NBFC giant, Bajaj Finance has increased fixed deposit interest rates by 40% with effect from May 10, 2023, on multiple tenures ranging from 36 months to 60 months. Senior citizens can earn as high as 8.60% over a specified tenure of 44 months. These new interest rates are going to beat inflation!
At Bajaj Finance, depositors below the age of 60 can earn up to 8.05% per annum, while senior citizens can earn up to 8.30% per annum.
On a special tenure of 44 months, the NBFC player is offering 8.35% for general category and 8.60% for senior citizens.
These new interest rates are applicable on new deposits and renewal of maturing deposits 50 million.
Sachin Sikka, Executive Vice President – Fixed Deposits & Investments, Bajaj Finance Ltd., said, “FDs benefitting from rising interest rates have made them a preferred investment option. Bajaj Finance FDs offer inflation-beating interest The rates provide a safe investment option to customers while enabling them to earn higher returns on deposits. Depositors can get FD done in a matter of minutes through our digital journey. The digital and paperless process makes FD extremely convenient and fast.”
Check out the latest interest rates on FD:
Non-Senior Citizens:
Depositors below the age of 60 years can earn 7.40% over a period of 12 – 23 months; 7.50% for maturity period of 15 months to 23 months; 7.55% on 24 months tenure; 7.35% for a period of 25 – 35 months; and 8.05% for a tenure of 36 – 60 months.
Under the special tenor, these depositors can earn 7.45% on 15 months tenure, 7.40% on 18 months, 7.50% on 22 months, 7.45% on 30 months, 7.75% on 33 months and 8.35% on 44 months.
Senior Citizens:
A senior can earn 7.65% on maturities ranging from 12 months to 23 months; 7.75% for tenure above 15-23 months, 7.80% for 24 months; 7.60% for a period of 25 – 35 months; and 8.30% for a tenure of 36 – 60 months.
Senior citizens also have special FD rates on special tenures. They can earn up to 7.70% on 15 months, 7.65% on 18 months, 7.75% on 22 months, 7.70% on 30 months, 8% on 33 months and 8.60% on 44 months.
Bajaj Finance offers one of the best rates among large financial institutions in the country. Its digital journey provides a safe and simple route for investors to set aside and grow their savings.
As part of its omnipresence strategy, the company offers multi-channel options to customers to place FDs through its app, web, branches and distributors across 4000 locations across the country.
In addition, Bajaj Finance provides access to all mutual funds in the country through its Investment Marketplace app, thereby offering investors a wide range of investment options to choose from.
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