5th Aug 2024 Pune, Maharashtra, India In today’s world, achieving financial freedom is more crucial than ever. However, with the increasing cost of living and volatile economic conditions, focusing on long-term financial goals can be challenging. To address this, Bajaj Finserv AMC introduces Savings+, a solution designed to potentially accelerate your journey toward financial well-being.
What is Savings+?
Savings+ is an innovative facility offered by Bajaj Finserv Asset Management Limited, aimed at optimizing surplus funds lying idle in traditional bank savings accounts. Unlike conventional savings accounts that offer nominal interest rates, Savings+ redirects surplus funds into the Bajaj Finserv Liquid Fund or the Bajaj Finserv Overnight Fund. These funds offer slightly higher returns than traditional savings accounts, albeit with slightly higher relative risk.
Why choose Savings+?
Savings+ combines the liquidity of savings accounts with the potential for enhanced returns. It allows investors to swiftly identify surplus funds in their savings accounts and allocate them into low-risk financial instruments. This ensures that funds remain highly liquid, a crucial feature often compromised when transitioning from a traditional savings account.
Benefits of Savings+
Higher return potential: Traditional savings accounts provide meager interest rates, hindering wealth accumulation. Savings+ offers the potential for relatively higher returns, accelerating progress toward financial goals. However, savings account interest is fixed and guaranteed. In mutual funds, they are not guaranteed and are subject to market risks.
Liquidity: Investors can access 90% or up to Rs. 50,000 (whichever is lower) instantly from their Savings+ account. The remaining balance, if redeemed, is credited within one business day.
Diversification: By investing in low-risk debt mutual funds like liquid funds and overnight funds, Savings+ enables portfolio diversification, thereby potentially mitigating risks.
Automated savings: Savings+ facilitates automated savings, promoting a disciplined approach to investing and wealth management.
How to start with Savings+
Initiating your Savings+ journey is straightforward:
Visit the Savings+ page: Begin by visiting the Savings+ page on www.bajajamc.com.
Link your bank account: Link your bank account to activate the Savings+ facility.
Receive real-time updates: Stay informed with real-time updates on your current account balance.
Assess surplus funds: Determine surplus funds after accounting for expenses, debts, and other obligations.
Decide your investment amount: Based on your financial goals, decide how much to invest through Savings+.
Once linked, Savings+ provides regular notifications about idle funds in your account, ensuring proactive management and optimization of your financial resources.
Understanding Savings+ in depth
Savings+ stands out by providing investors with a balanced approach to wealth management. Unlike traditional savings accounts, which offer limited growth potential due to low-interest rates, Savings+ leverages the Bajaj Finserv Liquid Fund or the Bajaj Finserv Overnight Fund to potentially offer higher returns. This approach not only enhances the value of idle funds but also aligns with long-term financial goals.
Role of Bajaj Finserv AMC
Bajaj Finserv AMC plays a pivotal role in the success of Savings+. As an asset management company, it ensures that investors’ funds are prudently invested in instruments that seek to balance risk and return. This strategic approach aims to maximize wealth creation while maintaining liquidity, thereby providing investors with a reliable avenue to achieve financial security.
Why consider Savings+ over traditional savings accounts?
The limitations of traditional savings accounts, such as minimal interest rates and stagnant growth, make them less attractive for investors aiming to build substantial wealth. Savings+, on the other hand, offers a dynamic alternative by integrating the liquidity of savings accounts with the growth potential of market-linked investments. This hybrid model not only diversifies investment portfolios but also positions investors advantageously in the ever-changing economic landscape.
Tips for maximizing Savings+ benefits
Regular monitoring: Keep track of your Savings+ account regularly to capitalize on market opportunities and optimize returns.
Goal setting: Define clear financial goals and adjust your Savings+ investments accordingly to stay aligned with your objectives.
Consultation: Seek advice from financial experts to tailor your investment strategy and mitigate potential risks effectively.
Reinvestment: Consider reinvesting returns from Savings+ to compound growth and accelerate wealth accumulation over time.
Conclusion
In conclusion, Savings+ emerges as a strategic tool for investors looking to enhance their financial journey. By bridging the gap between traditional savings accounts and market-linked investments, Savings+ offers the potential for higher returns while maintaining liquidity and minimizing risk. This innovative approach not only empowers investors to achieve their financial goals sooner but also ensures flexibility and efficiency in wealth management.
As you embark on your financial journey, consider leveraging the benefits of Savings+ to optimize your investment portfolio. Remember, prudent investment decisions coupled with expert guidance are key to unlocking the full potential of Savings+. Start your Savings+ experience today and pave the way towards a brighter financial tomorrow.
Mutual Fund Investments are subject to market risks, read all scheme-related documents carefully.
This document should not be treated as an endorsement of the views/opinions or as a piece of investment advice. This document should not be construed as a research report or a recommendation to buy or sell any security. This document is for information purposes only and should not be construed as a promise on minimum returns or safeguard of capital. This document alone is not sufficient and should not be used for the development or implementation of an investment strategy. The recipient should note and understand that the information provided above may not contain all the material aspects relevant for making an investment decision. Investors are advised to consult their investment advisor before making any investment decision in light of their risk appetite, investment goals, and horizon. This information is subject to change without any prior notice.