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Bajaj Finserv offers best interest rate on fixed deposits

ANI  |  Mumbai (Maharashtra) [India] 

through its lending and investment arm Bajaj Ltd is offering best rate of on to senior citizen of 8.20 percent for a tenure of 60 months.

Company is also offering an rate of 8.10 percent to its existing customer on cumulative FD for the same tenure.

has received 'FAAA/Stable' rating by CRISIL and 'MAAA (Stable)' rating by ICRA indicate the highest degree of safety with regard to timely payment of and principal on the instrument.

The book size of the company stands at Rs. 6,458 crore as on December 31, 2017.

For a fixed deposit ranging from one to five years, senior citizens will get an additional interest of 0.35 percent and the existing customers of Bajaj Ltd will get additional 0.25 percent.

has further announced an exclusive renewal benefit for senior citizens and existing customer wherein investor will get additional 0.25 percent on the renewal of FDs.

An existing investor renewing the FD will earn an interest of 8.35 percent and senior citizen will earn an interest of 8.45 percent on the renewal of cumulative FD.

These interest rates are applicable for tenure of 60 months.

Senior citizen planning to invest in safe financial instrument can earn higher return for an amount as low as Rs. 25,000 through Bajaj Finserv fixed deposit.

Features and benefits of fixed deposit

Stable returns

A fixed deposit guarantees a fixed, pre-decided rate of interest on your investment, which is credited to your account at the end of the tenure.

Higher interest rates for senior citizens

Senior citizens can benefit greatly from investing their life savings in a fixed deposit, as they are eligible for an additional rate of interest.

No approvals

Unlike high-risk investments that have to go through one or multiple rounds of approvals, you don't need anybody to sign off on a fixed deposit and you are free to make one when you like.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 07 2018. 08:15 IST