Bajaj Finance Is Now Offering Higher FD Rates Of Up To 8.60% P.A. Check The Latest FD Rates

Following the increase, senior citizens can now earn up to 8.60% p.a. for a tenure of 44 months. 

Bajaj Finance Is Now Offering Higher FD Rates

Source : Bajaj Finance

Investments once again got even more attractive. Bajaj Finance has revised its FD rates by up to 40 basis points w.e.f 10 May 2023. The revised rates are applicable to all customers. Following the increase, senior citizens can now earn up to 8.60% p.a. for a tenure of 44 months. 

A comparison of old and new interest rates for cumulative FD for all customers is given below:

	Customers below 60 years of age		Senior citizens
Period (months)	Old interest rates	Revised interest rates	Old interest rates	Revised interest rates
12 - 14 months	7.40%	7.40%	7.65%	7.65%
36 months	7.65%	8.05%	7.90%	8.30%
44 months	7.95%	8.35%	8.00%	8.60%
60 months	7.65%	8.05%	7.90%	8.30%

 

Apart from the higher FD rates, mentioned below are some reasons that make Bajaj Finance Fixed Deposit an idle investment option for all customers:

a. Maximum safety of deposit

The safety of funds is a primary criterion when choosing an investment tool. Credit rating agencies rank investments based on risk, timely payments, and records. Higher ratings indicate safer investments. Bajaj Finance is a reputed financial institution with a long-standing history of financial stability. It has been accredited with [ICRA]AAA(Stable), indicating the highest level of safety and lowest investment risk. BFL FD has also a rating of CRISIL AAA/ STABLE, which is another reason to invest.

b. FD calculator

The Bajaj Finance website offers an online FD calculator that allows you to easily determine your returns by entering details such as investment payout option, tenure, and initial deposit amount. Since FD have a fixed interest rate throughout the chosen tenure, it is simple to estimate the returns at maturity. This feature is particularly useful for senior citizens who are planning their retirement savings.

For example, for an investment of Rs. 2 crores, the interest rate and maturity amount for different tenures are shown in the table below.

	Customers below 60 years of age		Senior citizens
Tenure	Interest rate	Maturity amount	Interest rate	Maturity amount
36 months	8.05% p.a.	Rs. 2,52,29,248	8.30% p.a.	Rs. 2,54,04,776
44 months	8.35% p.a.	Rs. 2,68,37,127	8.60% p.a.	Rs. 2,70,64,875
60 months	8.05% p.a.	Rs. 2,94,54,649	8.30% p.a.	Rs. 2,97,96,982

c. End-to-end online process

Bajaj Finance offers a completely online process for investing in their fixed deposit, ensuring the safety of returns and timely payouts.  With this information, you can confidently choose to invest in a Bajaj Finance online Fixed Deposit to grow your savings.

d. Flexible payment options 

By choosing Bajaj Finance FD, you have the flexibility to select either cumulative or non-cumulative options. The non-cumulative option is beneficial when you need a regular income stream, as you can receive interest payouts at your preferred frequency (monthly, quarterly, half-yearly, or annually). It is important to note that the interest rate for non-cumulative FDs may vary. You can use the fixed deposit interest rate calculator to determine the applicable rate and the interest you will earn for different payout options.

e. Small monthly deposits

Bajaj Finance also offers a Systematic Deposit Plan, allowing individuals to start their investment journey with affordable monthly payments as low as Rs. 5,000. Over time, these small monthly deposits can grow into a significant amount and contribute to your profits. Various tenure options are available to suit your needs.

Armed with this information it is now safe to say that this fixed deposit plan is an ideal choice for you. If you are looking for higher returns, maximum safety, and flexible payout all at once, invest today with our end-to-end online process. 

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