Bajaj Finance Limited hikes FD interest rates up to 30 bps from 7th Oct 2022

Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased the Interest Rates on their Fixed Deposit (FD) programme by up to 30 basis points, for tenor between 24 to 30 months. The new rates on Bajaj Finance FDs of up to Rs. 5 Cr. will go into effect from October 7, 2022, and will be applicable on fresh deposits and renewals of maturing deposits.

Bajaj Finance Fixed Deposits has also included special interest rates for all customers. With a special interest rate, one can now choose specific tenors to enjoy interest rates of up to 7.50% p.a. (non-senior citizens).

Bajaj Finance FD Rates, w.e.f. October 7, 2022

For a tenor of 44 months customers below 60 years of age can enjoy Special FD interest rate of 7.50% p.a. while senior citizens can earn up to 7.75% p.a.

FD interest rates for non-senior citizens is:

Tenor (months)

Cumulative

At Maturity (%p.a)

Non-Cumulative

Monthly

(%p.a)

Quarterly

(%p.a)

Half Yearly

(%p.a)

Annual

(%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

7.40

7.16

7.20

7.27

7.40

Special FD interest rates for non-senior citizens is:

Period

Cumulative

 

Non-Cumulative

At Maturity

(% p.a.)

Monthly

(% p.a.)

Quarterly

(% p.a.)

Half Yearly

(% p.a.)

Annual

(% p.a.)

15 months

6.70

6.50

6.54

6.59

6.70

18 months

6.80

6.60

6.63

6.69

6.80

22 months

7.05

6.83

6.87

6.93

7.05

30 months

7.35

7.11

7.16

7.22

7.35

33 months

7.35

7.11

7.16

7.22

7.35

44 months

7.50

7.25

7.30

7.36

7.50

FD interest rates for senior citizens is:

Tenor (months)

Cumulative

At Maturity (%p.a)

Non-Cumulative

Monthly

(%p.a)

Quarterly

(%p.a)

Half Yearly

(%p.a)

Annual

(%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

7.65

7.39

7.44

7.51

7.65

 

 Special FD interest rates for senior citizens is:

Period

Cumulative

Non-Cumulative

At Maturity

(% p.a.)

Monthly

(% p.a.)

Quarterly

(% p.a.)

Half Yearly

(% p.a.)

Annual

(% p.a.)

15 months

6.95

6.74

6.78

6.83

6.95

18 months

7.05

6.83

6.87

6.93

7.05

22 months

7.30

7.07

7.11

7.17

7.30

30 months

7.60

7.35

7.39

7.46

7.60

33 months

7.60

7.35

7.39

7.46

7.60

44 months

7.75

7.49

7.53

7.61

7.75

A comparison of old and new interest rates for cumulative FD for non-senior citizens, has been provided below:

Regular Period (in months)

Existing ROI (% p.a.)

ROI w.e.f 07 Oct 2022 (% p.a.)

12 – 23

6.35

6.55

24 – 35

6.95

7.25

36 – 60

7.40

7.40

Special Period (in months)

Existing ROI (% p.a.)

ROI w.e.f 07 Oct 2022 (% p.a.)

15 months

6.55

6.70

18 months

6.65

6.80

22 months

6.80

7.05

30 months

7.05

7.35

33 months

7.15

7.35

44 months

7.50

7.50

Bajaj Finance offers the comfort of investing from home, with an end-to-end paperless online 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 AAA/STABLE and [ICRA]AAA(Stable) rating offering one of the safest investment options for investors.

The RBI increased its repo rate by 0.5% on Sept 30, 2022, and this is the current cycle’s fourth consecutive increase in the repo rate. This brings in benefits for fixed deposit investors who are looking to outperform inflation in terms of earning higher returns.

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