Bajaj Finserv Asset Management has launched Bajaj Finserv Savings+ which provides retail investors an avenue to manage their idle money in savings account. The scheme allows investors to seamlessly invest in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund offering competitive returns and the convenience of liquidity.

In comparison to traditional Savings Accounts, Liquid Funds have delivered 7.17 per cent return between last July to June, 2024. This is higher than the average savings account interest rate of 3.5 per cent for savings accounts provided by top 5 banks in India, it said.

Investors will get T+1 day liquidity with an option of instant redemption of ₹50,000 or 90 per cent of invested value, whichever is lower, within minutes.

Ganesh Mohan, CEO, Bajaj Finserv Asset Management said Savings+ will be provided through the website and WhatsApp for ease of access and convenience to all investors. The digital and flexible solution allows investors to participate in fixed income funds, which have been traditionally used by corporates to park surplus money, he said.

The fund house has partnered with Perfios, a B2B SaaS Fintech, as a technology service provider for this initiative. Perfios will facilitate Account Aggregator services and leverage their Personal Finance Management solution to provide customised financial recommendations.