Bajaj Finserv Mutual Fund has unveiled a new facility, that will allow customers to invest their excess money into fund house called Savings+.
What Is This New Feature?
Similar to Fixed Deposit (FD) sweep-in account, savings+ works in a similar manner. Like Bank FD account, which parks excess money from savings account to FD, Savings+ also parks customer’s surplus money from savings account and places the money in two of Bajaj Finserv Mutual fund debt schemes.
The names of these two schemes are Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund.
The savings+ allows customers to earn a little more from their savings account. Under savings+, customers can receive the money within 24 hours after applying for redemption.
But savings+ facility allows customers to invest their excess money amount only one time. If customers query about their excess money, the analysis of their bank account from the last six months will become available, but it will be available for that specific month only.
How It Works?
In order to utilize Savings+, first sign up with Perfios. This facility will be found on Bajaj Finserv Asset Management Company’s website. If not, the distributors who sell these Bajaj finserv schemes will set this up for you.
Second, enter mobile number and verify via one-time password. Then Perfios reveals basic details of customer’s bank account. This is where, the number will be found registered.
After the choosing the bank account of your choice (where to invest excess on), it then reviews bank statement.
After examining the excess money from last six months, and taking investments and spending into account, it comes up with a figure.
Then, customers select their preferred scheme. And on the last stage, send the amount and investment is concluded.
In addition, amount can also be edited. Overall, this is the process, where the excess money from bank account gets invested.
