Bajaj Finance Limited is a leading private sector NBFC that has fixed deposits schemes with attractive rates of interest. The company offers retail fixed deposits to investors looking to maximize returns on their savings through a safe and secure channel without undertaking undue risks. These FDs cater to a wide range of investors and feature interest rates that are competitive under both cumulative and non-cumulative options thereby offering the benefits of liquidity and savings.
The highly secured nature of these FDs is evident from its FAAA rating from Crisil and MAAA rating from ICRA respectively.
The updated list of Bajaj Finance Limited FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rate||Senior Citizen FD Rate|
|Upto Amount||Rs. 1 Crore||Rs. 1 Crore|
|12 – 23||7.80%||8.05|
|24 – 35||8.00%||8.25|
|36 – 60||8.05%||8.30|
Deposits can be held for tenures varying from 1 to 5 years. Customers can deposit savings based on their liquidity requirements or personal investment requirements by choosing the appropriate tenure.
Bajaj Finance offers very attractive rates of interest on FDs in keeping with general market conditions. Interest rates favour comparably against peers making them products of choice for many investors. Preferential rates are also available for senior citizens and for high value FDs.
Tax saver deposits are not on offer. Also, interest is taxable as per the provisions of the the Income Tax Act, 1961.
Bajaj Finance provides marginally higher rates to senior citizens, subject to provision of proof of age. This can be revised as the company sees fit.
*Figures are indicative and interest rates are subject to change.
*This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with Bajaj Finance Limited. For further information about any of the products mentioned above please contact Bajaj Finance Limited.
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%.
1st July 2016
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.
20th June 2016
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.
20th November 2015
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.
5th May 2015