Bajaj Finserv FD Interest Rates
Bajaj Finserv grants its customers various FD options with healthy interest rates. They can deposit the required amount once at the time of opening the account with the bank. Bajaj Finserv FD rates have been ranked AAA by ICRA and CRISIL. FD is one of India’s most reliable investment options as it allows the depositor to take charge of the investments with great adaptability and offers assured returns.
Bajaj Finserv Fixed Deposit Features
Bajaj Finserv FDs are the most suitable investment prospect for depositors studying to invest in a fixed revenue tool and earn higher returns than a savings account. Some key features of Bajaj Finserv Fixed Deposit are:
- Deposit Amount: Bajaj Finserv FD can be initiated with a small sum of ₹ 25,000 to up to No Limit.
- Interest Rate Range: 6.15% – 7.00% p.a.
- Senior Citizens FD Rate: 6.40% to 7.25% p.a.
- FD Tenure: 12 months to 60 months.
- Highest Interest Rate: Bajaj Finserv’s highest interest rate on FD is 7.00%, provided for 60 months.
- Loan against FD: Bajaj Finserv provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
- Auto-Renewal Facility: Available
- Nomination Facility: Available
- Popular FD Schemes: Regular FD, Bajaj Finserv 5-Year Tax Saving FD
Bajaj Finserv FD Interest Rates
|Tenure (in Months)||FD Rates for Non-senior citizens||FD interest rates for Senior Citizen|
|12 – 23||5.98% – 6.15%||6.22% – 6.40%|
|24 – 35||6.41% – 6.60%||6.64% – 6.85%|
|36 – 60||6.79% – 7.00%||7.02% – 7.25%|
Types of Bajaj Finserv Fixed Deposit Schemes
Regular Fixed Deposits
- This plan enables the depositor to preserve money by depositing it into the FD account and receiving assured interest on it over a certain period.
- A nomination facility is free.
- Sweep in and super saver facility available.
- Attractive interest rates
- Up to 90% loan facility is open on your deposit.
Tax Saving Fixed Deposit
- As the name implies, this deposit is only meant for tax gains, and you can preserve the tax under Section 80C of the IT Act.
- In the case of joint accounts, only the first holder is qualified for tax advantages under 80C.
- A nomination feature is available.
- Interest on deposit is compounded every 3 months.
- The payout can be monthly as well as quarterly.
- The user can open it via net banking.
Documents required to open a Bajaj Finserv Fixed Deposit Account
- Recent passport-size photograph
- KYC (Know-Your-Customer) documents
Individual and Company Proofs:
- Aadhaar card
- PAN Card
- Voter’s ID
- Driving License
Bajaj Finserv FD Rates – Premature Withdrawal
The premature conclusion of Term Deposit with Bajaj Finserv is along with the lower interest rate of 1% than the negotiated rate. The corrective procurements for premature conclusion on Bajaj Finserv FD are subject to revision from time to time and may also fluctuate with deposit plans.
Loan against FD Bajaj Finserv
Bajaj Finserv extends the loan up to 90% upon its own deposit. Note that Bajaj Finserv will not give you a loan against FD of any other bank. Bajaj Finserv offers a Loan against FD at a rate of 3.5% to 6.5%.
Bajaj Finserv FD Calculation
Any bank’s fixed deposit calculator will give you an idea of how much you’ll gain on fixed deposits. It would be best to use the Bajaj Finserv FD Calculator, which is readily available on the internet. It clearly demands information such as the type of fixed deposit, the year, the word, and the deposited sum.
Opening Process for Bajaj Finserv FD Account
To start an FD account in Bajaj Finserv, you can:
- Visit the official website.
- Login to your current account or register for a new one.
- Choose the FD icon from the menu, select the FD Type you want to start, and proceed further.
- You have to enter the deposit amount and select the ‘Senior Citizen’ option if you are over 60.
- You have to select the tenure and interest payout recurrence.
- Click on Submit to open the Bajaj Finserv FD after agreeing to the terms and conditions.
Nomination Facility on Bajaj Finserv FD
Bajaj Finserv provides a nomination facility on FD to demand the amount if the depositor dies. An individual, single or joint account holder can designate a nominee. Only 1 person can be designated as the candidate. You can enter nominee info while starting a Bajaj Finserv FD account. The nominee has to present his/her ID proof at the time of application.
Tax Benefits on Bajaj Finserv FD
Bajaj Finserv grants a Tax Saver FD plan so that the depositor can obtain attractive interest rates and receive benefits under Section 80C of the IT Act,1961. After making an initial investment of Rs. 100 up to Rs. 1.5 lakh, you can decide to reinvest the interest obtained or get a quarterly or monthly payout. The account arrives with a minimum lock-in term of 5 years.
Bajaj Finserv News Snippets
Bajaj Finance revised its FD rates. The FD rate for 12 to 23 months is 7.60%, for 24 to 35 months, it is 7.65% and 7.70% for 36 to 47 months. Further, the FD rates for 48 to 60 months is 7.80%. The changed rates have been in effect from 5 March 2020.
Bajaj Finance announced that its net revenue increased by 71% to Rs 1204 crores, and its total earnings rose to Rs 14,224 crores. The Bank states that it earned a large income from deposits obtained and from retail financing on personal and home loans.
FAQs about Bajaj Finserv FD Interest Rates
✅ How much amount do you need to open an FD account with Bajaj Finserv?
The minimum deposit amount required to open an FD account with Bajaj Finserv is Rs. 25,000.
✅ What tenure range does Bajaj finance provide?
The tenure for Bajaj Finserv ranges from 365 days to 5 years.
✅ What is the highest interest rate offered by Bajaj Finserv?
Bajaj Finance offers a lucrative interest rate of up to 7.00% on Fixed Deposits for general citizens and 7.25% for senior citizens.