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

The last few years have seen a decline in the interest rates offered by banks on fixed deposits. If these falling bank FD rates are stopping you from investing in a bank fixed deposit, it is time you start considering a company fixed deposit. There are various NBFCs that offer a fixed deposit investment with higher FD interest rates. One such company FD that you might want to consider is Bajaj Finance FD.

 

Bajaj Finance FD offers one of the best FD interest rates that are higher than most bank FD rates. Let’s have a look at 6 reasons why Bajaj Finance fixed deposit is the solution to the falling rates of a bank fixed deposit.

Why Bajaj Finance FD is the Solution to Falling Bank FD Rates

1. Higher Returns

Bajaj Finance FD will give you a higher interest income as compared to several bank FDs. The FD interest rates offered by Bajaj Finance are as high as 7.85% that can go up to 8.10% with an additional interest rate for senior citizens. This higher interest rate than bank FD rates will help you in multiplying your savings faster.

2. Flexible Tenor

You can invest your money for a flexible tenor ranging between 12 months to 60 months. You can opt for the best-suited tenor as per your financial needs. You also get the option to reinvest your fixed deposit amount after it matures at a higher interest rate.

3. Choice of Periodical Payouts

Bajaj Finance fixed deposit gives you the choice to select between a cumulative and non-cumulative fixed deposit. In a non-cumulative FD, you have the choice to select the periodical payout of interest income either on a monthly, quarterly, half-yearly or yearly basis. If you are retired and need a steady source of income, you can opt for such a periodical payout of interest to meet your expenses. In a cumulative FD, your interest is compounded and you earn a higher interest income that you receive on maturity.

4. Tax Benefits

The interest income earned is taxable under the head ‘Income from Other Sources’. Any income that does not exceed the set limit of ₹40,000 in a financial year is exempt from income tax (₹50,000 for senior citizens). If you invest in a tax-saving fixed deposit, you also get a tax exemption of up to ₹1.5 lakh in a financial year. It usually has a lock-in period of 5 years.

5. High Stability and Credibility

Bajaj Finance FD is one of the safest investment options as it has high credibility ratings. It comes with ICRA’s MAAA (Stable) rating and CRISIL’s FAAA/Stable rating. This means that your invested amount is safe with the investor and you won’t face any problem while receiving the interest payout.

6. Loan Against FD Facility

With Bajaj Finance FD, you also get the facility to take a loan against your fixed deposit investment. You do not have to worry about breaking your FD and losing out on the interest income. You can tend to any emergency financial expense by availing this facility.

7. Minimum Deposit Amount

Even if the bank FD rates are falling, you can easily grow your money with Bajaj Finance FD without worrying about a large amount. With a minimum investment amount of ₹15,000, you can easily start growing your money in a safe way.

8. Additional Interest Rates

In Bajaj Finance fixed deposit, senior citizens get an additional FD interest rate of 0.25% over non-senior citizens. 

Bajaj Finance FD Interest Rates

As mentioned, Bajaj Finance fixed deposit offers lucrative FD interest rates. Being a company fixed deposit, the interest rates are higher than bank FDs. Here is a look at the FD interest rates offered by Bajaj Finance FD:

Annual Senior Citizen FD Interest Rate Valid for Deposits From ₹15,0000 to 

₹5 Crores

(w. e. f. 20th January 2023)

Tenor in Months

12-23

24

25-35

36-60

Cumulative

7.40%

7.75%

7.55%

7.85%

Monthly

7.16%

7.49%

7.30%

7.58%

Quarterly

7.20%

7.53%

7.35%

7.63%

Half-Yearly

7.27%

7.61%

7.41%

7.70%

Annual

7.40%

7.75%

7.55%

7.85%

FAQs

  • ✔️Is Bajaj Finance safe for FD?

     Yes, Bajaj Finance FD is one of the safest investment options as it has high credibility and stability ratings. It is also known for 0 unclaimed deposits.

  • ✔️Is Bajaj FD tax-free?

     No, Bajaj Finance FD is not tax-free and the interest income earned is taxable under the applicable tax rates.

  • ✔️Is Post Office FD safe?

     Yes, Post Office fixed deposit is considered a safe investment option as it comes with the sovereign guarantee of Indian Postal Services.