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Earn interest up to 7.75% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

A fixed deposit, also commonly referred to as an FD, is an investment instrument wherein you can park your surplus funds for a fixed period of time. An FD offers you the dual benefit of low risks and a fixed rate of interest. As compared to a savings account, a fixed deposit offers you higher rates of return. Given its dual benefits of marginal risk and a higher rate of interest, fixed deposits are a popular choice of investment among investors, for both the medium and long term.

 

The Bajaj Finance fixed deposit on Bajaj MARKETS offers you the advantages of high safety ratings, coupled with a high-interest rate of up to 7.75% per annum, making it a great instrument of investment to meet your medium and long-term financial needs and goals. Let us now look at the features and benefits of opening a fixed deposit.

Features of a Fixed Deposit

The following are the features of the Bajaj Finance Fixed Deposit offered by Bajaj MARKETS:

 

  • Minimum Tenure: If you wish to invest in Bajaj Finance Fixed Deposit offered by Bajaj MARKETS, the minimum tenure for the same is a period of one year.

  • Maximum Tenure: Investing in this FD offers you the benefit of a maximum tenure of five years.

  • Rate of Interest: Investing in this FD will offer you an attractive interest rate ranging from 6.03% p.a. to 7.75% per annum.

  • Minimum Deposit Amount: In order to make an investment in this FD, the minimum deposit amount is Rs. 15,000.

  • Hassle-Free Application Process: Investing in this FD is made easy thanks to a seamless and hassle-free application process.

  • Option for Online Payment: To make a deposit, you have the option to pay digitally, via net banking or UPI.

Annual Rate of Interest on Fixed Deposits

Rate of interest Valid for deposits up to Rs.5 crore (w. e. f. 1st July, 2022)

Tenor in months

Minimum deposit

(in Rs.)

Cumulative Interest Rate

12 – 23

15,000

6.20%

24 – 35

15,000

6.95%

36 - 60

15,000

7.40%

FD Interest Rates for Non-Senior Citizens

The FD interest rates mentioned above are applicable for non-senior citizens as of 1-July-2022 for cumulative deposits between the range of Rs. 15,000 to Rs. 5 Cr; these may be subject to change as per company policies.

Period

Minimum deposit

(in Rs.)

Cumulative At Maturity (% p.a.)

Non-Cumulative

Monthly 

(% p.a.)

Quarterly 

(% p.a.)

Half Yearly 

(% p.a.)

Annual 

(% p.a.)

12 – 23 months

15,000

6.2%

6.03%

6.06%

6.11%

6.2%

24 – 35 months

6.95%

6.74%

6.78%

6.83%

6.95%

36 - 60 months

7.4%

7.16%

7.2%

7.27%

7.4%

The FD interest rates mentioned above are applicable for non-senior citizens as of 1-July-2022 for non-cumulative deposits between the range of Rs. 15,000 to Rs. 5 Cr; these may be subject to change as per company policies.

FD Interest Rates for Senior Citizens of Bajaj Finance Fixed Deposit

The FD interest rates mentioned above are applicable for senior citizens as of 1-July-2022  for cumulative deposits between the range of Rs. 15,000 to Rs. 5 Cr; these may be subject to change as per company policies

Tenor in months

Minimum deposit

(in Rs.)

Non-Cumulative

Monthly

Quarterly

Half-Yearly

Annual

12 – 23

15,000

6.27%

6.30%

6.35%

6.45%

24 – 35

15,000

6.97%

7.01%

7.08%

7.20%

36 - 60

15,000

7.39%

7.44%

7.51%

7.65%

The FD interest rates mentioned above are applicable for senior citizens as of 1-July-2022 for non-cumulative deposits between the range of Rs. 25,000 to Rs. 5 Cr; these may be subject to change as per company policies.

Special FD Interest Rates of Bajaj Finance Fixed Deposit

Bajaj Finance offers the most competitive FD interest rates, however, you can get a better interest rate if you opt for a Special Fixed Deposit. Special FDs offer better interest rates at a specific tenor.

 

The table below encapsulated the Special rates offered to Non-Senior Citizens and Senior Citizens:

Tenor

(in months)

Cummulative Interest Rate

Non-Senior Citizens

Senior Citizens

15

6.40%

6.65%

18

6.50%

6.75%

22

6.65%

6.90%

30

7.05%

7.30%

33

7.15%

7.40%

44

7.50%

7.75%

Disclaimer: The aforementioned FD interest rates are valid as of 1-July-2022, and may be subject to change as per company policies.

Benefits of Bajaj Finance Fixed Deposit

  • Higher Senior Citizen FD Rates: A fixed deposit is an ideal form of investment for all senior citizens, offering the dual benefit of lucrative rates of interest and marginal risks. If you are over the age of 60, and you avail of the Bajaj Finance Fixed Deposit, you are eligible for an additional 0.25% of interest, over and above the regular interest rates.

  • Types of Fixed Deposits: Essentially, there exist two types of fixed deposits – cumulative and non-cumulative fixed deposits. In the case of the former, your interest will be compounded annually, and you will receive a lump sum amount at maturity. In the case of the latter, your interest will be paid monthly, quarterly, half-yearly or annually, based on your choice.

  • Fixed Deposit for NRIs: The Bajaj Finance Fixed Deposit also extends this plan to Non-Resident Indians (NRIs), Persons of Indian Origin (PIO), and Overseas Citizens of India (OCI). They are offered the plan for a tenure ranging from anywhere between twelve and thirty-six months, with the interest rate for new customers extending up to 7.5% and for senior citizens, extending up to 7.75%.

  • Systematic Deposit Plan: This refers to a monthly savings plan, allowing investors to make small deposits every month, with the prevailing rate of interest every month being applicable on the deposits made. As per the Systematic Deposit Plan, the Bajaj Finance Fixed Deposit scheme offers a Single Maturity Scheme and a Monthly Maturity Scheme. Under the former, you can choose from a tenure between nineteen and sixty months, are allowed six to fourty-seven deposits, and can receive your maturity income payment on a single day. Under the latter, you can choose from a tenure between one to five years, are allowed six to fourty-eight deposits, and can receive your maturity income on a monthly basis.

  • High Stability and Credibility Ratings: The Bajaj Finance Fixed Deposit scheme is highly rated by CRISIL’s FAAA/Stable rating, as well as by ICRA’s MAAA (Stable) rating. This means that investment in this fund is a very safe choice and that you can be assured of a guaranteed return, without any back-tracking by the financier.

  • Flexible Tenure: As per your financial requirements and long-term goals, you can choose from a flexible tenure ranging from anywhere between twelve months to sixty months.

  • Fixed Deposit Calculator: Before investing in this FD, you can make use of the Fixed Deposit Calculator to may make estimates pertaining to the interest rate, expected returns, and the maturity amount – before you actually invest in the fund.

  • Minimum Deposit Amount of ₹15,000: The Bajaj Finance Fixed Deposit scheme allows you to start investing with an amount as low as Rs. 15,000, making it easily accessible by small investors too.

  • Paperless Online Application Process: A huge bonus of the Bajaj Finance Fixed Deposit scheme is that you do not have to submit any paperwork to enroll in the scheme. The process to do so is seamless and hassle-free, involves no paperwork, and can be completed in simple steps online.

  • Online Loan Against Fixed Deposit: To prevent premature withdrawals of your FD during emergencies, the Bajaj Finance Fixed Deposit scheme allows you to take a loan against your FD, for up to 75% of your deposit value.

  • Renewal of your fixed deposit: At the time of applying for your FD, you can opt for an auto-renewal, to prevent the hassle of doing so again at the time of maturity.

Simple Steps to book your Bajaj Finance FD

To book your Bajaj Finance Fixed Deposit scheme, follow the steps mentioned below:

 

1. Start by entering your mobile number and date of birth, and then verify the same by entering the OTP you will receive.

 

2. If in case you are an existing customer, proceed by entering your nominee details. If you happen to be a new customer, enter your PAN Card details or Aadhaar details and complete the KYC process.

 

3. Once done, enter your choice of deposit amount, the tenure and interest pay-out type, and proceed by entering your bank details.

 

4. Complete the process by making the payment via Net Banking or UPI. On the completion of the same, you will receive an acknowledgment via SMS or email within 15 minutes.

How to invest in Bajaj Fixed Deposit using Bajaj Markets app

Investing in a fixed deposit is easy. Here are are some quick and easy steps to help you get started.

Opening an FD with the Bajaj MARKETS app is simple: 

  • Step 1: Click on the ‘Fixed Deposit’ icon under ‘Invest’ section on the Bajaj MARKETS app.

  • Step 2: Fill in your details and verify your mobile number by requesting an OTP.

  • Step 3:  On entering your OTP, you’d be taken to the Bajaj Finance Fixed Deposit section.

  • Step 4: Enter the desired deposit amount, tenor, and interest pay-out type.

  • Step 5: Review the total pay-out amount and ROI applicable on your investment before you click on ‘Proceed’

  • Step 6: Enter the required details and choose to pay via Net banking and UPI.

That’s all. You can now sit back and wait for your returns to grow steadily. 

Why invest in Bajaj Finance Fixed Deposit?

Investing in the Bajaj Finance Fixed Deposit scheme is a sound investment decision, owing to

  • Attractive Rate of Interest: This scheme can provide you with high rates of interest, of up to %$$FDmaxrate$$% per annum.

  • Additional Interest for Senior Citizens: As a senior citizen, you can avail of an additional interest rate of 0.25% per annum.

  • Reliability and Safety: With CRISIL AAA/Stable and [ICRA]AAA(Stable) rating, this scheme is one of the most reliable investment instruments in the market.

  • Flexibility: If you opt for this scheme, you can choose differing tenures, ranging from 12 months to 60 months.

  • Convenient Application Process: This scheme comes with a hassle-free online application, renewal, and redemption process.

Simple Steps to book your Bajaj Finance FD

  • Book your FD in a few simple steps: Enter mobile number, date of birth and verify OTP to continue

  • If you're an existing customer enter nominee details to continue. In case you are a new customer complete your KYC by providing PAN or Aadhaar or simply upload documents

  • Enter deposit amount, tenure and interest pay-out type, along with bank account details

  • Choose to pay via Net Banking or UPI. For investment above Rs. 1,00,000, only Net Banking option is available. Upon successful payment, your deposit will be booked and you'll receive an acknowledgement via email and SMS within 15 minutes

Why Bajaj Finance FD on Bajaj MARKETS?

Why invest in Bajaj Finance Fixed Deposit?

High interest rates, upto 7.45% Bajaj Finance Fixed Deposit account helps you generate wealth in the long term by providing assured returns up to 7.45%!

Minimum deposit of ₹15,000 With Bajaj Finance Fixed Deposit, you can open FD account with as low as ₹15,000.

Flexible Tenor from 12 months to 5 years You get great flexibility in your fixed deposit account. You can invest from 12 months to 5 years depending on your investment plans.

High Stability and Credibility ratings by CRISIL and ICRA Bajaj Finance Fixed Deposit has high stability ratings by CRISIL and ICRA. This means that your investment is in safe hands.

Additional 0.25% interest for senior citizens Bajaj MARKETS offers special rates for senior citizens Fixed Deposit account that are as high as 0.25%, over and above the existing rates.

Frequently Asked Questions on Fixed Deposit

✔️What happens to FD once it matures?

Once the FD matures, the maturity amount is transferred electronically in the bank account which the investor mentioned in the initial investment form.

✔️Who can open a Fixed Deposit account with us?

You can start a Fixed Deposit with just Rs. 15,000. 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 0.10% 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 Bajaj MARKETS?

Now avail of the best in class fixed deposits (AAA rated NBFC) at attractive rates. Bajaj 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.

✔️What amount can be deposited in a Fixed Deposit?

In Bajaj Finance fixed deposit, you can start your investment with an amount as low as ₹15,000. You can invest up to ₹5 Crore in Bajaj Finance FD. For an amount higher than ₹5 Crore, you will be required to get in touch with our representative.

✔️Can I get monthly interest on an FD?

Yes, you can get monthly interest on your fixed deposit investment. You will have to opt for a non-cumulative FD plan at the time of investing. By choosing the non-cumulative FD plan, you can get a fixed income regularly. With Bajaj Finance FD, you can get the periodic incomes on a monthly, quarterly, semi-annual or annual basis as per the preferred tenor. However, the interest rates offered on a non-cumulative FD are lower as compared to cumulative FD.

✔️How can I Invest in an FD?

You can easily invest in an FD by visiting the respective branch or filling out the online application form if it is available. You can invest in Bajaj Finance FD by filling the online application form available on the official website. The existing customers can also visit the online investment form and start their FD right away. Apart from this paperless process, you can also visit the nearest Bajaj Finance FD branch and start your investment using a debit card or a cheque.

✔️Is FD safe?

Yes, a fixed deposit is one of the safest investment options as your invested amount is unaffected by any market fluctuations. Irrespective of the market conditions, you will still get your returns at the decided interest rate at the time of your investment. You can invest in a Bajaj Finance FD for a safer investment environment as it comes with CRISIL’s FAAA/Stable rating and ICRA’s MAAA (Stable) rating. This means that your investment is never at risk.

✔️What is the minimum Tenor for an FD?

The minimum tenor of a fixed deposit depends on the bank or NBFC where you are investing. The minimum tenor in a Bajaj Finance FD is 12 months.

✔️What are the benefits of investing in FDs?

Investing in an FD has several benefits as it helps you achieve your financial goals with minimum risk. You can invest in Bajaj Finance FD as it offers a flexible tenor ranging from 12 months to 60 months. You will also get one of the best FD interest rates that are as high as 7.45%. You can start your fixed deposit investment in an easy online paperless process with a minimum deposit of ₹15,000

✔️Can I withdraw money from an FD before maturity?

Yes, you can avail of a premature withdrawal facility in an FD. In Bajaj Finance FD there is a fixed lock-in period of 3 months. There is no penalty on premature withdrawal of FD. However, you may incur losses in terms of your interest income. With Bajaj Finance FD you can tend to your emergency financial needs by taking a loan against FD.

✔️How can I save money on an FD?

If you have a surplus amount to invest, you can split it into multiple FDs with different tenors. This will earn you interest for every deposit. The interest income earned can be received on maturity or you can also opt to receive it on a monthly, quarterly, half-yearly or annual basis. With deposits starting at ₹5,000, you can also save on a monthly basis with a Systematic Deposit Plan. You can also earn an additional 0.10% of interest rate if you invest in Bajaj Finance FD online.