassle-free financing experience.

 Commenting on this partnership, Anup Saha, Deputy Managing Director, Bajaj Finance, said, “Our partnership with Daimler India Commercial Vehicles is unique and set to redefine customer experience in the commercial vehicle financing space. We are rolling out bespoke solutions for various customers from single truck owners to fleet operators providing them flexible financing options designed to optimize their cash flows and fuel their business growth. Our digital solutions leveraging the India Stack make the experience of owning commercial vehicles swift and seamless. The commercial vehicle industry is showing immense promise. Daimler’s state-of-the-art products and the tech-led financing experience of Bajaj Finance will empower small and large fleet owners alike. The partnership will enable us to jointly contribute to the growth of India’s logistics and transportation sectors.”

 Bajaj Finance can leverage the growing network of DICV to tap into new markets and customer segments, significantly broadening its footprint and enhancing its market penetration capabilities. Through this strategic alliance, DICV and Bajaj Finance are poised to drive significant value for their customers, offering innovative financial products and services that enhance business efficiency and growth.

business

Enjoy High FD Interest Rates with Bajaj Finance to Build a Contingency Fund

Jan 8, 2022 by Gouri 0 Comments #Bajaj Finance, #Contingency Fund, #High FD Interest Rates

Pune, India

 

Emergencies can come out of nowhere and leave even the most strategic and financially stable individuals blindsided. A contingency fund is the best hope of getting through it, as dipping into savings can prove problematic. This is because emergencies often require more funds than anyone can anticipate. For instance, in the case of a medical problem, one must account for the cost of treatment, recovery, subsequent medications, and specialised therapy. So, having a large enough fund parked safely is the best way to be prepared for such occurrences.

 

Enjoy high FD interest rates with Bajaj Finance to build a contingency fund

 

Unfortunately, building a contingency fund is no easy task. It could take months, and even with diligent saving habits, inflation could erode a lot of its value over time. The best way to put money aside for such needs is to invest in a safe instrument like Bajaj Finance Fixed Deposit. Its stability, combined with the high FD rates and easy liquidity options, helps investors build a corpus effectively.

 

Read on to know more about how to make the most of this fixed deposit to build an emergency fund.

 

Invest early without having to save a significant amount

Regardless of the goal, investing as early as possible will always be beneficial as you stand to gain the benefits of compounding interest. It allows one to stay invested for longer, effectively adjusting for inflation in the process. With the Bajaj Finance FD, one can get returns up to 6.80% p.a, while senior citizens can earn up to 0.25% more. Investors can enjoy benefits such as a minimum deposit amount of just Rs. 25,000.

 

Choose to stay invested for a longer tenor

To build a contingency fund via investing, one should consider opting for a longer tenor. Bajaj Finance allows investors to choose a flexible investment window between 12 and 60 months. Investors should ideally select a maximum tenor of 60 months to make most of the compounding effect. Here, interest compounding benefits are most noticeable and work efficiently toward one’s end goal.

 

The applicable FD interest rates vary based on the investor type and the chosen tenor. As a citizen below 60, one can get interest rates up to 6.80%, whereas senior citizen investors can get up to 7.05% on their deposits. Here’s an example of a citizen under 60 investing in an FD for different tenors:

 

Deposit amount Interest rate applicable Tenor Interest earned Total earnings
Rs. 5 lakh 5.65% 12 Rs. 28,250 Rs. 5,28,250
Rs. 5 lakh 6.80% 36 Rs. 1,09,094 Rs. 6,09,094
Rs. 5 lakh 6.80% 60 Rs. 1,94,746 Rs. 6,94,746

 

As the table suggests, the longer one stays invested, the better it is for them. The difference between a one-year and five-year investment is significant and can make all the difference when building an emergency fund.

 

Avail of the loan against FD facility for instant liquidity

When one invests in a Bajaj Finance FD, they don’t have to worry about lengthy lock-in periods. The money is only locked in for three months, after which investors can withdraw it at any time to fund emergencies. To avoid penalty charges from early withdrawal, investors can also avail of an easy loan against their FD from Bajaj Finance, up to 75% of the FD value.

 

While other investment options are also available, this FD is one of the most promising financial tools available in the market. With both FAAA and MAAA ratings from CRISIL and ICRA, respectively, investors get the surety they need when building a rainy-day fund. What’s more, these ratings allow one to invest for a long tenor without worrying about market volatility or the risk of default. Investors can also skip the long queues and lengthy documentation by choosing to book a Bajaj Finance online Fixed Deposit from the comfort of their homes.