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Bajaj Finance fixed deposit rate revision | Interest rates up to 7.75%, investments start at Rs 15,000

You can invest from the comfort of your home by filling out an online form and submitting minimal documents

July 02, 2022 / 06:38 PM IST

Fixed deposit interest rates have been revised by Bajaj Finance, effective 1st July 2022. The NBFC offers higher interest rates on deposits with maturities ranging from one year to five years. The interest rate ranges from 6.03% p.a. to 7.75% p.a. for customers below 60 years and senior citizens.

Bajaj Finance Fixed Deposits enjoy a [ICRA]AAA(Stable), indicating the highest level of safety and lowest investment risk.

The following are some essential characteristics of a Bajaj Finance Fixed Deposit:

 
  • • Earn an interest return on fixed deposits of up to 7.75% p.a
    • • Investing requires a minimum of Rs. 15,000.
    • • Varying maturities with high FD rates.

 

Let us look at the revised FD rates offered by Bajaj Finance to customers below 60 years of age.
Tenor in monthsCumulativeNon-Cumulative
At MaturityMonthlyQuarterlyHalf YearlyAnnual
(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)
12 - 236.206.036.066.116.20
24 - 356.956.746.786.836.95
36 - 607.407.167.207.277.40

 

For senior citizens, the interest rate is 0.25% higher than the base rate.

Higher rates are applicable for special tenors like 15,18,22,30,33 and 44 months to ensure higher customer returns. Through the special tenor, senior citizens can earn up to 7.75% p.a. for a tenor of 44 months and up to 7.50% p.a. for customers below 60 years.

The special tenor for cumulative deposits is as follows:
PeriodCumulative
Below 60 yearsSenior Citizens
15 months6.40% p.a.6.65% p.a.
18 months6.50% p.a.6.75% p.a.
22 months6.65% p.a.6.90% p.a.
30 months7.05% p.a.7.30% p.a.
33 months7.15% p.a.7.40% p.a.
44 months7.50% p.a.7.75% p.a.

 

Flexible tenor

A variable tenor is necessary for investors who want to match their investments with their financial objectives. Investors can also make higher returns through the special interest rates offered on particular tenors and the interest rates listed above.

 
Tenor in monthsBelow 60 years Senior citizens
 Interest rate

Interest

earned

 
Maturity Amount Interest rateInterest earned Maturity Amount 
126.20Rs. 18,600Rs. 3,18,6006.45Rs. 19,350Rs. 3,19,350
246.95Rs. 43,149Rs. 3,43,1497.20Rs. 44,755Rs. 3,44,755
337.15Rs. 62,744Rs. 3,62,7447.40Rs. 65,076Rs. 3,65,076
447.50Rs. 91,908Rs. 3,91,9087.75Rs. 94,443Rs. 3,94,443
607.40Rs. 1,28,689Rs. 4,28,6897.65Rs. 1,33,702Rs. 4,33,702

 

You can also calculate your maturity amount and interest rate using the FD calculator.

 

FD rates begin at only Rs. 15,000 

Bajaj Finance has now lowered the minimum FD deposit amount to Rs 15,000 per deposit. Now, investors have the opportunity to increase their capital and select a high-return alternative like the Bajaj Finance Fixed Deposit. If you have any excess money, you can invest tiny amounts by multiplying them rather than hoarding them.

Regular monthly investment

Although you must deposit at least Rs. 15,000 to open a normal Bajaj Finance FD; there is another option to gain from FDs. You can progressively increase your money by choosing the Systematic Deposit Plan and investing just Rs. 5,000 each month. As each deposit goes toward forming a new FD at the current rates, this plan enables you to take advantage of the benefit of locking in FD rates at the time of investment.

Easy online investment process 

Investing in Bajaj Finance FD is now easier than ever. You can invest from the comfort of your home by filling out an online form and submitting minimal documents. With this end-to-end paperless process, you can book an FD in just a few minutes.

With the above information, it is safe to state that Bajaj Finance online Fixed Deposit can effectively hedge your portfolio against risks and grow your savings reliably. Book a Bajaj Finance online FD from the comfort of your home and start the new financial year on the right foot.

About Bajaj Finance Limited

 Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the most diversified NBFCs in the Indian market, catering to more than 50 million customers. 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 has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and FAAA/Stable & MAAA (Stable) for its’ FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term rating of B by S&P Global Ratings. To know more, visit https://www.bajajfinserv.in

 

Moneycontrol journalists were not involved in the creation of this article.

 
Tags: #Features
first published: Jul 2, 2022 06:14 pm
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