What is a Fixed Deposit?

Fixed Deposits are one of the safest investment instruments to help you grow your savings. In a Fixed Deposit, you put a lump sum in your bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, you receive the amount you have invested plus compound interest. Another name for Fixed Deposits is Term Deposit.

Is the interest earned on a fixed deposit taxable?

Income earned as interest on fixed deposit is taxable according to the relevant tax slab. Usually, banks deduct TDS at the rate of 10% if the annual income from a scheme is more than Rs 10,000. To prevent TDS, an FD policyholder can submit either Form 15H or 15G—both self-declaration forms, stating that the policyholder’s income is not within the taxable income bracket—to the bank. A policyholder can also claim tax refund while filing annual returns for income tax.

Features and Benefits of Bajaj Finserv FD

  • Fast Online Process

Forget visits to any branch or a lengthy documentation process. With Finserv MARKETS, apply for an Bajaj Finance FD, submit documents and keep track of your fixed deposit account online. Seamless and hassle-free!

  • Competitive Interest Rates

Finserv MARKETS offers the best fixed deposit interest rates in India. Bajaj Finance FD interest rates can go up to 7.25%.

  • Senior Citizen Benefit

Finserv MARKETS offers senior citizen FD interest rates that are as high as 0.25%, over and above the existing rates.

  • Flexible FD Tenure

Choose an investment period that ranges from 12 months to 5 years.

  • Assured Returns

Finserv MARKETS and secured investments go hand in hand. Irrespective of market fluctuations, we promise high returns. Your money is in safe hands.

  • Eligibility Criteria

    • Indian citizen residing in the country.
    • HUF (Hindu Undivided Family).
    • Sole proprietors, partnership firms, and companies (includes group companies).
    • Clubs, Societies and Associations.
    • Family trust.

Fixed Deposit Taxability

Income earned on Fixed Deposit is fully taxable. The tax deducted ranges from 0 to 30%, depending on the investor’s income tax bracket. However, one can claim a refund of the TDS on FD interest if your income is below the minimum tax slab of 10%.

Why Bajaj Finserv FD?

Bajaj Finance FD allows you to grow your money and get great returns at a high interest rate of 7.25%. You can choose from multiple types of Fixed Deposit schemes and invest in the one which suits you best. Calculate your FD returns with the help of Bajaj Finserv FD Calculator and open an FD online

Bajaj Finance Fixed Deposit is trusted by millions because of FAAA ratings from CRISIL and MAAA rating from ICRA. This helps you earn assured returns.

Bajaj Finserv FD Rates

Bajaj Finserv FD schemes come with attractive rates of interest and high credit ratings by the leading rating agencies of the country.

  • For New Customers:

Tenor in months

Minimum deposit (in Rs.)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Annual

12 – 23

25,000

6.15%

5.98%

6.01%

6.06%

6.15%

24 – 35

6.60%

6.41%

6.44%

6.49%

6.60%

36 - 60

7.00%

6.79%

6.82%

6.88%

7.00%

  • For senior citizens:

Tenor in months

Minimum deposit (in Rs.)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Annual

12 – 23

25,000

6.40%

6.22%

6.25%

6.30%

6.40%

24 – 35

6.85%

6.64%

6.68%

6.74%

6.85%

36 - 60

7.25%

7.02%

7.06%

7.12%

7.25%

  • For Online customers:

Tenor in months

Minimum deposit (in Rs.)

Cumulative

Non-Cumulative

Monthly

Quarterly

Half Yearly

Annual

12 – 23

25,000

6.25%

6.08%

6.11%

6.16%

6.25%

24 – 35

6.70%

6.50%

6.54%

6.59%

6.70%

36 - 60

7.10%

6.88%

6.92%

6.98%

7.10%

FAQs

  • ✔️Can a policyholder close a fixed deposit before maturity?

    A fixed deposit can be closed before maturity. This is known as premature withdrawal. In such cases, interest will be calculated as per the duration of the deposit amount. You must, however, remember that certain financial institutions can levy a penalty on premature withdrawal.

  • ✔️Can you open a joint fixed deposit?

    You can choose to open your fixed deposit jointly with someone like your parents, siblings, or spouse. In a joint fixed deposit, the first account holder has to pay the TDS. Similarly, the interest is also paid to the primary holder’s account.

  • ✔️Can you avail a loan against fixed deposits?

    In the case of a financial emergency, you can easily take a loan against your fixed deposit. As your FD amount acts as the collateral, these loans are easy and hassle-free to avail.

  • ✔️What is the minimum amount to be invested in a fixed deposit?

    There is no mandated amount for minimum investment. Rather, the minimum amount varies from one financial institution to another. For example, in the case of Fixed Deposit on Finserv MARKETS, you can invest with a minimum amount of Rs 25,000 without waiting for a larger corpus.

  • ✔️What is fixed deposit with example?

    Fixed deposit is one of the most popular financial investment instruments offered by many banks & NBFCs across India which allows investors to deposit money and get a higher rate of interest than a normal savings account. You can use the Bajaj Finance Fixed Deposit Calculator to check the growth of your FD. The calculator follows the below formula:

    M = P + (P x r x t/100), where –

    • M is the maturity amount
    • P is the principal amount that you deposit
    • r is the rate of interest per annum
    • t is the tenure in years

    For example, if you deposit a sum of Rs. 1,00,000 for 4 years at 9% interest, your FD would look like this: M = 1,00,000 + ((1,00,000 * 9 * 4)/100) = 1,36,000

  • ✔️Is a fixed deposit an asset or a liability?

    Fixed Deposit is an asset. It may be classified under the group of Long Term Investments which can be turned to cash in a short time!

  • ✔️Can you lose money in fixed deposit?

    The best part is that FDs are an extremely safe choice with no risk related to market fluctuations. However, during times of inflation, FD returns at times can be around the same as inflation or even lower than inflation rates leading to wealth erosion for the investor.

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