- Overview
- Fixed Deposit Calculator
- Eligibility Criteria
- Interest rate and charges
Choosing to go with a Fixed Deposit involves investing a principal amount. There is a minimum amount you can invest at a fixed interest rate. The interest rate is determined basis the investment tenure you choose. Over the course of the investment tenure, you gain interest on the amount deposited. This accrues and grows until the maturity of the FD where you can choose to withdraw or re-invest the amount. When you decide to invest in an FD, do keep in mind that the higher interest rates will provide you with a bigger amount at the time of maturity. Hence, you ought to go with the lender that offers the highest FD rates in India.
Bajaj Finserv Fixed Deposits available on Finserv MARKETS offers investors one the highest interest rates in all of India. Alongside, these FDs enjoy high safety ratings. This ensures that the principal amount you invest is safe.
For information on the best FD Interest Rates offered, please refer to the tables below:
For new customers
Tenor in months |
Minimum deposit (in Rs.) |
Cumulative |
Non-Cumulative |
|||
Monthly |
Quarterly |
Half Yearly |
Annual |
|||
12 – 23 |
25,000 |
6.10% |
5.94% |
5.97% |
6.01% |
6.10% |
24 – 35 |
6.30% |
6.13% |
6.16% |
6.20% |
6.30% |
|
36 - 60 |
6.60% |
6.41% |
6.44% |
6.49% |
6.60% |
|
For senior citizens
Tenor in months |
Minimum deposit (in Rs.) |
Cumulative |
Non-Cumulative |
|||
Monthly |
Quarterly |
Half Yearly |
Annual |
|||
12 – 23 |
25,000 |
6.35% |
6.17% |
6.20% |
6.25% |
6.35% |
24 – 35 |
6.55% |
6.36% |
6.40% |
6.45% |
6.55% |
|
36 - 60 |
6.85% |
6.64% |
6.68% |
6.74% |
6.85% |
|
For Online Customers
Tenor in months |
Minimum deposit (in Rs.) |
Cumulative |
Non-Cumulative |
|||
Monthly |
Quarterly |
Half Yearly |
Annual |
|||
12 – 23 |
25,000 |
6.20% |
6.03% |
6.06% |
6.11% |
6.20% |
24 – 35 |
6.40% |
6.22% |
6.25% |
6.30% |
6.40% |
|
36 - 60 |
6.70% |
6.50% |
6.54% |
6.59% |
6.70% |
|
Annual rate of interest valid for deposits up to Rs. 5 crore (w.e.f 2nd Nov 2020)
Common Queries Asked By FD Investors
Do you pay interest on FDs monthly?
Yes, we do. The choice of having the interest on fixed deposit paid on a periodic basis lies with the investor. You can opt for a monthly pay-out on your Bajaj fixed deposit.
Am I liable to pay tax on the interest earned through Fixed Deposits?
Yes, you are, as the interest earned is fully taxable. The interest that you earn when investing in an FD is added to your total income. Based on the tax-slab category, you are liable to pay tax on this total amount. This reflects under the section ‘Income from Other Sources’ in your IT Returns. Additionally, ‘Tax Deducted at Source’ or TDS will be deducted on the interest amount.
How do I select the best Fixed Deposit Rates Scheme?
Based on your requirements, you get to choose your FD pay-out. This could be at the end of the maturity period or you could always opt for periodic pay-outs. Should you have regular expenses to take care of, you can opt for periodic pay-outs. However, if you prefer receiving a lumpsum amount, then you should choose to get the interest at the end of the FD tenure. However, do keep in mind that selecting the best FD rates scheme is important as it affects the interest pay-out.
What makes FDs good investment options?
To start off, an FD is best suited for investors who do not like to take much risks and are looking for stable returns. Fixed Deposits offered on Finserv MARKETS allow for flexible investment tenures, competitive interest rates and period pay-outs and are the best when it comes to low-risk investment options that aren’t influenced by market fluctuations.
Speaking of tenures, what is the maximum and minimum FD tenures offered on Finserv MARKETS?
We offer investors the freedom of choosing their own FD tenures. The minimum tenure is 12 months while the maximum is 60 months. It is important to note that your Fixed Deposit rates is determined basis the tenure you choose.
Manage all your queries here
-
✔️Who can open a Fixed Deposit account with us?
You can start a Fixed Deposit with just Rs. 25,000. To apply, you must meet be a Resident Indian citizen. -
✔️What is the tenure I can choose for FDs?
Your fixed deposit schemes could range between 1 year to 5 years. -
✔️How to withdraw or renew Fixed Deposits?
As popular investment options, FDs are always subject to renewal and withdrawal. After the completion of your tenor, you can either renew or withdraw your FD. You can renew your FD easily online. If you don’t plan to renew your FD, your maturity amount will be directly credited into your bank account. -
✔️Who should invest in Fixed Deposit?
If you are a Resident Indian citizen, you can invest in a FD. They are safe investment avenues that help you grow your savings, without risk to your principal amount. You must invest in Fixed Deposits if you’re looking for: (1) Diversifying your investments (2) Higher returns with stability Flexibility in terms of tenor and pay out (3) Most risk-averse investors invest in FDs for their stability and assured returns. Since your returns are unaffected by market forces, you can look for assured returns. -
✔️How to choose the best Fixed Deposit scheme?
Choosing the right FD scheme is very important to get the best returns out of your investment. You must consider the following factors: 1. Rate of interest , 2. Credibility of FD provider, 3. Tenure, 4. Interest pay out frequency, and 5. Penalty rates. You will get one of the highest interest rates and you can choose your tenure and interest pay out frequency. -
✔️What are the different types of Fixed Deposits?
They are of two types – Cumulative and Non-Cumulative. In case of Cumulative FDs, the interest is compounded every quarter or annually, and paid at the time of maturity. In a Non-Cumulative FD, interest is paid out periodically, as per the investor’s choice. The regular interest pay outs can help you meet your daily expenses. Though both FDs offer better returns than a savings account, cumulative FDs help you earn higher returns. -
✔️What is TDS on an FD?
A TDS refers to the Tax Deducted at Source and as per the Section 194A of the Income Tax Act of 1961, interest that is earned from investing in fixed deposits floated by NBFCs and banks is taxable in case it crosses Rs. 5,000/Rs. 10,000 depending on the type of financial institution. The interest income for a single depositor will be computed after taking all his/her fixed deposits into account. The TDS is calculated by the financial institution and is paid into the requisite Government account depending upon the frequency of interest pay outs to the investor. The TDS certificate is given to the investor on a quarterly basis. In case the investor furnishes Form 15G/15H during the application stage for a fixed deposit, he/she will not have to pay tax on interest income. This can be furnished when the investor’s total income is lower than the taxable limit. Form 15G/H is valid for one financial year. -
✔️How to choose best Fixed Deposit Plan?
You have two options before you, namely Cumulative Fixed Deposits or Non-Cumulative Fixed Deposits. In case of Cumulative Fixed Deposits, the interest you earn on the principal amount will be compounded annually. This means that you can grow your wealth steadily and get the entire interest income paid out at the time of maturity along with the principal amount. There are no periodic pay outs of interest income and this scheme can actually multiply your money in a bigger way if you are disciplined enough and do not need regular interest income pay outs. In case of the non-cumulative FD scheme, the interest you earn on your principal amount will be paid out at regular intervals. This can be on a monthly or quarterly basis or even on a semi-annually or yearly basis. Now this scheme is ideal if you need the interest income paid out at periodic intervals. It all depends on your own circumstances and the goals you have from your FD, i.e. earning regular interest income or simply growing wealth for a specific tenure without any regular income needs. Apart from choosing between these two types, you should also select the best fixed deposit plan based on other parameters which are the following: (1) Rates of interest - You should always go for the highest possible rates of interest. (2) Tenure - You should choose flexible tenure as per your convenience. (3) Terms & Conditions - You should always choose a fixed deposit plan where you have convenient interest pay outs and keep in mind extra rates for senior citizens among other aspects. (4) Other features - Go for financial institutions which offer you online access to your fixed deposit account along with easy application and payment procedures. -
✔️Will any special rates be applicable for specific category of applicants?
Yes, specific category of applicants will be eligible for special rates as mentioned below: • Senior Citizens (more than 60 years of age, subject to provision of proof of age) – Additional rate of 0.25% p.a. for deposit size up to ₹5 Crore • Bajaj Group Employees – Additional rate of 0.25% p.a. (BHIL, BAL, BFS, BFL, MSL, BAGIC, BALIC, MUKAND and BAJAJ ELECTRICALS) for deposit size up to ₹5 Crore • Only one of the above special category benefit is allowed per transaction • Rate of interest for bulk deposits of more than ₹5 Crore may vary from the published card rate and to be decided on a case to case basis. -
✔️What are the benefits of a Fixed Deposit available on Finserv MARKETS?
Now avail of the best in class fixed deposits (AAA rated NBFC) at attractive rates. Finserv Markets is one of the fastest growing NBFCs from one of the most trusted and respected business houses in India offers an all new FD program for Indian residents. (1) Minimum deposit size of Rs.25000. (2) Rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, which means highest safety of your money (3) Attractive and assured rates of interest for your money to grow periodically. (4) Choose a tenor of any number of months from 12 to 60 carrying different rates of interest to suit everyone’s needs. (5) Branch presence across over 600 locations in India. (6) Access to all loan account details on our Customer Portal – Experia. (7) Flexibility of payment option through electronic or physical modes. (8) Special rates for senior citizens, existing customers and group employees. (9) Our in-house products are available at attractive rates specially to the depositor.
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