Bajaj Finance’s fixed deposit rate hiked by 25 bps

Bajaj Finance's fixed deposit rate hiked by 25 bps

Bajaj Finance Ltd is a deposit-taking non-banking financial company. (representative)


Bajaj Finance, the lending arm of Bajaj Finserv Limited, has raised interest rates on fixed deposits (FDs) for 12 to 24 months by up to 25 basis points effective December 22, 2022.updated Bajaj Finance FD Rates Will apply for new deposits as well as renewals on maturing accounts up to Rs 5 crore.

As a consequence of RBI policy, some financial institutions have recently changed their FD rates for several specific tenors. For tenors ranging from 12 months to 24 months, Bajaj Finance has increased interest rates by as much as 25 basis points to attract more investors to this attractive investment option.

The comparison of the old and new interest rates of non-elderly accumulative time deposits is as follows:

some features of Bajaj Finance Fixed Deposit listed below:

A sort of. To start investing and meet the minimum investment criteria, start with Rs 15,000. For online clients, there is a maximum investment of Rs 5 crore; for offline clients, there is no maximum investment.

b. Interest rates up to 7.75% for 44-month terms: Seniors investing for 44-month terms can expect FD interest rates as high as 7.75% per annum. Offer interest rates up to 7.50% p.a. to customers under 60.

c. Term between 12 and 60 months: Select any term within this range. Your tenure will determine your investment rate.

d. Opt for a non-cumulative term deposit as a flexible payment option to generate reliable income. You can choose to earn interest monthly, quarterly, semi-annually or annually.

e. Special tenure with higher returns: Bajaj Finance offers exclusive tenure with higher returns. The unique periods for each month are 15, 18, 22, 30, 33, 39 and 44. Fully Online Process: With a few simple steps, you can start investing online. Select your investment information, complete your KYC, add more information, and complete your payment.

F. System Deposit Plan: This plan allows you to start making small monthly deposits. Investors also get updated interest rates on their deposits every month.

Under the revised term deposit scheme, depositors over the age of 60 will continue to earn fixed deposit rates of up to 7.95% p.a., while non-senior citizens can earn up to 7.70% p.a. Also, for Bajaj Finance’s newly announced 39-month tenure, depositors below 60 years old can still enjoy up to 7.60% p.a. on fixed deposits, while those above 60 years old can earn up to 7.85% p.a. on fixed deposits.

Bajaj Finserv Ltd. (“BFL”, “Bajaj Finance” or the “Company”) is a subsidiary of Bajaj Finserv Ltd., a deposit-taking non-banking financial company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC Investment and Credit Company (NBFC-ICC). BFL is engaged in lending and taking deposits. It has a diversified loan portfolio spanning retail, SME and commercial clients, with a significant presence in both urban and rural India. It accepts public and corporate deposits and offers customers a variety of financial services products. BFL, a 35-year-old business, has become a leading player in the NBFC sector in India with a franchise of 62.91 million customers on a consolidated basis. BFL long-term borrowing AAA/stable, short-term borrowing A1, CRISIL AAA/stable & [ICRA]AAA (stable) for its FD program. Its long-term issuer credit rating is BB/Positive, and its short-term rating is B by S&P Global Ratings.

(Aside from the title, this story is unedited by NDTV staff and published via a syndicated feed.)

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