Fixed deposits (FDs) are one of the most popular and safe investment options in India. They allow you to deposit a lump sum amount in a bank or a financial institution for a fixed period and earn a fixed interest rate on it. FDs offer several benefits, such as guaranteed returns, capital protection, tax benefits, and flexible tenures. However, not all FDs are the same. Different banks and financial institutions offer different interest rates, features, and services for their FDs. Therefore, it is important to compare interest rates on fixed deposits before you choose a scheme that suits your needs and goals.
One of the leading providers of FDs in India is Bajaj Finance. Bajaj Finance is a non-banking financial company (NBFC) that offers various financial products and services, such as loans, insurance, mutual funds, etc. Bajaj Finance also offers FDs with attractive interest rates, high safety ratings, and multiple benefits. In this article, we will provide you with a comprehensive guide of Bajaj Finance FD rates in 2023. We will also explain the features, benefits, eligibility, and process of opening a Bajaj Finance FD.
Bajaj Finance FD Rates
Bajaj Finance offers interest rates on fixed deposits at 7.35% to 8.35% p.a. to the general public and 7.60% to 8.60% p.a. to senior citizens on tenures ranging from 1 year to 5 years. NRI depositors can book Bajaj Finance FDs at interest rates ranging from 7.35% to 8.05% on tenures ranging from 1 year to 3 years.
Bajaj Finance also offers special interest rates on certain tenures, such as 15 months, 18 months, 22 months, 33 months, and 44 months. These tenures offer higher returns than the regular tenures.
The table below shows the Bajaj Finance FD rates on special tenures for customers below 60 years for deposits up to ₹5 crore as of October 2023.
| Tenure in months | At maturity (p.a.) | Monthly (p.a.) | Quarterly (p.a.) | Half yearly (p.a.) | Annual (p.a.) |
|---|---|---|---|---|---|
| 15* | 7.45% | 7.21% | 7.25% | 7.32% | 7.45% |
| 18* | 7.40% | 7.16% | 7.20% | 7.27% | 7.40% |
| 22* | 7.50% | 7.25% | 7.30% | 7.36% | 7.50% |
| 30* | 7.45% | 7.21% | 7.25% | 7.32% | 7.45% |
| 33* | 7.75% | 7.49% | 7.53% | 7.61% | 7.75% |
| 44* | 8.35% | 8.05% | 8.10% | 8.18% | 8.35% |
*Special interest rates are offered on these tenures.
The table below shows the Bajaj Finance FD rates on special tenures for senior citizens for deposits up to ₹5 crore as of October 2023.
| Tenure in months | At maturity (p.a.) | Monthly (p.a.) | Quarterly (p.a.) | Half yearly (p.a.) | Annual (p.a.) |
|---|---|---|---|---|---|
| 15* | 7.70% | 7.44% | 7.49% | 7.56% | 7.70% |
| 18* | 7.65% | 7.39% | 7.44% | 7.51% | 7.65% |
| 22* | 7.75% | 7.49% | 7.53% | 7.61% | 7.75% |
| 30* | 7.70% | 7.44% | 7.49% | 7.56% | 7.70% |
| 33* | 8.00% | 7.72% | 7.77% | 7.85% | 8.00% |
| 44* | 8.60% | 8.28% | 8.34% | 8.42% | 8.60% |
*Special interest rates are offered on these tenures.
You can use the Bajaj Finance FD calculator to estimate the maturity amount and interest earned on your FD based on the deposit amount, tenure, and interest rate.
Features and Benefits of Bajaj Finance FD
Bajaj Finance FD offers several features and benefits to its customers, such as:
High safety and credibility: Bajaj Finance FD has the highest ratings by CRISIL and ICRA, which indicate the highest safety and reliability of the deposit.
Flexible payout options: You can choose to receive your interest payouts on a monthly, quarterly, half-yearly, or annual basis, depending on your cash flow needs. You can also opt for a cumulative FD, where the interest is reinvested with the principal and paid at maturity.
Minimum deposit amount: You can start an FD with Bajaj Finance with a minimum deposit of ₹15,000. You can also invest in multiple FDs with different tenures and amounts to create a ladder of income.
Online application and management: You can apply for a Bajaj Finance FD online through a simple and hassle-free process. You can also manage your FD account online through the customer portal or mobile app.
Additional benefits for senior citizens and existing customers: Senior citizens get an additional interest rate of 0.25% p.a. on their FDs. Existing customers of Bajaj Finance get an additional interest rate of 0.10% p.a. on their FDs.
Eligibility Criteria
The eligibility criteria for opening a Bajaj Finance FD are as follows:
You should be a resident Indian citizen or an NRI
You should be above 18 years of age
You should have a valid PAN card and KYC documents
Bajaj Finance FD is one of the best investment options for anyone looking for high returns, safety, and convenience. Bajaj Finance offers attractive interest rates, high ratings, flexible tenures, and multiple benefits for its FD customers. You can easily apply for a Bajaj Finance FD online and manage it through the customer portal or mobile app. You can also use the Bajaj Finance FD calculator to plan your investments better.
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