Pune, June 13, 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 20 basis points, for tenor between 24 to 60 months (except 44 months). The revised rates on Bajaj Finance FDs of up to 20 basis points are effective from tomorrow, dated June 14, 2022, and shall be applicable to fresh deposits and renewals of maturing deposits.
Post the revision, deposits between 36 months to 60 months will offer a cumulative return as high as 7.20%. Senior citizens can reap the benefit of up to 0.25% higher FD rates, which will offer assured returns of 7.45% for 36 months to 60 months.
Bajaj Finance FD Rates for Non-Senior Citizens, w.e.f. June 14, 2022
Period (except table 2) | Cumulative |
| Non-Cumulative | |||
At Maturity (% p.a.) | Monthly (% p.a.) | Quarterly (% p.a.) | Half Yearly (% p.a.) | Annual (% p.a.) | ||
12 - 23 months | 5.85 | 5.70 | 5.73 | 5.77 | 5.85 | |
24 - 35 months | 6.60 | 6.41 | 6.44 | 6.49 | 6.60 | |
36 - 60 months | 7.20 | 6.97 | 7.01 | 7.08 | 7.20 | |
The rate change also impacts the senior citizens, who can now earn up to 6.85% p.a. for a tenor of 24 months to 35 months and 7.45% p.a. for a tenor of 36 months to 60 months. The interest rate table for senior citizens is as mentioned below:
Period (except table 4) | Cumulative | Non-Cumulative | ||||
At Maturity (% p.a.) | Monthly (% p.a.) | Quarterly (% p.a.) | Half Yearly (% p.a.) | Annual (% p.a.) | ||
12 - 23 months | 6.10 | 5.94 | 5.97 | 6.01 | 6.10 | |
24 - 35 months | 6.85 | 6.64 | 6.68 | 6.74 | 6.85 | |
36 - 60 months | 7.45 | 7.21 | 7.25 | 7.32 | 7.45 | |
A comparison of old and new interest rates for cumulative FD for non-senior citizens, has been provided below:
Tenor (months) | Previous Interest Rates (w.e.f. May 10, 2022) | New Interest Rates (w.e.f. June 14, 2022) |
12- 23 | 5.75 | 5.85 |
24 - 35 | 6.40 | 6.60 |
36 - 60 | 7.00 | 7.20 |
Bajaj Finance Special FD Interest Rates
Bajaj Finance Fixed Deposits has also included special interest rates for all customers. With special interest rate one can now choose specific tenors to enjoy interest rates up to 7.35% p.a.
For a tenor of 44 months customers below 60 years of age can enjoy FD interest rate of 7.35% p.a. while senior citizens can earn up to 7.60% p.a.
The special interest rate table for customers below 60 years is:
Period | Cumulative |
| Non-Cumulative | |||
At Maturity (% p.a.) | Monthly (% p.a.) | Quarterly (% p.a.) | Half Yearly (% p.a.) | Annual (% p.a.) | ||
15 months | 6.05 | 5.89 | 5.92 | 5.96 | 6.05 | |
18 months | 6.15 | 5.98 | 6.01 | 6.06 | 6.15 | |
22 months | 6.30 | 6.13 | 6.16 | 6.20 | 6.30 | |
30 months | 6.70 | 6.50 | 6.54 | 6.59 | 6.70 | |
33 months | 6.95 | 6.74 | 6.78 | 6.83 | 6.95 | |
44 months | 7.35 | 7.11 | 7.16 | 7.22 | 7.35 | |
For senior citizens the applicable special interest rates are:
Period | Cumulative | Non-Cumulative | ||||
At Maturity (% p.a.) | Monthly (% p.a.) | Quarterly (% p.a.) | Half Yearly (% p.a.) | Annual (% p.a.) | ||
15 months | 6.30 | 6.13 | 6.16 | 6.20 | 6.30 | |
18 months | 6.40 | 6.22 | 6.25 | 6.30 | 6.40 | |
22 months | 6.55 | 6.36 | 6.40 | 6.45 | 6.55 | |
30 months | 6.95 | 6.74 | 6.78 | 6.83 | 6.95 | |
33 months | 7.20 | 6.97 | 7.01 | 7.08 | 7.20 | |
44 months | 7.60 | 7.35 | 7.39 | 7.46 | 7.60 | |
Bajaj Finance offers the comfort of investing from home, with an end-to-end 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’s FAAA/Stable rating and ICRA’s MAAA (stable) rating offering one of the safest investment options for investors.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the most diversified NBFCs in the Indian market, catering to more than 50 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Wallet, Co-branded Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited has the highest domestic credit rating of AAA/Stable for long term borrowing, A1+ for the short-term borrowing, and FAAA/Stable & MAAA (Stable) for its’ FD program. It has a long-term issuer credit rating of BB+/Positive and short-term rating of B by S&P Global ratings.
To know more, visit https://www.bajajfinserv.in
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