Bajaj Finance hikes Fixed Deposit rates upto 8.20%

Bajaj Finance announced an increase in interest rates on Fixed Deposits, taking it for senior citizens at 8.20 per cent per annum, for a tenure of 44 months.

The company has hiked FD rates by up to 35 basis points, for tenures between 15 months to 23 months, with effect from March 4, 2023. Depositors below 60 years can earn up to 7.95 per cent per annum. For the special tenure of 33 months introduced last year by Bajaj Finance, non-senior citizens can avail FD interest rates of up to 7.75 per cent per annum while senior citizens can earn up to 8.00 per cent per annum. 

Sachin Sikka, Executive Vice President – Fixed Deposits & Investments, Bajaj Finance Ltd., said, “The current interest rate environment allows investors to make the most of Fixed Deposits. Our revised interest rates on Fixed Deposits in the 44-month bucket are as high as 8.20%, enabling investors to gain from inflation-beating rates and liquidity. Booking an FD with Bajaj Finance is completely digitised and paperless, making it a simple and secure process for investors.”

Bajaj Finance Ltd. offers one of the highest rates among large financial institutions in the country. Its digital journeys offer investors a secure and simplified route to set aside and grow savings. The company offers Fixed Deposits and attractive interest rates through its app, web, branches and distributors in 4000 locations across the country. In addition, Bajaj Finance also offers access to all mutual funds in the country through its Investment Marketplace app, offering investors a wide array of investment options to choose from.

1.    Bajaj Finance FD Rates (% per annum) for Non-Senior Citizens, w.e.f. 04 March 2023

 

1. Regular Period

Period (months)	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
12 – 14 months	7.40		7.16	7.20	7.27	7.40
>15 – 23 months	7.50		7.25	7.30	7.36	7.50
24 months	7.55		7.30	7.35	7.41	7.55
25 – 35 months	7.35		7.11	7.16	7.22	7.35
36 – 60 months	7.65		7.39	7.44	7.51	7.65

 

2. Special Period

Period (months)	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
15 months	7.45		7.21	7.25	7.32	7.45
18 months	7.40		7.16	7.20	7.27	7.40
22 months	7.50		7.25	7.30	7.36	7.50
30 months	7.45		7.21	7.25	7.32	7.45
33 months	7.75		7.49	7.53	7.61	7.75
44 months	7.95		7.67	7.72	7.80	7.95

2. Bajaj Finance FD Rates (% per annum) for Senior Citizens, w.e.f. 04 March 2023

 

1. Regular Period

Period (months)	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
12 – 14 months	7.65		7.39	7.44	7.51	7.65
>15 – 23 months	7.75		7.49	7.53	7.61	7.75
24 months	7.80		7.53	7.58	7.65	7.80
25 – 35 months	7.60		7.35	7.39	7.46	7.60
36 – 60 months	7.90		7.63	7.68	7.75	7.90

 

 

2. Special  Period

Period (months)	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
15 months	7.70		7.44	7.49	7.56	7.70
18 months	7.65		7.39	7.44	7.51	7.65
22 months	7.75		7.49	7.53	7.61	7.75
30 months	7.70		7.44	7.49	7.56	7.70
33 months	8.00		7.72	7.77	7.85	8.00
44 months	8.20		7.91	7.96	8.04	8.20

A comparison of old and new interest rates for cumulative FD for Non-Senior Citizens, is given below:

Period (months)	Previous Interest Rates (w.e.f. 20 Jan 2023)	New Interest Rates (w.e.f. 04 Mar 2023)
12 – 14	7.15%	7.40%
15	7.30%	7.45%
>15 – 23	7.15%	7.50%
18	7.15%	7.40%
22	7.45%	7.50%
24	7.50%	7.55%
25 – 35	7.30%	7.35%
30	7.40%	7.45%
33	7.70%	7.75%
36 – 60	7.60%	7.65%
44	7.85%	7.95%

Bajaj Finance offers the comfort of investing from home, with an end-to-end digital and paperless process. With the online FD process, investors can book an FD in few minutes and can reap the benefit of the lucrative interest rates. Bajaj Finance Fixed Deposit has the highest stability ratings with CRISIL’s AAA/Stable rating and [ICRA]AAA(Stable) rating offering one of the safest investment options for investors.