Bajaj Finance increases FD interest rates to 8.45 percent

Bajaj Finance Ltd., the lending and investment arm of Bajaj Finserv, has revised its fixed deposit interest rate up to 8.35 percent for a period of 36 - 60 months.

The company is offering this interest rate to its existing loans and fixed deposit customers under the cumulative option and on an annualised basis under non-cumulative option. For the same option and tenure, new fixed deposit customers would get 8.10 percent instead of 7.85 percent earlier.

Senior citizens can earn an interest rate of 8.45 percent for a tenor ranging between 36 to 60 months. Bajaj Finance Fixed Deposit has been accorded 'FAAA/Stable' rating by CRISIL and 'MAAA (Stable)' rating by ICRA which indicate highest degree of safety with regard to timely payment of interest and principal on the instrument.

For the newly launched special tenor scheme of 15 months and minimum FD size of INR 100,000, the fixed deposit rate would be up to 7.70 percent for new customer and 8.05 percent for senior citizens.

Features and benefits of fixed deposit:

Higher interest rates for senior citizens

Senior citizens investing in the Bajaj Finance Fixed deposit earns an additional 1 percent rate of interest

Minimum deposit

Investors can start with a minimum deposit of Rs. 25,000 and earn higher interest

Renewal benefits

Fixed Deposits with Bajaj Finance Ltd., will help you earn the highest rate of returns of 8.10% with additional 0.10 percent renewal benefit

Flexible Tenors

Flexible tenors between 12 and 60 months, to suit the financial needs. The option to close your existing FD and start a new account for a different tenor, in case one changes his mind.