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- Bajaj Finance hikes FD rates to 8.60%
by Prashant Kapadia/NHN
Effective May 10, Bajaj Finance offers senior citizens Fixed Deposit interest rates of 8.60 per cent per annum for a special tenure of 44 months
Pune, May 10, 2023: Bajaj Finance, the lending arm of Bajaj Finserv Limited, one of India’s leading and diversified financial services groups, today announced an increase of up to 40 basis points in its Fixed Deposit (FD) rates, taking it to 8.60 per cent per annum for senior citizens, for a special tenure of 44 months.
The new rates, effective May 10, 2023, are revised higher by 40 basis points on deposits with maturities ranging from 36 months to 60 months. Depositors below 60 years can earn up to 8.05 per cent per annum, while senior citizens can earn up to 8.30 per cent per annum. The revised rates on Bajaj Finance FDs shall be applicable on fresh deposits and renewals of maturing deposits of up to Rs 5 crore.
Sachin Sikka, Executive Vice President – Fixed Deposits & Investments, Bajaj Finance Ltd., said, “The transmission of interest rate hikes to FDs have made them a preferred investment option. Bajaj Finance’s inflation-beating interest rates on FDs offers customers a safe investment option while enabling them to earn higher returns on deposits. Depositors can place FD in few minutes through our digital journey. The digital and paperless process makes placing FDs extremely convenient and fast.”
Bajaj Finance offers one of the superior rates among large financial institutions in the country. Its digital journeys offer investors a secure and simplified route to set aside and grow savings. As part of its omnichannel strategy, BFL offers multi-channel options to customers to place FDs with the Company through its app, web, branches and distributors in 4000 locations across the country. In addition, Bajaj Finance also offers access to all mutual funds in the country through its Investment Marketplace app, offering investors a wide array of investment options to choose from.
Bajaj Finance FD Rates (% per annum) for Non-Senior Citizens, e.f. 10 May 2023
Regular Period
Period (months)
|
Cumulative
|
|
Non-Cumulative
|
At Maturity
|
Monthly
|
Quarterly
|
Half Yearly
|
Annual
|
12 – 23 months
|
7.40
|
7.16
|
7.20
|
7.27
|
7.40
|
>15 – 23 months
|
7.50
|
7.25
|
7.30
|
7.36
|
7.50
|
24 months
|
7.55
|
7.30
|
7.35
|
7.41
|
7.55
|
25 – 35 months
|
7.35
|
7.11
|
7.16
|
7.22
|
7.35
|
36 – 60 months
|
8.05
|
7.77
|
7.82
|
7.89
|
8.05
|
-
Special Period
Period (months)
|
Cumulative
|
|
Non-Cumulative
|
At Maturity
|
Monthly
|
Quarterly
|
Half Yearly
|
Annual
|
15 months
|
7.45
|
7.21
|
7.25
|
7.32
|
7.45
|
18 months
|
7.40
|
7.16
|
7.20
|
7.27
|
7.40
|
22 months
|
7.50
|
7.25
|
7.30
|
7.36
|
7.50
|
30 months
|
7.45
|
7.21
|
7.25
|
7.32
|
7.45
|
33 months
|
7.75
|
7.49
|
7.53
|
7.61
|
7.75
|
44 months
|
8.35
|
8.05
|
8.10
|
8.18
|
8.35
|
-
Bajaj Finance FD Rates (% per annum) for Senior Citizens, e.f. 10 May 2023
-
Regular Period
Period (months)
|
Cumulative
|
|
Non-Cumulative
|
At Maturity
|
Monthly
|
Quarterly
|
Half Yearly
|
Annual
|
12 – 23 months
|
7.65
|
7.39
|
7.44
|
7.51
|
7.65
|
>15 – 23 months
|
7.75
|
7.49
|
7.53
|
7.61
|
7.75
|
24 months
|
7.80
|
7.53
|
7.58
|
7.65
|
7.80
|
25 – 35 months
|
7.60
|
7.35
|
7.39
|
7.46
|
7.60
|
36 – 60 months
|
8.30
|
8.00
|
8.05
|
8.13
|
8.30
|
-
Special Period
Period (months)
|
Cumulative
|
|
Non-Cumulative
|
At Maturity
|
Monthly
|
Quarterly
|
Half Yearly
|
Annual
|
15 months
|
7.70
|
7.44
|
7.49
|
7.56
|
7.70
|
18 months
|
7.65
|
7.39
|
7.44
|
7.51
|
7.65
|
22 months
|
7.75
|
7.49
|
7.53
|
7.61
|
7.75
|
30 months
|
7.70
|
7.44
|
7.49
|
7.56
|
7.70
|
33 months
|
8.00
|
7.72
|
7.77
|
7.85
|
8.00
|
44 months
|
8.60
|
8.28
|
8.34
|
8.42
|
8.60
|
