Earn interest up to 8.10% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

A fixed deposit is an investment tool that lets you earn a guaranteed interest income on your invested amount. If you want to invest in a low-risk environment and earn attractive interest income, a fixed deposit is the ideal investment option for you. After all, irrespective of any market fluctuations, you will still earn interest income at a predetermined rate of interest.

Bajaj Finance FD on Bajaj Markets offers one of the best rates of interest on FD that are as high as up to 7.75%. However, there are set eligibility criteria and documents required to open an FD. Here is a look at the eligibility criteria and the documents needed to keep handy to open an FD with Bajaj Finance.

Eligibility Criteria to Open a Fixed Deposit with Bajaj Finance

Starting your fixed deposit investment is an easy and hassle-free process. Below mentioned is the list of fixed deposit eligibility criteria. You can start your Bajaj Finance FD on Bajaj Markets right away and enjoy the benefits of an FD  as long as you meet eligibility criteria.

  • The minimum amount of investment in Bajaj Finance FD is ₹15,000

  • You must be an Indian citizen living in India

  • Hindu Undivided Family (HUF)

  • Sole Proprietorships

  • Partnership Firms

  • Companies

  • Clubs

  • Associations

  • Family Trusts

  • Societies

Documents Required to Open a Fixed Deposit Account

Those customers who already have a Bajaj Finance FD account do not have to re-submit their documents to fulfil the eligibility criteria of an FD. The documents submitted previously while opening the account will suffice. For the new customers, certain documents are required to start the FD account. Here is a list of documents required to open a fixed deposit account.

Identity Proof

  1. Passport

  2. PAN card

  3. Voter ID card

  4. Driving licence

  5. Government ID card

  6. Photo ration card

  7. Senior citizen ID card

Address Proof

  1. Passport

  2. Telephone bill

  3. Electricity bill

  4. Bank Statement with cheque

  5. Certificate/ ID card issued by Post office

  6. List of FD documents for various types of customers

Important Things to Note While Submitting FD Documents

As an investor, there are certain things you should keep in mind when you submit the FD documents required. Given below is a list of some important things to remember while submitting the documents for starting a fixed deposit.

  • Always produce the original documents required for verification purposes along with a photocopy of every document

  • While filling out the application form offline, make sure you stick to all caps, i.e. in capital letters using black ink

  • In case of any overwriting, make sure to countersign

  • Make use of the nomination facility available

  • It is also compulsory to provide your permanent address and contact number

Eligibility Criteria

Opening a Bajaj Finserv Fixed Deposit on Bajaj Markets is easy. Mentioned below is the eligibility criteria:

  • Minimum Investment Amount – Rs. 15, 000
  • You must be an Indian citizen residing in India
  • Hindu Undivided Family (HUF)
  • Sole Proprietorships
  • Partnership Firms
  • Companies
  • Clubs
  • Associations
  • Family Trusts
  • Societies

Steps to Open a Fixed Deposit Online

Manage all your queries here

✔️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 0.35% p.a. for deposit size up to ₹5 Crore • Bajaj Group Employees – Additional rate of 0.25% 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. Finserv 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.