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)

FD Interest Rates for Non-Senior Citizens

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

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

The FD interest rates mentioned above are applicable for senior citizens as of 1st July, 2022 for non-cumulative deposits between the range of Rs. 25,000 to Rs. 5 crore; 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:

Disclaimer: The aforementioned FD interest rates are valid as of 1st 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 7.75% 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.