What is SDP investment?

An SDP or Systematic Deposit Plan is a feature of a regular FD. When you invest via SDP, each deposit is treated as a new FD that earns interest as per the prevailing rate at the time of booking the FD.

What is SDP in mutual fund?

Single Maturity Scheme under Systematic Deposit Plan (SDP) assures returns on monthly savings pool. Investors can start building their corpus with monthly deposits starting at Rs 5,000. They can also choose tenures ranging from 12 to 60 months and raise a lumpsum amount with bite-sized contributions every month.

What is SDP in Bajaj Finance?

935 1 min read. Share. 25 May 2021. The Bajaj Finance Systematic Deposit Plan (SDP) is a feature of fixed deposits that serves as an efficient and valuable savings tool. By using an SDP, you can grow your savings without the need for significant lump sum contributions.

Is Bajaj Finance safe for FD?

Bajaj Finance bags ICRA’s highest MAAA rating and CRISIL’s highest FAAA rating, making it one of the most trustworthy and safest NBFCs offering FD. Non-senior citizens can earn up to 6.50\% interest rate on their deposit and gain an additional 0.10\% benefit for booking FD online.

How is SDP interest calculated?

To make a deposit into the SDP, contact the finance office at your deployment location. Once you make your initial deposit, interest accrues on the account at an annual rate of 10 percent while compounding quarterly. For example, interest earned on $6,000 deposited into the SDP for eight months would total $408.38.

How can I earn monthly interest?

1. Bank Fixed Deposits or Bank FDs.
2. Post Office Monthly Income Scheme or Post Office MIS.
3. The Monthly Income Scheme (MIS) offered by Department of Posts currently offers an interest rate of 7.3 per cent per annum, payable monthly.
4. Pradhan Mantri Vaya Vandana Yojana (PMVVY)
5. Senior Citizen Savings Scheme.