Bajaj Finance partners with Fixed Invest for digital fixed deposits.

Bajaj Finance Teams Up with Fixed Invest to Offer Digital Fixed Deposits

In a recent collaboration, the fintech start-up Fixed Invest, specializing in fixed deposits (FD), has partnered with Bajaj Finance to provide its customers and associates access to digital FDs. Fixed Invest, which unveiled its FD marketplace not long ago, aspires to facilitate transactions exceeding Rs 100 crore in Bajaj Finance FDs within a year.

Established in 2023, Fixed Invest is a banking tech start-up with a mission to create a digital marketplace comprising banks and non-banking financial companies (NBFCs). Through this strategic alliance, Fixed Invest aims to streamline the process for investors on its platform, allowing them to not only invest in various Bajaj Finance FD options but also learn, explore, and manage their investments seamlessly.

The collaboration eliminates the need for investors on the Fixed platform to physically visit any office, offering a hassle-free and paperless experience for investing in Bajaj Finance FDs. Moreover, the platform enables users to compare Bajaj Finance FDs with other options, accompanied by relevant information available on the platform.

All transactions on the Fixed Invest platform will adhere to bank-grade security standards, a result of the advanced technological partnership with Bajaj Finance. Akshar Shah, the Founder of Fixed Invest, expressed the significance of the partnership, highlighting Bajaj Finance's esteemed reputation in the financial sector and emphasizing the empowerment of investors and partners on their platform.

Bajaj Finance, renowned for being one of the largest Reserve Bank of India (RBI)-approved deposit entities, gains access to a new pool of investors and partners through this collaboration. The partnership not only allows Fixed Invest to offer digital fixed deposits on its platform but also positions it to power other tech platforms, extending the opportunity to their customer base in a compliant and hassle-free manner.

Akshar Shah further emphasized the value of providing investors and savers with a broader range of FD options beyond traditional bank FDs, aligning with Fixed Invest's mission to become India's largest FD enablers. Sachita Mohanty, Senior Business Head – Fixed Deposits at Bajaj Finance, expressed confidence that the collaboration would play a pivotal role in establishing fixed deposits as a preferred asset class among young Indians.

In summary, the partnership between Bajaj Finance and Fixed Invest is poised to revolutionize the accessibility and convenience of digital fixed deposits, offering investors a diverse range of options and empowering them with a seamless digital investment experience.

Furthermore, Fixed Invest plans to extend its technological capabilities to various new-age platforms, enabling them to incorporate digital fixed deposits into their offerings. This expansion strategy aims to ensure maximum outreach, allowing a wider audience to benefit from digital fixed deposits, aligning with Fixed Invest's ambition to become the foremost facilitators of fixed deposits in India.

The collaboration between Bajaj Finance and Fixed Invest is underpinned by a commitment to providing customers with attractive interest rates, flexible tenors, and diverse interest payout options. Sachita Mohanty from Bajaj Finance expressed confidence that this collaboration would be instrumental in establishing fixed deposits as a preferred asset class, particularly among the younger demographic.

As Fixed Invest continues to forge ahead with its vision of a digital marketplace for banks and NBFCs, this partnership with Bajaj Finance positions them as key players in shaping the future landscape of digital fixed deposits. With an emphasis on accessibility, security, and a seamless investment journey, the collaboration is poised to leave a lasting impact on the financial sector, offering a paradigm shift in the way Indians approach and engage with fixed deposits.

Additionally, the alliance with Fixed Invest provides Bajaj Finance with a strategic avenue to tap into a fresh reservoir of investors and partners. Senior Business Head – Fixed Deposits at Bajaj Finance, Sachita Mohanty, expressed the company's commitment to empowering Fixed Invert's customers to invest in fixed deposits by offering not just competitive interest rates but also a user-friendly and digital investment experience. This collaboration is anticipated to play a pivotal role in cultivating a preference for fixed deposits as a viable and attractive investment option, particularly among the younger generation in India.

Launched in 2023, Fixed Invert's forward-looking approach aims to reshape the financial landscape by creating a platform that transcends traditional banking boundaries. By facilitating a comprehensive and user-centric experience, Fixed Invest envisions becoming a catalyst for a broader acceptance of digital fixed deposits. The collaboration underscores the significance of embracing technology to streamline financial processes, making them more inclusive and convenient for a diverse range of investors.

In conclusion, the partnership between Bajaj Finance and Fixed Invest not only signifies a union between a trusted financial institution and an innovative fintech start-up but also heralds a new era in the accessibility and popularity of digital fixed deposits. As they collectively work towards their goals, Bajaj Finance and Fixed Invest are poised to shape the financial landscape, offering a compelling alternative for investors seeking a secure and digitally-driven approach to fixed deposits.