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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)

Bajaj Finance FD Interest Rates in 2022 for Deposits up to Rs. 5 Crores

Bajaj Finance Fixed Deposit is known to provide one of the highest FD Interest Rates in India. Its FD Interest Rates are as high as 7.50% for individuals below 60 years of age, which is significantly higher than most banks. Moreover, FD interest rate for Senior Citizens is 0.25%, higher than for Non-Senior citizens, which takes the total FD Interest Rate up to 7.75% while offering assured returns on Bajaj Finance Fixed Deposit.

You can invest in a Fixed Deposit starting at Rs. ₹15,000 and go up to Rs. ₹5 Crores. It also allows you to choose a tenor that is convenient for you, ranging from 12 to 60 months.

Features of Bajaj Finance FD

Bajaj Finance FD has a lot to offer for your investment. Apart from the attractive Bajaj Finance FD Interest Rates, here’s a look at some other beneficial features of Bajaj Finance FD:

Bajaj Finance FD Interest Rate

Up to 7.75%

Minimum Tenor

1 Year

Maximum Tenor

5 Years

Deposit Amount

The minimum amount is Rs. ₹15,000

Application Process

An easy paper-free online process

Online Payment Options

UPI and Net Banking

 

 

 

Bajaj Finance FD Interest Rates 2022 for Different Tenors: Non-Senior Citizens and Senior Citizens

Here’s a quick look at Bajaj Finance’s current FD interest rates across different investment tenors, for Senior Citizens as well as Non-Senior Citizens.As mentioned earlier, Bajaj Finance offers an extra 0.25% on the FD interest rate for Senior Citizens.

The table provided below is how the total interest rate appears for different tenors:

Tenor (in years)

FD Interest Rate for Senior Citizens (p.a.)

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

12-23

6.80%

6.55%

24-35

7.50%

7.25%

36-60

7.65%

7.40%

Disclaimer: The aforementioned FD interest rates are valid as of 07th October, 2022 for cumulative deposits between Rs. ₹15,000 to Rs. 5 Cr; and may be subject to change as per company policies.

Bajaj Finance Special FD Interest Rates 2022 for Different Tenors: Non-Senior Citizens and Senior Citizens

Special Fixed Deposits have something extra when compared to a regular Fixed Deposit. The Interest Rate of a Special FD is higher than that of a Regular FD. However, keep in mind that the tenor in a Special FD is specific, unlike the range in a regular FD. The Special FD Interest Rate for Senior Citizens is 0.25% more than that of Non-Senior Citizens.

The table below talks about the Special FD Interest Rates as per given tenors and the Interest you can earn on a Rs. 50 Lakh investment:

Tenor (months)

FD Interest Rate

for Non- Senior Citizens

Total Cumulative Interest for Non- Senior Citizens

Maturity Amount for Non-Senior Citizens

FD Interest Rate for Senior Citizens

Total Cumulative Interest for Senior Citizens

Maturity Amount for Senior Citizens

15

6.70%

Rs. 4,03,150

Rs. 54,03,150

6.95%

Rs. 4,19,024

Rs. 54,19,024

18

6.80%

Rs. 4,95,338

Rs. 54,95,338

7.05%

Rs. 5,14,699

Rs. 55,14,699

22

7.05%

Rs. 6,26,413

Rs. 56,26,413

7.30%

Rs. 6,50,616

Rs. 56,50,616

30

7.35%

Rs. 9,28,389

Rs. 59,28,389

7.60%

Rs. 9,63,062

Rs. 59,63,062

33

7.35%

Rs. 10,45,726

Rs. 60,45,726

7.60%

Rs. 10,84,596

Rs. 60,84,596

44

7.50%

Rs. 15,18,300

Rs. 65,18,300

7.75%

Rs. 15,74,055

Rs. 65,74,055

Disclaimer: The aforementioned FD interest rates are valid as of 07th October, 2022 and may be subject to change as per company policies.

Bajaj Finance FD Interest Rates 2022 for Different Deposit Amount: Non-Senior Citizens and Senior Citizens

The FD Interest Rates vary based on the deposit amount for both Senior and Non-Senior citizens.

The Table below gives you an idea of about the FD Interest Rates for different deposit amounts:

Investment Amount (Rs. )

FD Interest Rate for Non-Senior Citizens (p.a.)

Cumulative Interest for 3 years for Non-Senior Citizens

FD Interest Rate for Senior Citizens (p.a.)

Cumulative Interest for 3 years for Senior Citizens

Rs. 50,000

7.40%

11,941.66

7.65%

12,375.22

Rs. 1 Lakh

7.40%

23,883.32

7.65%

24,750.44

Rs. 5 Lakh

7.40%

1,19,416.61

7.65%

1,23,752.22

Rs. 10 Lakh

7.40%

2,38,833.22

7.65%

2,47,504.45

Rs. 15 Lakh

7.40%

3,58,249.84

7.65%

3,71,256.67

Rs. 20 Lakh

7.40%

4,77,666.45

7.65%

4,95,008.89

Disclaimer: The aforementioned FD interest rates are valid as of 07th October, 2022 and may be subject to change as per company policies.

Cumulative vs. Non-Cumulative FD Interest Rate 2022

The FD Interest Rate for Cumulative and Non-Cumulative Fixed Deposits are different and vary according to the tenor of investment. In a Cumulative Fixed Deposit you get the total interest amount at the end of the maturity period, whereas in a Non-Cumulative Fixed Deposit the total interest is paid to you as per your chosen tenor.

With a Cumulative Fixed Deposit, Non-Seniors enjoy an FD interest rate of 6.2% p.a. to 7.4% p.a. Whereas Seniors enjoy a rate of interest of 6.45% p.a. to 7.65% p.a.

With a Non-Cumulative Fixed Deposit, Non-Seniors can choose to get their total interest paid to them monthly, quarterly, half-yearly or annually.

FD Interest Rates of Top Banks in India

It is wise to compare the FD Interest Rates among different financial institutions before opting for the best fixed deposit interest rate to make an investment.

Here’s a look at the best fixed deposit interest rates of some of the top Indian banks:

Bank

Interest Rate Range for Non-Senior Citizens (p.a)

Interest Rate Range for Senior Citizens (p.a)

Punjab National Bank

3.00% to 6.10%

3.50% to 6.60%

SBI

2.90% to 5.65%

3.40% to 6.45%

HDFC Bank

2.75% to 6.10%

3.25% to 6.60%

Axis Bank

2.50% to 6.05%

2.50% to 6.80%

IDFC Bank

3.50% to 6.90%

4.00% to 7.40%

Canara Bank

2.90% to 6.00%

2.90% to 6.50%

IDBI Bank

2.70% to 5.75%

3.20% to 6.50%

Disclaimer: The aforementioned Bank FD interest rates are valid as of August 2022, and may be subject to change as per bank announcements.

Fixed Deposit Interest Rates of Top NBFCs in India

Here are FD Interest Rates of some of the top NBFC companies:

NBFC

Interest Rate Range for Non-Senior Citizens (p.a)

Interest Rate Range for Senior Citizens (p.a)

Bajaj Finance Ltd

6.36% to 7.50%

6.60% to 7.75%

 

Sundaram Finance

6.10% to 7.30%

6.70% to 7.90%

LIC Housing Finance

5.95% to 6.95%

6.15% to 7.15%

Disclaimer: The aforementioned NBFC FD interest rates are valid as of July 2022, and may be subject to change as per NBFC announcements.

 

Common Queries Asked By FD Investors 

1. Do you pay interest on FDs monthly?

Yes, we do. The choice of having the interest on fixed deposit paid on a periodic basis lies with the investor. You can opt for a monthly pay-out on your Bajaj fixed deposit.

2. Am I liable to pay tax on the interest earned through Fixed Deposits?

Yes, you are, as the interest earned is fully taxable. The interest that you earn when investing in an FD is added to your total income. Based on the tax-slab category, you are liable to pay tax on this total amount. This reflects under the section ‘Income from Other Sources’ in your IT Returns. Additionally, ‘Tax Deducted at Source’ or TDS will be deducted on the interest amount.

3. How do I select the best Fixed Deposit Rates Scheme?

Based on your requirements, you get to choose your FD pay-out. This could be at the end of the maturity period or you could always opt for periodic pay-outs. Should you have regular expenses to take care of, you can opt for periodic pay-outs. However, if you prefer receiving a lumpsum amount, then you should choose to get the interest at the end of the FD tenure. However, do keep in mind that selecting the best Bajaj Finance FD Interest rates in 2021 scheme is important as it affects the interest pay-out.

4. What makes FDs good investment options?

To start off, an FD is best suited for investors who do not like to take much risks and are looking for stable returns. Fixed Deposits offered on Bajaj Markets allow for flexible investment tenures, competitive interest rates and period pay-outs and are the best when it comes to low-risk investment options that aren’t influenced by market fluctuations.

5. Speaking of tenures, what is the maximum and minimum FD tenures offered on Bajaj Markets?

We offer investors the freedom of choosing their own FD tenures. The minimum tenure is 12 months while the maximum is 60 months. It is important to note that your Fixed Deposit rates is determined basis the tenure you choose.

Manage all your queries here

✔️What makes an FD a good investment option?

An FD is best suited for investors who do not like to take many risks and are looking for stable returns. Fixed Deposits offered on Bajaj Markets allow for flexible investment tenures, competitive interest rates, and period pay-outs and are the best when it comes to low-risk investment options that aren’t influenced by market fluctuations.

✔️Does Bajaj Finance pay FD interest rates monthly?

Yes, indeed. The choice of having the interest on a Fixed Deposit paid on a periodic basis lies with the investor. You can opt for a monthly pay-out on your Bajaj Finance Fixed Deposit.

✔️Is there any tax obligation on the interest earned through Fixed Deposits?

Yes, the interest earned on FDs is taxable, if the accrued interest is above the threshold. Typically, 10% standard TDS will be deducted on the interest amount. However, the actual liability depends on the tax-slab category you fall under.

✔️ Which financial institution offers the best interest rate for FD ?

Bajaj Finance is among the top financial institutions that offer the best FD rates in India . It provides FD interest rates as high as 7.75% p.a.

✔️ Does Bajaj Finance FD provide a premature withdrawal facility?

Yes, you can withdraw your FD amount before the completion of its term. However, it will attract a penalty based on the amount and the originally set tenor.

✔️Which are the top NBFCs that offer the best fixed deposit rates in India ?

Bajaj Finance Ltd, Sundaram Finance and LIC Housing Finance offer the highest FD interest rates in India.

✔️What are the maximum and minimum FD tenors offered on Bajaj Markets?

The minimum tenor is 12 months while the maximum tenor is 60 months. It is important to note that your Fixed Deposit Interest Rates are determined based on the tenor you choose.

✔️How to calculate FD interest rate ?

You can calculate FD interest rate with the Fixed Deposit Calculator available on the website.