Earn interest up to 7.95% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

  • Overview
  • Fixed Deposit Calculator
  • Interest Rates and Charges

Fixed deposits (FDs) are financial instruments that let you save your funds for a predefined period of time at a predetermined rate of interest. Bajaj Finance, a Non-banking Financial Company (NBFC), offers fixed deposits at attractive interest rates of up to 7.95% for tenors of up to 5 years, providing you with dual benefits of higher rates of interest and minimum risk. 

Features of Bajaj Finance FD 

  • High Rate of Interest 

Bajaj Finance fixed deposit provides interest rates that range from 6.60% to 7.95% per annum with an additional 0.25% for senior citizens. With interest rates as high as that of Bajaj Finance, you will be able to maximise your returns and contribute to building your corpus in the long run. 

  • Flexible Tenors 

Bajaj Finance fixed deposit offers tenors that begin from a period of 12 months going all the way up to 60 months. On the basis of your financial requirements you can opt for a tenor that caters to your monetary needs. 

  • Minimal Deposit Option

You can book a Bajaj Finance FD with a deposit amount of ₹15,000. Subsequently, you can open an FD account and save for your financial goals even with smaller spare funds. Furthermore, Bajaj Finance FDs provide Multiple Deposit Facilities that help you book multiple FDs with different tenors to access your funds easily during emergencies. 

  • Trustworthy Credit and Safety

Renowned credit rating entities such as CRISIL and ICRA have rated Bajaj Finance fixed deposit with a FAAA and a MAAA rating respectively, that suggest highest degree of safety and credit quality making Bajaj Finance FD a reliable and trustworthy savings option.

  • FD Calculator

With a Fixed Deposit Calculator you can estimate your returns and maturity amount before you invest in an FD by entering your preferred tenor and interest rate.

  • Auto-Renewal  

You can avoid the additional effort of renewing your FD manually, but resorting to the auto-renewal feature provided by Bajaj Finance FD . 

Why Invest in Bajaj Finance Fixed Deposit ?

A Bajaj fixed deposit offers numerous features and benefits that make it a worthwhile savings instrument. Here are a few reasons why you should save in a Bajaj Finance fixed deposit 

  • High Returns

With interest rates as high as 7.95% you will be able to receive high and assured returns on your investments which will lead to the creation of wealth. 

  • Flexibility of Payout Frequency

Bajaj Finance fixed deposit offers cumulative as well as non-cumulative FDs that you can choose from, based on your financial aspirations. Depending on how often you require funds, you can opt for a cumulative FD and receive interest payouts at the end of your tenor or opt for a non-cumulative FD and receive payouts on a monthly, quarterly, half-yearly or annual basis.  

  • Multiplied Savings 

The high interest rates offered by Bajaj Finance fixed deposits enable the multiplication of your savings, and make them grow manifold. With increased funds, you will be able to strengthen your corpus over a specified period of time. 

  • Liquidity of Funds

The Premature Withdrawal offered by Bajaj Finance Fixed Deposit facilitates the liquidity of funds. Having multiple FD accounts gives you the liberty to prematurely close one of your FDs in times of exigencies. 

  • Hassle-free Procedur

The feature of online payments provided by Bajaj Finance fixed deposit makes it easier for you to book a Bajaj FD online without having to face the hassle of getting out of your homes.

  • Loan Against FD

A Bajaj fixed deposit lets you apply for a loan of up to 75% of your deposit amount against your FD and refrain from paying the premature withdrawal charges in times of emergencies.

Eligibility Criteria & Documents Required

Saving in a Bajaj Finance fixed deposit, requires you to be qualified under a set eligibility criteria and submit essential documents for the completion of the application procedure. 

1. Eligibility Criteria

Following are the Individuals and Non-individuals eligible to book an FD:

 

  • Indian residents

  • Persons of Indian origin

  • NRIs 

  • Joint stock companies

  • Hindu Undivided Families (HUFs)

  • Partnership firms

  • Registered societies

  • Public and private limited companies. 

2. Documents Required to Open a Fixed Deposit Account with Bajaj Finance 

In addition to meeting the minimum requirements to be eligible for an FD, you are also required to submit documents of identity and address proof to substantiate your application. 

3. Document Required for Individual 

Following are the documents required for an individual to book a Bajaj Finance fixed deposit :

 

  • Self-attested copies of KYC documents for address and identity proof. 

  • Latest passport size photographs.

  • PAN Card details

4. Document Required for Hindu Undivided Family

Here are the documents you would need to submit if you are an HUF: 

 

  • PAN Card of the head of the HUF

  • Declaration Deed 

  • KYC documents 

  • Statement of bank account

5. Document Required for Partnership Firm

You would have to submit the documents given below if you are a partnership firm:

 

  • Identity proof of all the partners 

  • Registration certificate 

6. Document Required for Joint Stock Companies

In case you are a joint stock company, you will have to submit the documents listed below:

 

  • Memorandum and Articles of Association 

  • Authorisation from the Board of Directors

  • Incorporation certificate

How to Book a Bajaj Finance FD 

Booking a Bajaj Finance fixed deposit is a simple process that involves the following:

  • Comparing interest rates 

It is crucial that you compare interest rates to pick the one suited to give you high returns and achieve your financial goals.

  • Opting the right tenor 

It is imperative that you opt for a tenor that goes in accordance with your monetary requirements and helps your funds grow.

  • Choosing a payout frequency 

Opting a payout frequency on the basis of when you’d like to receive your earned interest is important since it impacts your overall maturity amount.

  • Picking a deposit mode

You can either choose to book a Bajaj Finance FD online or opt for an offline mode of deposit depending on what is most convenient for you to make your FD booking experience seamless. 

Taxation on Bajaj Finance Fixed Deposit

Every earning individual is liable to pay taxes as per the Income Tax Act of 1961. Since Fixed Deposits are categorised as an alternative source of income they are eligible for tax deductions at the source. A 10% tax is levied on interest earned above ₹40,000 for non-senior citizens and ₹50,000 for senior citizens. However, if you are not a PAN holder, a 20% tax will be levied.

Latest Bank FD News

Bajaj Finance Ltd. Hikes FD Rates and Introduces FD for 39 Months

Bajaj Finance Limited introduced a new 39-month special tenor fixed deposit, effective from 22 November 2022. The FD rate is set at 7.85% for senior citizens and 7.60% for non senior citizens. The NBFC also raised its FD interest rates by 10 bps and hence, the highest interest rate stands at 7.95% for senior citizens and 7.70% for non-senior citizens, for a tenor of 44 months.  

 

Sachin Sikka, Executive VP, FD & Investments at Bajaj Finance Ltd. stated that they usually change their rates twice a year. However, owing to the hike in repo rates by 25 bps by RBI in this financial year and some other factors, they launched an FD with a new tenor.

 

- Nov  22, 2022

FAQs About Bajaj Finance FD

  • ✔️How much amount do you need to book a Bajaj Finance FD?

    The minimum amount required to book a Bajaj Finance fixed deposit is ₹15,000. You can invest a maximum amount of up to ₹5 Crores.

  • ✔️What is the minimum & maximum tenor range of a Bajaj Finance FD?

    The minimum tenor of a Bajaj Finance fixed deposit is 1 year with a lock-in period of 3 months. The maximum tenor of a Bajaj Finance FD is 5 years.

  • ✔️Who can invest in Bajaj Finance Fixed Deposit?

    Individuals such as Indian residents, persons of Indian origin and NRIs are eligible to book an FD. Furthermore, non-individuals such as joint stock companies, Hindu Undivided Families (HUFs), partnership firms, registered societies, public and private limited companies and others are also eligible to book a Bajaj FD .

  • ✔️Is Bajaj Finance FD a safe investment option?

    Yes, a Bajaj Finance fixed deposit is a safe investment option since it is accredited by CRISIL and ICRA with a FAAA and MAAA rating that provide assurance of the FD’s credibility and security. Moreover, the interest rates are not affected by market fluctuations which ensures secure returns.

  • ✔️Is Bajaj Finance FD a good investment option?

    Bajaj Finance fixed deposit is a good investment since it offers numerous features and benefits such as high interest rates, flexible tenors, multiple deposit options, trustworthy credit and safety, FD calculator, auto-renewal facility and more.

  • ✔️Can I avail a loan against my Bajaj Finance fixed deposit?

    Yes, the Bajaj Finance fixed deposit offers a facility that allows you to acquire 75% of your deposit amount as a loan against your FD.

  • ✔️Is TDS Deducted on a Bajaj Finance FD?

    Yes, about 10% to 20% in taxes are deducted from your Bajaj FD returns once your returns exceed the limit of ₹40,000 (₹50,000 for senior citizens).

  • ✔️What are the documents required for an FD?

    Depending on the individual or non-individual category under which you would like to book your FD, you can submit identity proofs, address proofs, deed of declaration, memorandum and articles of association and other documents as required.

  • ✔️Can a minor book an FD in their name?

    Yes, a minor can invest in an FD, however, the account has to be owned by an adult. Hence, an adult is required to open an FD account on behalf of a minor.