ⓘ Featured image: Mukesh Kalra, Founder & CEO, ETMONEY; Credits: Supplied
▸ Partners with Bajaj Finance and adds a holistic touch to the wide range of investment offerings available on its platform
▸ FDs on ETMONEY can be booked in a completely paperless manner, right from mobile within minutes
India’s largest online wealth management app ETMONEY, has partnered with Bajaj Finance to offer hassle-free online fixed deposits. The offering came in line with ETMONEY’s promise to serve the country’s investors with the most diverse range of investment options – the company said in a statement to LAFFAZ.
Indians have always prefered fixed deposits over other financial instruments owing to its reliability of being a safe investment option. However, with FD rates offered by Banks falling over the last couple of years, most Indians are now earning returns that barely beat inflation. With ETMONEY’s FD offering, millions of Indian investors now have an option to earn higher returns compared to many bank FDs.
ETMONEY’s fixed deposit offering also comes with a host of features such as flexible interest payouts, tenures ranging from 12 to 60 months, and higher interest rates for senior citizens. The convenience of investing using ETMONEY in a seamless and 100 percent paperless manner along with the safety of this investment instrument can help millions of Indian investors plan their short-term financial goals with confidence.
Speaking on the launch of Fixed Deposits on its platform, ETMONEY Founder & CEO, Mukesh Kalra said,
“Fixed deposits have been an indispensable investment option for hundreds of millions of Indian families for over half-a-century. In these uncertain times, we intend to bring safety & assurance via high interest FDs from Bajaj & enable Indians to grow their savings seamlessly. We’re glad to have been able to do it end-to-end, from concept to launch, amidst pandemic.”
In a conversation with LAFFAZ, Kalra highlighted that FD has become even more attractive in times of the COVID-19 outbreak since people are looking for stability even more sagaciously,
“FDs have always been the favourite investment product for Indians. The COVID-19 outbreak and the consequent uncertainty where people are looking for some stability has made FDs even more attractive. While FDs are a good option for short-goals or goals that can’t wait, investors should opt for a more balanced portfolio of Mutual Funds as per one’s risk appetite and time horizon when it comes to long term goals. That’s because mutual fund investments tend to offer higher returns in the long term and are tax-efficient. However, there are always goals that can’t be compromised and have short-term horizons like 1-3 years & the interest rates are also just right is when Fixed Deposits make real sense.”
Speaking of the benefits of ETMONEY’s FD product, Kalra further told LAFFAZ,
“At a time when bank FD interest rates are falling, with FDs on ETMONEY you can get returns of up to 7.35% p.a. Investors can book fixed deposits within minutes in a completely paperless manner using our app. The offering also comes with a host of features such as, flexible interest payouts, tenures ranging from 12 to 60 months, and higher interest rates for senior citizens. The relatively higher interest rate, sheer convenience of investing using ETMONEY in a 100% paperless manner along with the safety of this investment instrument means millions of Indian investors can now plan their short-term financial goals with complete peace of mind.”