New Delhi, March 06, 2023: Bajaj Finance, the lending arm of Bajaj Finserv Ltd., one of India’s leading and diversified financial services groups, today announced an increase in interest rates on Fixed Deposits, taking it for senior citizens at 8.20 percent per annum, for a tenure of 44 months.
The company has hiked FD rates by up to 35 basis points, for tenures between 15 months to 23 months, with effect from March 4, 2023. Depositors below 60 years can earn up to 7.95 percent per annum. For the special tenure of 33 months introduced last year by Bajaj Finance, non-senior citizens can avail of FD interest rates of up to 7.75 percent per annum while senior citizens can earn up to 8.00 percent per annum.
Sachin Sikka, Executive Vice President – of Fixed Deposits & Investments, Bajaj Finance Ltd., said, “The current interest rate environment allows investors to make the most of Fixed Deposits. Our revised interest rates on Fixed Deposits in the 44-month bucket are as high as 8.20%, enabling investors to gain from inflation-beating rates and liquidity. Booking an FD with Bajaj Finance is completely digitized and paperless, making it a simple and secure process for investors.”
Bajaj Finance Ltd. offers one of the highest rates among large financial institutions in the country. Its digital journeys offer investors a secure and simplified route to set aside and grow savings. The company offers Fixed Deposits and attractive interest rates through its app, web, branches, and distributors in 4000 locations across the country. In addition, Bajaj Finance also offers access to all mutual funds in the country through its Investment Marketplace app, offering investors a wide array of investment options to choose from.
- Bajaj Finance FD Rates (% per annum) for Non-Senior Citizens, w.e.f. 04 March 2023
- Regular Period
| Period (months) | Cumulative | Non-Cumulative | ||||
| At Maturity | Monthly | Quarterly | Half Yearly | Annual | ||
| 12 – 14 months | 7.40 | 7.16 | 7.20 | 7.27 | 7.40 | |
| >15 – 23 months | 7.50 | 7.25 | 7.30 | 7.36 | 7.50 | |
| 24 months | 7.55 | 7.30 | 7.35 | 7.41 | 7.55 | |
| 25 – 35 months | 7.35 | 7.11 | 7.16 | 7.22 | 7.35 | |
| 36 – 60 months | 7.65 | 7.39 | 7.44 | 7.51 | 7.65 | |
Special Period
| Period (months) | Cumulative | Non-Cumulative | ||||
| At Maturity | Monthly | Quarterly | Half Yearly | Annual | ||
| 15 months | 7.45 | 7.21 | 7.25 | 7.32 | 7.45 | |
| 18 months | 7.40 | 7.16 | 7.20 | 7.27 | 7.40 | |
| 22 months | 7.50 | 7.25 | 7.30 | 7.36 | 7.50 | |
| 30 months | 7.45 | 7.21 | 7.25 | 7.32 | 7.45 | |
| 33 months | 7.75 | 7.49 | 7.53 | 7.61 | 7.75 | |
| 44 months | 7.95 | 7.67 | 7.72 | 7.80 | 7.95 | |
- Bajaj Finance FD Rates (% per annum) for Senior Citizens, w.e.f. 04 March 2023
- Regular Period
| Period (months) | Cumulative | Non-Cumulative | ||||
| At Maturity | Monthly | Quarterly | Half Yearly | Annual | ||
| 12 – 14 months | 7.65 | 7.39 | 7.44 | 7.51 | 7.65 | |
| >15 – 23 months | 7.75 | 7.49 | 7.53 | 7.61 | 7.75 | |
| 24 months | 7.80 | 7.53 | 7.58 | 7.65 | 7.80 | |
| 25 – 35 months | 7.60 | 7.35 | 7.39 | 7.46 | 7.60 | |
| 36 – 60 months | 7.90 | 7.63 | 7.68 | 7.75 | 7.90 | |
Special Period
| Period (months) | Cumulative | Non-Cumulative | ||||
| At Maturity | Monthly | Quarterly | Half Yearly | Annual | ||
| 15 months | 7.70 | 7.44 | 7.49 | 7.56 | 7.70 | |
| 18 months | 7.65 | 7.39 | 7.44 | 7.51 | 7.65 | |
| 22 months | 7.75 | 7.49 | 7.53 | 7.61 | 7.75 | |
| 30 months | 7.70 | 7.44 | 7.49 | 7.56 | 7.70 | |
| 33 months | 8.00 | 7.72 | 7.77 | 7.85 | ||
