The CRISIL AAA/STABLE and [ICRA]AAA(Stable), Bajaj Finance has good news for all its investors. With effect from November 8, 2022, the fixed deposit rates for all investments starting at Rs. 15,000 have been changed. In order to speed up the growth of an investors capital, all investor categories and tenors now get higher FD interest rates up to 7.85% p.a.
Customers under the age of 60 can now invest their money for a 44-month tenor and earn up to 7.60% annually. Senior folks receive additional 0.25% of all base rates as special rate perks. Therefore, older persons can make up to 7.85% p.a. for a tenor of 44 months.
Revised FD rates for customers below 60 years of age
The regular rates for customers below 60 years of age have been revised by 10 bps, the revised interest rates are as follows:
Period in months
Cumulative
Non-Cumulative
At Maturity
Monthly
Quarterly
Half Yearly
Annual
(% p.a.)
(% p.a.)
(% p.a.)
(% p.a.)
(% p.a.)
12 – 23
6.55
6.36
6.40
6.45
6.55
24 – 35
7.25
7.02
7.06
7.12
7.25
36 – 60
7.50
7.25
7.30
7.36
7.50
Senior citizens too enjoy the rate change, along with the additional 0.25% p.a. interest rates. They can now earn up to 7.85% p.a. for 44 months. The table below shows the FD interest rates for senior citizens:
Period in months
Cumulative
Non-Cumulative
At Maturity
Monthly
Quarterly
Half Yearly
Annual
(% p.a.)
(% p.a.)
(% p.a.)
(% p.a.)
(% p.a.)
12 – 23
6.80
6.60
6.63
6.69
6.80
24 – 35
7.50
7.25
7.30
7.36
7.50
36 – 60
7.75
7.49
7.53
7.61
7.75
Special interest rates
Investors looking for higher returns and longer investment terms can opt for special tenure offered by Bajaj Finance on fixed deposit of 15, 18, 22, 30, 33, and 44 months. Below are the updated special rates for all customers.
Tenure
Cumulative
(Customers below 60 years)
Cumulative
(Senior citizens)
15 months
6.70% p.a.
6.95% p.a.
18 months
6.80% p.a.
7.05% p.a.
22 months
7.05% p.a.
7.30% p.a.
30 months
7.35% p.a.
7.60% p.a.
33 months
7.35% p.a.
7.60% p.a.
44 months
7.60% p.a.
7.85% p.a.
Small monthly instalments
In addition to fixed deposits, Bajaj Finance offers the Systematic Deposit Plan, the first monthly savings option in the sector. Each investment is considered as a separate fixed deposit, with investments starting at just Rs. 5,000 per month.
You can make small monthly deposit and each deposit matures on a different month in the Monthly maturity scheme and on a single date in the single maturity scheme.
Highest safety and credibility ratings
When it comes to making an investment, choosing a safe and credible instrument is key to reducing risk and ensuring security of your finances. Since an FD is not linked to market fluctuations, it is a safer investment. What’s more, rating agencies such as CRISIL and ICRA rate the investment instruments of various financial institutions. A high rating means that the instrument is safe, and you can make an investment stress free knowing that you will receive your interest earnings and original invested amount on time and without fail. The Bajaj Finance FD has the highest safety and credibility ratings from CRISIL and ICRA, assuring the security of your invested amount.
You can benefit from the FD calculator and a 100% digital process in addition to these advantages of the Bajaj Finance Fixed Deposit to maximise convenience. With the help of the FD calculator and web application, you may more easily and quickly predict your returns and plan your investments accordingly. Make a safe and secure online FD investment in a matter of steps to increase your wealth.
