ICRA accredits Bajaj Finance fixed deposit with MAAA (stable) rating
ICRA, a credit rating agency has given MAAA (stable) ratings to the fixed deposit products offered by Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv. The ratings indicate the lowest investment risk and highest safety for the investors.
MAAA ratings are considered as one of the highest ratings given to fixed deposit products of companies. Higher ratings suggest that the company does not default of the payment of the principal as well as the interest amount and has good credibility in the market.
Bajaj Finance Limited offers customers other benefits like high-interest rates, flexible tenor, period payout options, and minimum deposits of Rs.25, 000 apart from highest safety and low investment risks. Currently, the company is offering interest rate up to 9.10 percent with a flexible investment tenor ranging between 12 months to 60 months.
It needs to be mentioned here that ICRA is a credit rating agency which offers ratings to fixed deposits of companies and help investors in taking the right decisions when it comes to investing. The ratings offered by the agency are crucial as fixed deposits with companies are unsecured in nature and is not covered by a guarantee from the Deposit Insurance and Credit Guarantee Corporation of India.
3 April 2019
Bajaj Finance, Sundaram Finance announce FD rate hike
A majority of financial institutions have increased the interest rates on Fixed Deposits (FDs) during this financial year. Bajaj Finance Ltd., a Non-Banking Financial Company (NBFC), has announced a hike in its interest rates. The FD rates have been increased up by 0.25% for FDs within the tenure of 3 years and 5 years. Bajaj Finance Ltd. has increased the rates up to 9.00% p.a. for existing FD accountholders and 8.75% p.a. for new investors. Senior citizens can enjoy an interest rate of 9.10% p.a. for a tenure between 1 year and 5 years. The new rates will be applicable from 17 October 2018.
Another NBFC, Sundaram Finance, has increased its FD rates on select tenures. The rates will be effective from 19 October 2018. Rates for deposits with a maturity period of 1 year to 18 months will increase to 7.75% p.a. from 7.50% p.a. For the same tenure period, the FD rates for senior citizens have been raised to 8.25%. Rates for tenure between 1 year and 3 years have been hiked to 8.00% p.a. from 7.75% p.a.
24 October 2018
Bajaj Finance Ltd. Announces Increase In FD Rates
Fixed Deposits (FDs) are investment schemes offered by banks and Non-Banking Financial Companies (NFBCs). Bajaj Finance Ltd. is the latest NFBC to announce an increase in its FD rates. The FD rates for senior citizens have grown to 8.85% p.a., 8.75% to existing depositors and 8.50% p.a. to new investors. The new rates are valid for tenures between 3 years and 5 years. The financial institution has hiked the rates up to 0.10% on select tenures. Recognized rating agencies such as ICRA and CRISIL have marked the Bajaj Finance FD schemes as ‘MAAA’ (Stable) and ‘FAAA/Stable’ respectively.
Senior citizens are qualified to receive an additional FD rate of 0.35%. The highest rate offered for senior citizens has increased from 9.00% p.a. to 9.10% p.a. For a maturity period between 3 years and 5 year, the rate for new investors has increased from 8.65% p.a. to 8.75% p.a. The tenure range for the FDs is 1 year to 5 years. The minimum amount required to make a deposit is Rs.25,000. One can apply for the Bajaj Finance FD online as well.
8 October 2018
Bajaj Finance revises FD rates
Bajaj Finance updated the interest rates that is offered on term deposits to 8.65% for regular deposit holders and 8.75% for senior citizens.
As far as senior citizens are concerned, the rate has been increased from 8.40% to 8.75%, which is an increase by 0.35%. As per the new interest slab, the rate of interest offered will be 8.40% instead of the previous 8.10%.
Bajaj Finserv is a wing of Bajaj Finance Limited. Thei investment schemes have been well rated and offers a high degree of safety.
5 June 2018
Fixed Deposit rates increased by Bajaj Finance Ltd
Bajaj Finance Ltd. has decided to increase the interest rate it is offering on Fixed Deposit accounts to 8.35%. The interest rate has been increased for the term period ranging from 36-60 months. The increase in Fixed Deposit interest rate to 8.35% can be enjoyed by only existing loans and FD account holders. The new customers have some incentive to associate with the bank as well as it is offering 8.10% interest rate on opening FD accounts which is an increase of 0.25% from the earlier rate.
The improved rate of return for senior citizens who hold a Fixed Deposit account in Bajaj Finance Ltd. is 8.45% for the same term period. For the term period of 15 months and a minimum deposit of Rs. 1 Lakh, the improved fixed deposit rate is 7.7% for regular citizens and 8.05% for senior citizens. The minimum deposit amount required for opening a fixed deposit account in the bank is Rs. 25000. The bank is also offering a 0.10% increase in the rate of return on fixed deposit accounts for renewals. Bajaj Finance Ltd has been accredited with ‘FAAA/Stable’ by CRISIL and ‘MAAA (Stable)’ by ICRA. These ratings mean that the bank is highly reliable as far as periodic payment of interest and principal is considered.
15 May 2018
Bajaj Finserv offers best FD rates for senior citizens
Bajaj Finserv, a leading NBFC, is offering a high rate of interest of 8.20% p.a. for senior citizens for an investment period of 36 months to 60 months.
They offer both cumulative and non-cumulative FD schemes and their term deposits come with a range of benefits, including competitive interest rates. All senior citizens can expect an additional interest rate of 0.35% p.a. The highest interest rate offered to regular FD holders is 7.85% p.a. for a tenure of 3 years to 5 years.
The FDs are safe because they are rated stable and credible by ICRA and CRISIL.
6 February 2018
Bajaj Finserv FD Rate Change
Bajaj Finserv has revised the rates of interest payable for their Fixed Deposits from 1st June, 2016. Fixed Deposits up to Rs. 5 crore have seen interest rate changes for two tenor slabs, which are given below:
For non-cumulative Fixed Deposits with a tenor of 12-17 months:
The annual interest rate is now 8.55% p.a. whereas previously it was 9.10% p.a.
The half yearly interest rate payable is now 8.37% whereas previously it was 8.90%.
The quarterly interest rate payable is now 8.29% whereas previously it was 8.80%.
The monthly interest rate payable is now 8.23% whereas previously it was 8.75%.
For cumulative Fixed Deposits with a 12-17 month tenor, the interest rate payable is now 8.55% whereas previously it was 9.10%.
For non-cumulative Fixed Deposits with a tenor of 18-60 months:
The annual interest rate payable is now 8.60% whereas previously it was 9.25%.
The half yearly interest payable is now 8.47% whereas previously it was 9.05%.
The quarterly interest rate payable is now 8.38% whereas previously it was 8.95%.
The monthly interest rate payable is now 8.32% whereas previously it was 8.90%.
For cumulative Fixed Deposits with a tenor of 18-60 months, the interest rate payable is now 8.65% whereas previously it was 9.25%.
1 July 2016
Fixed Deposit Rates Reduced by Bajaj Finserv
Interest rates of fixed Deposits, usually popular investors and retirees are reducing by the day. The most recent company to lower these rates is Bajaj Finserv and has reduced it by 25 basis points from the 1st June. For a 12 to 17 month fixed deposit, the company will now pay 8.55% and for a 18 to 60 month deposit, 8.65% will be paid.
According to Anup Bhaiya who is the CEO and MD of Money Honey Financial Services, even with this decrease, as compared to most banks, these deposits pay 100 to 125 points more. A deposit with HDFC or State Bank of India will pay a maximum of 7.5%.
According to financial experts, investors can take a look at SCSS (Post Office Senior Citizens Scheme) wherein rates of interest are 8.6%. Once this limit concludes, debt funds can also be considered.
20 June 2016
Rate Changes for Bajaj Finserv
Bajaj Finserv is a private sector financial services company with pan-India operations. The financial organization offers fixed deposit products under both cumulative and non-cumulative varieties.
The interest rates for cumulative and non-cumulative fixed deposits have been revised. The rate is valid for up to Rs. 5 crore and is effective from November 05, 2015. For cumulative deposits of tenors 12-17 months, 18-23 months, and 24-60 months, the interest rates are 8.75%, 8.85%, and 8.90% respectively.
The non-cumulative interest rates have been revised as per monthly, quarterly, half-yearly, and annual basis. The monthly Interest rates for the deposits with tenors ranging 12-17 months, 18-23 months, and 24-60 months are fixed at 8.40%, 8.50%, and 8.55% respectively. Quarterly interest rates for the same tenors are 8.45%, 8.55%, and 8.60%. For the half-yearly fixed deposits, the rates of interest for 12-17 months, 18-23 months, and 24-60 months applicable are 8.55%, 8.65%, and 8.70% respectively. The annual rate of interest for non-cumulative fixed deposits with tenors 12-17 months, 18-23 months, and 24-60 months are 8.75%, 8.85%, and 8.90% respectively.
20 November 2015
Bajaj Finance reduces rates on FDs
Bajaj Finance has lowered interest rates on its fixed deposit offerings in keeping with similar reductions made by peers. This moves comes in the wake of rate reductions effected by banks on their FD schemes. With borrowing set to become cheaper in the market, deposit offerings have been reduced by NBFCs. In case of banks deposit rate reductions are an indicator of possible reduction in lending rates.
Company FDs are a viable option for investors who want to earn more than what bank FDs have to offer. Bajaj Finance Ltd. is considered a safe company to deal with a CRISIL rating of FAAA and an ICRA rating of MAAA. It offers deposits with cumulative and non-cumulative options.
5 May 2015