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

A fixed deposit investment will earn you a guaranteed interest income on your invested amount. You can choose to receive this payment upon maturity or in periodical payouts. An FD of Rs. 5 crore is one of the best possible options to take care of your regular expenses. In India, the fixed deposit interest rates are usually around 3% to 6% per annum, with senior citizens being offered a higher rate of +0.25% to +0.50%. To know the Rs. 5 crore FD interest rates and amounts across the top Indian bank, you can refer to the table given below:

Bank

Interest Rate on Rs. 5 Lakh (p.a.)

Rs. 5 crore FD Interest

(p.m.)

SBI

2.90% - 5.50%

Rs. 1,20,800 - Rs. 2,29,200

Punjab National Bank

2.90% - 5.25%

Rs. 1,20,800 - Rs. 2,18,800

HDFC Bank

2.50% - 5.60%

Rs. 1,04,200 - Rs. 2,33,300

Axis Bank

2.50% - 5.75%

Rs. 1,04,200 - Rs. 2,39,600

IDFC Bank

2.50% - 6.00%

Rs. 1,04,200 - Rs. 2,50,000

Bank of India

2.85% - 5.05%

Rs. 1,18,700 - Rs. 2,10,400

Disclaimer: The aforementioned Bank FD interest rates are valid as of 01-Mar-2022, and may be subject to change as per bank announcements.

Not only banks, NBFCs (non banking financial companies) also provide the facility to open a fixed deposit with them. Here are the rates of Rs. 5 crore FD interest in NBFCs.

NBFC

Interest Rate on Rs. 5 Lakh (p.a.)

Rs. 5 crore FD Interest

(p.m.)

Bajaj Finance

5.75% - 7.00%

Rs. 2,39,583 - Rs. 3,35,460

Sundaram Finance

5.50% - 5.80%

Rs. 2,29,200 - Rs. 2,41,700

LIC Housing Finance

5.15% - 6.00%

Rs. 2,14,600 - Rs. 2,50,000

Disclaimer: The aforementioned NBFC FD interest rates are valid as of 01-Mar-2022, and may be subject to change as per NBFC announcements.

Senior Citizens (people above the age of 60) are provided an extra rate over their fixed deposits. The actual percentage differs across financial institutions. Here’s a look at the Rs. 5 crore FD interest for senior citizens in banks.

Bank

Interest Rate

for Senior Citizens (p.a.)

Rs. 5 crore FD Interest

(p.m.)

SBI

3.40% - 6.30%

Rs. 1,41,700 - Rs. 2,62,500

Punjab National Bank

3.40% - 5.75%

Rs. 1,41,700 - Rs. 2,39,500

HDFC Bank

3.00% - 6.35%

Rs. 1,25,000 - Rs. 2,64,600

Axis Bank

2.50% - 6.50%

Rs. 1,04,200 - Rs. 2,70,800

IDFC Bank

3.00% - 6.50%

Rs. 1,25,000 - Rs. 2,70,800

Bank of India

3.35% - 5.55%

Rs. 1,39,600 - Rs. 2,31,200

Disclaimer: The aforementioned Bank FD interest rates are valid as of 01-Mar-2022, and may be subject to change as per bank announcements.

For NBFCs, here is the table for senior citizens.

NBFC

Interest Rate

for Senior Citizens (p.a.)

Rs. 5 crore FD Interest

(p.m.)

Bajaj Finance

6.00% - 7.25%

Rs. 2,50,000 - Rs. 3,49,178

Sundaram Finance

6.00% - 6.30%

Rs. 2,50,000 - Rs. 2,62,500

LIC Housing Finance

5.40% - 6.25%

Rs. 2,25,000 - Rs. 2,60,400

Disclaimer: The aforementioned NBFC FD interest rates are valid as of 01-Mar-2022, and may be subject to change as per NBFC announcements.

Monthly Interest for Rs. 5 crore Fixed Deposit in Bajaj Finance

Bajaj Finance offers high Rs. 5 crore FD interest, upto 6.80% for general public and 7.05% for senior citizens. Here’s a table that shows relevant details like total interest amount, maturity amount, etc offered by Bajaj Finance.

For General Citizens:

Tenor

Interest Rates (p.a)

Interest Amount (p.m.)

Total Interest Amount

Maturity Amount

1 year

5.75%

Rs. 2,39,583

Rs. 28,75,000

Rs. 5,28,75,000

2 years

6.40%

Rs. 2,75,200

Rs. 66,04,800

Rs. 5,66,04,800

3 years

7.00%

Rs. 3,12,560

Rs. 1,12,52,150

Rs. 6,12,52,150

4 years

7.00%

Rs. 3,23,746

Rs. 1,55,39,801

Rs. 6,55,39,801

5 years

7.00%

Rs. 3,35,460

Rs. 2,01,27,587

Rs. 7,01,27,587

Disclaimer: The aforementioned FD interest rates are valid as of 10-May-2022, and may be subject to change as per company policies.

For Senior Citizens:

Tenor

Interest Rates (p.a.)

Interest Amount (p.m.)

Total Interest Amount

Maturity Amount

1 year

6.00%

Rs. 2,50,000

Rs. 30,00,000

Rs. 5,30,00,000

2 years

6.65%

Rs. 2,86,296

Rs. 68,71,113

Rs. 5,68,71,113

3 years

7.25%

Rs. 3,24,514

Rs. 1,16,82,491

Rs. 6,16,82,491

4 years

7.25%

Rs. 3,36,552

Rs. 1,61,54,472

Rs. 6,61,54,472

5 years

7.25%

Rs. 3,49,178

Rs. 2,09,50,671

Rs. 7,09,50,671

Disclaimer: The aforementioned FD interest rates are valid as of 10-May-2022, and may be subject to change as per company policies.

Monthly Special Fixed Deposit Interest for Rs. 5 crore Fixed Deposit in Bajaj Finance

Special Fixed Deposits offer better interest rates for a specific tenor as compared to Regular Fixed Deposits.

For example, if you create a Regular FD with a tenor between 12 - 23 months you will receive interest at the rate of 5.75%. However a 18 month Special FD will yield an interest of 6.10%

The table below shows the monthly interest you could earn if you open a Rs. 5 crore Special fixed deposit with Bajaj Finance.

For General Citizens

Tenor (months)

Interest Rates (p.a.)

Interest Amount (p.m.)

Total Interest Amount

Maturity Amount

15

6.00%

Rs. 2,51,848

Rs. 37,77,714

Rs. 5,37,77,714

18

6.10%

Rs. 2,58,004

Rs. 46,44,075

Rs. 5,46,44,075

22

6.25%

Rs. 2,67,175

Rs. 58,77,855

Rs. 5,58,77,855

30

6.50%

Rs. 2,84,178

Rs. 85,25,351

Rs. 5,85,25,351

33

6.75%

Rs. 2,98,140

Rs. 98,38,636

Rs. 5,98,38,636

44

7.20%

Rs. 3,29,966

Rs. 1,45,18,493

Rs. 6,45,18,493

Disclaimer: The aforementioned FD interest rates are valid as of 10-May-2022, and may be subject to change as per company policies.

For Senior Citizens

All senior citizens receive an additional 0.25% on interest rates.

Tenor (months)

Interest Rates (p.a.)

Interest Amount (p.m.)

Total Interest Amount

Maturity Amount

15

6.3%

Rs. 2,62,420

Rs. 39,36,303

Rs. 5,39,36,303

18

6.4%

Rs. 2,68,740

Rs. 48,37,323

Rs. 5,48,37,323

22

6.55%

Rs. 2,78,142

Rs. 61,19,133

Rs. 5,61,19,133

30

6.95%

Rs. 2,95,647

Rs. 88,69,414

Rs. 5,88,69,414

33

7.2%

Rs. 3,09,843

Rs. 1,02,24,804

Rs. 6,02,24,804

44

7.6%

Rs. 3,42,543

Rs. 1,50,71,908

Rs. 6,50,71,908

Disclaimer: The aforementioned FD interest rates are valid as of 10-May-2022, and may be subject to change as per company policies.

How to Calculate FD Interest on Rs. 5 crore FD

If you want to calculate the amount you can earn on different Rs. 5 crore FD interest rates, you should use the free Fixed Deposit Calculator, available on Bajaj MARKETS. You can instantly know the interest earned along with the total maturity amount by following the steps given below:

  • Select the customer type. You will receive the options of senior citizens and non-senior citizens.

  • Select the FD type. You can choose either a cumulative or a non-cumulative FD.

  • Now enter your deposit amount.

  • You can now select your desired investment tenor, ranging from 12 months to 60 months.

  • The online calculator will now display the interest earned and the total amount on maturity.

Alternatively, you can calculate the fixed interest rate by using the mathematical formula:

M= P + P {(1 + i/100) t – 1}, where

  • P is the principal amount

  • i is the rate of interest per period

  • t is the tenor

Check Monthly Interest Rate on your Fixed Deposits

Why Should You Invest in Bajaj Finance Fixed Deposits?

Investing in Bajaj Finance Fixed Deposits can provide you with several advantages. Here’s a look:

  • Convenient online process: You can start your investment with an easy online application process. For your convenience, there is the facility of doorstep document collection as well.

  • High interest rates: You can receive high interest rates of up to 7.00%.

  • Flexibility in choosing the type of FD: You can choose from two fixed deposits types, namely cumulative and non-cumulative. In the cumulative FD, your interest on Rs. 5 crores fixed deposit will be received on maturity. However, in the non-cumulative type, you can choose to receive interest payouts on an annual, half annual, quarterly or monthly basis.

  • Flexibility in selecting tenors: Depending upon your financial goals, you can choose flexible tenors, between 12 months and 60 months.

  • Credible ratings: Bajaj Finance FD comes with an FAAA rating by CRISIL and MAAA rating by ICRA, providing the highest safety for your investment.

  • Senior citizen benefits: Senior citizens receive an additional 0.25% on their FDs with Bajaj Finance.

Eligibility Criteria for Rs. 5 crore Fixed Deposit

Here’s a look at the eligibility criteria for opening a Rs. 5 crore fixed deposit:

  • Age: Primary applicant needs to be 18 years and above.

  • Nationality: Only resident Indian citizens can open this fixed deposit.

  • Type of individual customers: Both salaried and self-employed individuals are eligible to open a fixed deposit. Among self-employed individuals, both self-employed professionals and self-employed non-professionals can open a fixed deposit.

  • Type of non-individual customers: The following categories of non-individuals or entities can open a Rs. 5 crore FD:

    • Company

    • Partnership Firm

    • Sole proprietorship

    • Hindu Undivided Family (HUF)

    • Clubs

    • Associations

    • Societies

    • Family trusts

Note: The above mentioned eligibility criteria is based on general information and can be changed by the company based on the scheme offered.

Documents Required for Rs. 5 crore Fixed Deposit

The documentation process depends on your customer type. Here’s a table listing the documents required to open a Rs. 5 crore fixed deposit:

Type of proof

List of accepted documents

Identity

Driving license

Aadhaar card

Voter’s ID

PAN card

Government-issued ID card.

Address

Electricity bill

Telephone bill

Passport

Registered rent agreement

Identity for non-individuals

Registration/Incorporation certificate

Memorandum or Articles of Association

Board resolution for opening FD

Partnership deed

HUF deed

Recent bank account statements

How to Apply Online for Bajaj Finance Fixed Deposit?

A key advantage of Bajaj Finance FD is you need not contact any intermediaries/agents or make a physical branch visit. You can complete the simple application process from the comfort of your home or office in a few easy steps. Here’s a step-by-step guide for you:

 

Step 1: Provide your personal details in the online application form.

 

Step 2: Upload the required documents along with your recent passport-sized photographs.

 

Step 3: Select the type of FD, cumulative or non-cumulative.

 

Step 4: Enter your preferred tenor and the frequency of interest payouts for non-cumulative FDs.

 

Step 5: Make an online deposit using UPI or net banking.

 

Step 6: You will shortly receive an acknowledgement through SMS and email.

 

Step 7: You can now monitor your FD investment online.

FAQs

  • ✔️Is premature withdrawal allowed on my Rs. 5 crore FD?

     Yes, you can withdraw the entire amount anytime you wish. However, a certain penalty is levied on the interest earned, which varies for different financial institutions.

  • ✔️How can I extend my Rs. 5 crore FD?

     Renewal is a very simple process that can be easily done online by logging into your FD account.

  • ✔️What is the tenor range for FD in Bajaj Finance?

    Bajaj Finance gives you the flexibility to choose a tenor ranging between 12 - 60 months, as per your preference.

  • ✔️What is the difference between cumulative and non-cumulative FD?

    In a cumulative FD interest is accumulated and paid out once all together along with the principal on maturity. In a non-cumulative FD you can opt for monthly or quarterly pay out of the interest.

     

  • ✔️What is the senior citizen benefit on Rs. 5 crore fixed deposit?

    Bajaj Finance offers 0.25% extra interest to senior citizens, which makes the interest as high as 7.25% on an FD of 3 years tenor or more.

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