Finance

How CKYC Makes your Investment Process Easier

Before the introduction of CKYC (Centralised Know Your Customer) in the market, financial institutions like banks, NBFCs, mutual fund houses, etc.

Before the introduction of CKYC (Centralised Know Your Customer) in the market, financial institutions like banks, NBFCs, mutual fund houses, etc. conducted the KYC process separately to verify their customers.

It increased the time factor associated with investment and loan processes. Also, it caused inconvenience to customers as they were asked to submit documents to avail of financial services or products each time. 

However, you no longer have to go through this ordeal as CKYC has changed everything. As per the CKYC procedure, you need to register your documents in a centralised repository after which you will get a CKYC number.

Now, every time a financial institution needs to verify your identity or address. You can share the CKYC number. It saves the hassles of submitting a fresh set of documents every time. Also, it makes the whole process much convenient and quicker for both the service provider and customer. Some of the key benefits of registering your documents in CKYC are given below:

Authorised financial institutions can access your data easily. 

  • You can use the CKYC number instead of physical documents for a wide range of financial services and products. 
  • You can register documents like PAN Card, Aadhar Card, Driving Licence, Voter ID, Passport, etc. in CKYC.
  • It creates a swift process for investing in fixed deposits, stock, or mutual funds. 

To gain the advantage of hassle-free investment process along with the stability for invested money, you can invest in a fixed deposit. Bajaj Finance FD offers a higher rate of interest that enables you to reap high returns upon maturity. You can utilise the CKYC number to invest in Bajaj Finance FD. The options of completing the other formalities via online FD form. And payment options like net banking and UPI make the investment process a lot faster and easier. Here are some other essential features of this investment scheme:

Higher Rate for Senior Citizens

Bajaj Finance FD offers a higher FD interest rate of 0.25% to senior citizens. It enables them to grow their investment at up to 7.05%. Along with enough returns, they can also exercise the option of withdrawing interest after every year, six-months, quarter, or month as per their financial requirements. 

Burden-free investment

You won’t have any burden on your mind after investing in Bajaj Finance FD. It is because its returns are unaffected by market fluctuations.  

Seamless way to invest in multiple FDs

Bajaj Finance FD facilitates a seamless way to invest in more than one FD. It allows you to pay for multiple FDs with a single cheque and you may even choose the FD type and tenor as per your requirements. Investing in multiple FDs is an ideal investment strategy for those who want to leverage the benefits of high liquidity in the future.

Calculating returns

The compounding of returns facilitated by Bajaj Finance Cumulative FDs allows you to earn a higher interest at maturity. You can predict the returns in advance by using the FD calculator provided on the official portal of Bajaj Finance. 

Easy withdrawals

Bajaj Finance FD also facilitates a seamless withdrawal process for those who want to liquidate their deposits before they mature. Moreover, you also have the option of obtaining a collateral-free loan against your deposits. 

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