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

Fixed deposit investment in banks is considered one of the safest and most secure investment options. An investor deposits a lump-sum amount of money with the bank for a specific period at a pre-discussed interest rate. The bank compounds the interest on the amount. The investor receives its amount along with interest, once the bank FD gets matured.

 

Different banks in India offer different interest rates. Read below to find out about banks with higher FD rates.

Financial Institution Offering Highest FD Interest Rates in India

Fixed deposit investment is also offered by Non-Banking Financial Companies and other small finance companies. Bajaj Finance is one of the top NBFCs in India offering the highest FD interest rates to its customers. The company offers a maximum of 7.05% interest to its customer with a tenure selection flexibility between 12 months and 5 years and a minimum investment of Rs. 25,000.

Best FD Rates in India 2022

Check out the tables below to find out banks and NBFCs with higher FD rates at varying tenures.

  • FD Interest Rate of Top Banks

Banks Offering FD

Interest  Rate

Senior Citizen Interest Rate

Tenure

SBI

2.90% - 5.50%

3.40%-6.30%

7 days-10 years

HDFC Bank

2.50% - 5.60%

3.00% - 6.35%

33-99 months

ICICI Bank

2.50% - 5.50%

    3% - 6.30%

7 days -10 years

AXIS Bank

2.50% - 5.75%

2.50% - 6.50%

7 days-10 years

PNB Bank

2.90%-5.25%

3.40%-5.75%

1-10 years

Canara Bank

2.90% - 5.50%

2.90% - 6.00%

15 days - 10 years

Bank Of India

2.85% - 5.05%

3.35% - 5.55%

7 days - 10 years

Union Bank

3.00% - 5.50%

3.50% - 6.10%

7 days - 10 years

IOB Bank

3.40% - 5.20%

3.90% - 5.45%

7 days - 3 years & above

Kotak Bank

2.50% - 5.61%

3.00% - 6.14%

7 days - 10 years

Bandhan Bank 

3.00% - 5.60%

3.75% - 6.35%

7 days - 10 years

BOB Bank

2.80% - 5.10%

3.30% - 6.35%

7 days - 10 years

IDBI Bank

2.70% - 5.50%

3.20% - 6.00%

7 days - 10 years

Federal Bank

2.50% - 5.60%

3.00% - 6.25%

7 days - 10 years

IDFC Bank

2.50% - 6.00%

3.00% - 6.50%

7 days - 10 years

UCO Bank

2.55% - 5.30%

4.08% - 6.60%

7 days-10 years

Bank of Maharashtra 

2.75% - 4.90%

3.25% - 5.40%

7 days-10 years

DBS Bank

2.50% - 5.75%

2.50% - 5.75%

7 days-10 years

HSBC Bank

2.25% - 4.00%

2.75% - 4.50%

7 days-5 years

DEUTSCHE Bank

4.25% - 6.25%

4.25% - 6.25%

7 days-5 years

SBM Bank

2.50% - 6.00%

2.55% - 6.05%

7 days-10 years

Central Bank of India

2.75% - 5.15%

2.75% - 5.15%

7 days-10 years

RBL Bank

3.25% - 6.30%

3.75% - 6.80%

7 days-10 years

 Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the banks. 

  • FD Interest Rates of NBFCs 

NBFCs Offering FD

Interest  Rate

Senior Citizen Interest Rate

Tenure

Bajaj Finance 

5.51% - 6.80%

5.75% - 7.05%

1 - 5 years

AU Small Finance Bank

3.75% - 6.92%

4.25% - 7.45%

7 days - 10 years

LIC Housing Finance 

5.15% - 6.00%

5.40% - 6.25%

1 year - 5 years

PNB Housing Finance 

2.90% -5.25

3.40% - 5.75% 

1 year - 10 years

ICICI Home Finance 

5.25% - 6.70%

5.50% - 6.95%

1 year - 10 years

Equitas Small Finance Bank 

3.50% - 6.75%

4.00% - 6.92%

7 days - 10 years


Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the NBFCs.

Highest FD Rates for 12-23 (1 Year to 2 Years) Tenor

Check out the tables below to find the best FD interest rates in India by banks and NBFCs for 12 -23 month tenure.

  • FD Interest Rate of Top Banks 

Banks Offering FD

Interest rates for Non-Senior Citizens (p.a.)

Interest rates For Senior Citizens (p.a.) 

ICICI Bank

5.00%

5.50%

SBI

5.10%

5.60%

HDFC Bank

5.00%

5.20%

Bank of Baroda

5.20%

5.70%

Punjab National Bank

5.09%

5.50%

Canara Bank

5.15%

5.65%

IDFC Bank

5.75%

6.25%

Bank of India

5.00%

5.50%

Punjab and Sind Bank

5.15%

5.65%

Yes Bank

5.88%

6.40%

IndusInd Bank

6.00%

6.50%

UCO Bank

5.10%

5.60%

Indian Overseas Bank

5.15%

5.65%

DBS Bank

5.00%

5.00%

Bandhan Bank

5.25%

6.00%

HSBC Bank

3.25%

3.75%

Deutsche Bank

5.00%

5.00%

 Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the banks. 

  • FD Interest Rates of NBFCs 

NBFCs Offering FD

Interest rates for Non-Senior Citizens (p.a.)

Interest rates For Senior Citizens (p.a.) 

Bajaj Finance 

5.65%

5.90% 

LIC Housing Finance

5.25% 

5.25% 

PNB Housing Finance

5.75%

6.00%

Jana Small Finance Bank

5.50%

6.30%

Utkarsh Small Finance Bank

6.50%

7.00%

Equitas Small Finance Bank

6.10%

6.24%

 Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the NBFCs.

Highest FD Rates for 24-35 (2 Year to 3 Years) Tenor 

The below-mentioned table has a list of the best FD interest rates offered  for 24 - 35 months 

  • FD Interest Rate of Top Banks 

Banks Offering FD

Interest Rates for Non -Senior Citizens (p.a.)

Interest Rates for Senior Citizens (p.a.)

IDFC First Bank

6.00%

6.50%

SBI

5.20%

5.70%

Punjab and Sind Bank

5.15%

5.65%

 Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the bank.

  • FD Interest Rate of Top NBFCs

NBFCs Offering FD

Interest rates for Non- Senior Citizens (p.a.)

Interest rates For Senior Citizens (p.a.) 

Bajaj Finance 

6.40%

6.65%

LIC Housing Finance

5.65% 

5.65% 

PNB Housing Finance

6.15%

6.40%

Equitas Small Finance Bank

6.50%

6.66%

Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the NBFCs.

Highest FD rates for 36-60 (3 Year to 5 Years) Tenor 

Check out the FD interest rates offered for a tenure of 36-60 months - 

  • FD Interest Rate of Top Banks

Banks Offering FD

Interest Rates for Non-Senior Citizens (p.a.)

Interest Rates for Senior Citizens (p.a.)

Union Bank of India

5.40%

5.90%

IDFC FIRST Bank

6.25%

6.75%

Canara Bank

5.56%

6.08%

SBI

5.45%

5.95%

Axis Bank

5.40%

6.05%

Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the bank.

  • FD Interest Rate of Top NBFCs

NBFCs Offering FD

Interest rates for Non-Senior Citizens (p.a.)

Interest rates For Senior Citizens (p.a.) 

Bajaj Finance 

6.80%

7.05%

LIC Housing Finance

6.00% 

6.00% 

PNB Housing Finance

6.60%

6.85%

Equitas Small Finance Bank

6.00%

6.14%

Note - The interest rates mentioned above are valid as of 1st March 2022 and might differ with the change in the norms and policies of the NBFCs.

Bajaj Finance Interest Rates

Bajaj Finance offers one of  the highest FD interest rates in the market. The company has been awarded credibility ratings from CRISIL and ICRA, making it one of the most trusted and secured platforms for fund investment. The customers can make an FD investment with Bajaj Finance online via the Bajaj Markets app to experience a hassle-free application process.

 

Check the table below to find more details about Bajaj Finance FD interest rates -

Interest Rates

  • Non -Senior Citizens - 5.65% -6.80%

  • For Senior Citizens - 5.90%- 7.05%

Minimum Amount 

Rs. 25,000

Maximum Amount 

Rs. 5 Crore

Tenure 

Flexible tenure between 12 months - 5 years

Bajaj Finance FD on Bajaj Markets

To invest in  Bajaj Finance FD, you can visit the Bajaj Markets app or the official website and enjoy a smooth and seamless application procedure. Once the application is duly filled and submitted, the company executive will collect documents for verification at your doorstep.

 

Latest Bank FD News

RBI Hikes Repo Rate By 50 bps: Loan Interest Rates to Rise

The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has announced its decision to increase the repo rate by 50 basis points. It now stands at 5.90% after its fourth consecutive increase during the current cycle, the highest it’s been since April 2019. The governor also hinted at further rate hikes to make money costlier through ‘calibrated withdrawal’.

 

This move hopes to tackle consistent above-target retail inflation rate and improve foreign capital inflow. It is also expected to tame declining value of the Indian Rupee against the US Dollar.

- Sept 30, 2022

FAQs

  • ✔️What is the interest rate on Bank FD for senior citizens?

    Presently, most of the banks offer a rate of interest ranging from 3.50% – 9.25% for senior citizen FDs. Bajaj Finance Fixed Deposit also provides a high interest rate of 7.45% for senior citizens.

  • ✔️Which bank FD is best?

    A lot of banks in India offer an attractive rate of interest of Fixed Deposit schemes ranging from 5-7%. Bajaj Finance Fixed Deposit also provides a high rate of interest of 7.45%. 

    Here are some of the best Fixed Deposit schemes:

    Company Name

    Tenure

    Interest Rate

    Housing and Urban Development Corp Ltd

    1 year

    9%

    Housing and Urban Development Corp Ltd

    2-3 years

    9.15%

    Kerala Transport Development Finance Corporation Ltd

    1 year

    8.25%

    Mahindra Finance

    3 years

    7.80%

    Shriram City Union Finance

    1 year

    7.50%

  • ✔️What is the minimum amount required to start a bank FD?

    You can start an FD at Finserv MARKETS with as low as ₹15,000.

  • ✔️Is the interest earned on a bank FDs taxed?

    Yes, interest earned on Fixed Deposits is classified as 'income from other sources' and is subject to income tax. Hence, the income is added to the total income of the taxpayer, and the tax liability is as per the income tax slab.

  • ✔️Is there a penalty if the bank FD is prematurely withdrawn?

    Yes, in case of premature withdrawal, the investor has to pay a certain amount as a penalty to the bank. The amount charged usually ranges from 0.50 % to 1.00 % of the interest.