Business Wire India
HIGHLIGHTS:
New interest rates are applicable on fixed deposits of up to Rs. 5 crore for tenors up to 60 months
Revised interest rates apply to new deposits and renewal of maturing deposits
Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased fixed deposit (FD) rates by 0.30% for tenors between 24 and 60 months.
Investors can now get up to 7.05% interest rate on all deposits up to Rs. 5 crore made on and after December 1, 2021. These interest rates are applicable for new deposits and on the renewal of maturing deposits.
Comparison of old and revised interest rates for cumulative FD for senior citizens:
Tenor (months)
Previous interest rates
New interest rates
(w.e.f. December 1, 2021)
12-23
5.90%
5.90%
24-35
6.35%
6.65%
36-60
6.75%
7.05%
As the table suggests, there’s an increase of 0.30% for FDs between 24 and 60 months. A senior citizen investing Rs. 2,00,000 for 60 months can earn returns up to Rs. 2,83,652 at maturity.
Comparison of old and revised interest rates for cumulative FD for citizens aged below 60 years:
Tenor (months)
Previous interest rates
New interest rates
(w.e.f. December 1, 2021)
12-23
5.65%
5.65%
24-35
6.10%
6.40%
36-60
6.50%
6.80%
For the same tenor and deposit amount, citizens below 60 years get up to Rs. 2,80,188 on their deposit regardless of their investment mode.
Here’s a detailed look at the revised FD interest rates offered by Bajaj Finance Limited.
Rate benefits (w.e.f. December 1, 2021) for senior citizens:
Tenor in months
Minimum deposit (in Rs.)
Cumulative
Non-cumulative
Monthly
Quarterly
Half-yearly
Annual
12 – 23
25,000
5.90
5.75
12 – 23
25,000
5.90
24 – 35
6.65
6.46
24 – 35
6.30
6.65
36 – 60
7.05
6.83
36 – 60
6.69
7.05
Rate benefits (w.e.f. December 1, 2021) for citizens aged below 60 years:
Tenor in months
Minimum deposit (in Rs.)
Cumulative
Non-cumulative
Monthly
Quarterly
Half-yearly
Annual
12 – 23
25,000
5.65
5.51
5.53
5.57
5.65
24 – 35
6.40
6.22
6.25
6.30
6.40
36 – 60
6.80
6.60
6.63
6.69
6.80
Invest online with Bajaj Finance Fixed Deposit
With Bajaj Finance, individuals can choose to start their investment journey anywhere at any time, with an end-to-end paperless online process that enables investors to invest from the comfort of their homes. With this online FD process, it takes a few minutes to book an FD, and investors can reap the benefit of these lucrative FD interest rates easily.
Disclaimer: This is press release from Business Wire India – Lifestyle