Bajaj Finserv Asset Management Limited Introduces Bajaj Finserv Savings+ to Empower Retail Investors
Competitive RETURNS, Convenient LIQUIDITY, Customized INSIGHTS
Highlights:
- Smart Cash Management: Effortlessly invest surplus cash from savings accounts, for optimal returns.
- 7.17% P2P Returns: Outperforming Savings Accounts with competitive returns#.
- Instant Redemption: Investors can also enjoy the added benefit of instant redemption, allowing them to access up to Rs 50,000 or 90% of invested value, whichever is lower, within minutes
Mumbai/Pune, 11th July 2024: Bajaj Finserv Asset Management Limited announced the launch of Bajaj Finserv Savings+, an innovative product aimed at empowering retail investors with a smarter way to manage their idle money in their savings account. Savings+ redefines the landscape of savings and investment options available to investors today.
Bajaj Finserv Savings+ allows investors to identify surplus cash in their savings accounts and seamlessly invest in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund offering competitive returns and the convenience of liquidity. In comparison to traditional Savings Accounts, Liquid funds (as a category) delivered an impressive 7.17%* return between 1st July 2023 to 30th June 2024. This is higher than the average savings account interest rate. Investors can also enjoy T+1 day liquidity (with an option of instant redemption of Rs 50,000 or 90 percent of invested value whichever is lower, within minutes).
"We are pleased to introduce Bajaj Finserv Savings+ to the market. It is a simple and innovative product for retail investors to manage their surplus money while getting the advantage of competitive risk adjusted returns and liquidity. This aligns with our commitment to deliver innovative solutions that cater to the diverse needs of our investors," stated Mr. Ganesh Mohan, CEO, Bajaj Finserv Asset Management Limited.
He further added, "By leveraging cutting-edge technology, we are enabling investors to discover the idle money lying in their savings accounts and visualize the potential returns they could have earned through investments in Savings+. This facility will be provided on our digital platforms (Website and WhatsApp) for ease of access and convenience to all our investors."
This digital and flexible solution provides a disciplined approach to managing the surplus money over and above the regular expense requirements of investors, offering a lump sum with SIP-like discipline and catering to various time horizons. The surplus funds will be deployed either in liquid or overnight funds which in turn will invest in low volatility securities.
Bajaj Finserv Savings+ aims to redefine how retail investors approach cash management, providing a seamless blend of competitive returns, liquidity, and ease of use. More importantly, it allows investors to participate in fixed income funds, something that has been traditionally used by corporates to park surplus money. It is also a great way to attract new to mutual funds investors as Savings+ invests in low-risk/low to moderate risk funds as compared to equity mutual funds.
To build Savings+, Bajaj Finserv Asset Management Limited has partnered with Perfios, a B2B SaaS Fintech, as a Technology Service Provider (TSP) for this initiative. Perfios will facilitate Account Aggregator services and leverage their Personal Finance Management (PFM) solution to provide customised financial recommendations backed with speed, accuracy, compliance, and security. This will enable the company to understand customer requirements and engage with them more efficiently.
#: Regular Growth Category of liquid funds offer higher average returns of 7.17% from 1st July 23 to 30th June 2024 compared to the top quartile median interest rate of 3.5% for savings accounts provided by top 5 banks of India; data as on 30th June 24. (Past performance may or may not be sustained in future) Source: ICRA MFI.
*: Liquid Fund Category Average Reg-Growth from 1 July 2023 to 30th June 2024. (Past performance may or may not be sustained in future.) Source: ICRA MFI.
About Bajaj Finserv Asset Management Limited
Bajaj Finserv Asset Management Limited (BFAML) is a 100% subsidiary of Bajaj Finserv Limited. Backed by one of India's most respected brands, BFAML is set to offer an array of innovative investment solutions using a differentiated approach to investing, including but not limited to, mutual funds (equity, debt, hybrid), portfolio management services and alternative investment funds, subject to regulatory approval. With a future-focused investment strategy, it aims to help every Indian achieve life's financial goals.
To know more, visit www.bajajamc.com
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Bajaj Finserv Liquid Fund
An open-ended Liquid scheme with Relatively Low Interest Rate Risk and Moderate Credit Risk
Bajaj Finserv Overnight Fund
An open-ended debt scheme investing in overnight securities with Relatively Low Interest Rate Risk and Relatively Low Credit Risk.
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