All you need to know

20th July 2024 Pune, Maharashtra, India Make better use of the surplus funds lying idle in your savings account with Savings+, a unique investment solution from Bajaj Finserv Asset Management Ltd. Savings+ makes mutual fund investments more accessible by helping investors combine the safety of bank accounts with the return potential of debt mutual funds. It enables investors to identify surplus cash lying idle in their savings account and invest it in the Bajaj Finserv Overnight Fund or Bajaj Finserv Liquid Fund.

Both are relatively stable debt mutual funds that entail low/low-to-moderate risk and offer the potential to earn better returns than traditional savings accounts.

Here is all you need to know about Savings+

Features of Savings+

Easy application: All you need to do is visit the Savings+ page on www.bajajamc.com and provide your bank account details. Once your account is linked, you are shown your bank balance or the surplus funds in your account – money that typically remains once your expenses are taken care of. You can then choose how much to invest and the scheme you prefer – the Bajaj Finserv Overnight Fund or the Bajaj Finserv Liquid Fund. The minimum investment amount is Rs 100.

Ease of investment: You can invest in either fund within minutes through an end-to-end digital process. You do not need to fill out a form or submit an application. Through the Savings+ interface, the amount is invested in your chosen as per your choice.

Relatively stable investments: Both liquid and overnight funds invest in short-duration and high-quality securities, which mitigates credit and interest rate risk associated with fixed-income investments.

Better return potential: While the savings accounts of most major banks offer interest rates of a little over 3%, liquid and overnight funds have higher return potential. The category average one-year return (as on July 11, 2024) is 6.72% for overnight funds and 7.21% for liquid funds, as per data from the Association of Mutual Funds in India. However, past performance may or may not be sustained in the future. Returns are not guaranteed and will fluctuate based on market conditions.

Choose how much and when to invest: You do not have to commit to a monthly investment amount through Savings+. This facility allows you to invest however much you like, whenever you wish to. So, if you have extra cash one month, you can invest more, or if you have more expenses, you can invest lesser. However, you are sent reminders once a month to encourage disciplined investing.

Instant redemption: Bajaj Finserv Overnight Fund and Bajaj Finserv Liquid Fund offer instant redemption of up to 90% of your funds, or Rs 50,000, whichever is lesser to retail investors. The balance amount, if redeemed, will take one business day to be released to your account.