Bajaj Finance raises Fixed Deposit interest rates, offers up to 7.05 Percent

by Priya J

New Delhi HIGHLIGHTS:

• New interest rates are applicable on fixed deposits of up to Rs. 5 crore for tenors up to 60 months

• Revised interest rates apply to new deposits and renewal of maturing deposits

Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased fixed dpeosit (FD) rates by 0.30% for tenors between 24 and 60 months.
Investors can now get up to 7.05% interest rate on all deposits up to Rs. 5 crore made on and after December 1, 2021.  These interest rates are applicable for new deposits and on the renewal of maturing deposits.
Comparison of old and revised interest rates for cumulative FD for senior citizens:  

Investors can now get up to 7.05% interest rate on all deposits up to Rs. 5 crore made on and after December 1, 2021.  These interest rates are applicable for new deposits and on the renewal of maturing deposits.

Comparison of old and revised interest rates for cumulative FD for senior citizens:
 

Tenor (months)	Previous interest rates	New interest rates (w.e.f. December 1, 2021)
12-23	5.90%	5.90%
24-35	6.35%	6.65%
36-60	6.75%	7.05%

 
As the table suggests, there’s an increase of 0.30% for FDs between 24 and 60 months. A senior citizen investing Rs. 2,00,000 for 60 months can earn returns up to Rs. 2,83,652 at maturity.
Comparison of old and revised interest rates for cumulative FD for citizens aged below 60 years:
 

Tenor (months)	Previous interest rates	New interest rates (w.e.f. December 1, 2021)
12-23	5.65%	5.65%
24-35	6.10%	6.40%
36-60	6.50%	6.80%

 
For the same tenor and deposit amount, citizens below 60 years get up to Rs. 2,80,188 on their deposit regardless of their investment mode.
Here’s a detailed look at the revised FD interest rates offered by Bajaj Finance Limited.
Rate benefits (w.e.f. December 1, 2021) for senior citizens:
 

Tenor in months	Minimum deposit (in Rs.)	Cumulative	Non-cumulative
			Monthly	Quarterly	Half-yearly	Annual
12 – 23	25,000	5.90	5.75	12 – 23	25,000	5.90
24 – 35		6.65	6.46	24 – 35	6.30	6.65
36 - 60		7.05	6.83	36 – 60	6.69	7.05

 
Rate benefits (w.e.f. December 1, 2021) for citizens aged below 60 years:
 

Tenor in months	Minimum deposit (in Rs.)	Cumulative	Non-cumulative
			Monthly	Quarterly	Half-yearly	Annual
12 – 23	25,000	5.65	5.51	5.53	5.57	5.65
24 – 35		6.40	6.22	6.25	6.30	6.40
36 - 60		6.80	6.60	6.63	6.69	6.80

 

Invest online with Bajaj Finance Fixed Deposit: With Bajaj Finance, individuals can choose to start their investment journey anywhere at any time, with an end-to-end paperless online process that enables investors to invest from the comfort of their homes. With this online FD process, it takes a few minutes to book an FD, and investors can reap the benefit of these lucrative FD interest rates easily  

About Bajaj Finance Limited: Bajaj Finance Limited, the lending arm of the Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market, catering to more than 50 million customers across the country. Headquartered in Pune, the company's product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Wallet, Co-branded Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits.  Bajaj Finance Limited prides itself on holding the highest credit rating of AAA/Stable for long term borrowing, A1+ for the short-term borrowing, and FAAA/Stable for FD program. It has also been credited for Long term issuer credit rating of BB+/Stable and short-term rating of B by S&P Global ratings for ECB. 

To know more, please visit: https://www.bajajfinserv.in/