This NBFC has hiked FD interest rates by up to 60 bps; earn up to 8.85% on this fixed deposit tenure The revised rates will take effect on April 3, 2024, according to an NBFC press release on April 8, 2024
Bajaj Finance, part of Bajaj Finserv, has announced hikes in fixed deposits (FDs) interest rates across most tenures. The new rates will be effective from April 3, 2024, according to the NBFCs press release issued on April 8 2024.FD rates for general citizens
For non-senior citizens, the NBFC has hiked by 45 basis points for the 25–35 month tenure, 40 basis points for the 18 and 22 month tenure, and 35 basis points for the 30 and 33 month tenure.
Fixed Deposit Annualized rate of interest for non-senior citizensValid for deposits up to Rs.5 crore (w.e.f 03 Apr 2024)Table 1Bajaj Finance Digital FDCumulative Non-Cumulative(available only on Bajaj Finserv AppAt MaturityMonthlyQuarterlyHalf YearlyAnnualand web)(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)42 months8.68.288.348.428.6Table 2Special periodCumulative Non-CumulativeAt MaturityMonthlyQuarterlyHalf YearlyAnnual(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)18 months7.87.537.587.657.822 months7.97.637.687.757.933 months8.17.817.877.948.144 months8.257.958.018.098.25Table 3Regular periodCumulative Non-CumulativeAt MaturityMonthlyQuarterlyHalf YearlyAnnual(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)12 - 14 months7.47.167.27.277.415 - 23 months7.57.257.37.367.524 - 35 months7.87.537.587.657.836 - 60 months8.17.817.877.948.1
Senior citizens
The company has increased FD rates for senior citizens by up to 60 basis points in the 25-to-35-month tenure and 40 basis points in the 18-to-24-month tenure. Senior citizens can continue to avail FD rates of up to 8.85% and non-senior citizens can take benefit of rates of up to 8.60%, by booking digitally in the 42 months tenure.
Fixed Deposit Annualized rate of interest for senior citizensValid for deposits up to Rs.5 crore (w.e.f 03 Apr 2024)Table 4Bajaj Finance Digital FDCumulative Non-Cumulative(available only on Bajaj Finserv AppAt MaturityMonthlyQuarterlyHalf YearlyAnnualand web)(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)42 months8.858.518.578.668.85Table 5Special periodCumulative Non-CumulativeAt MaturityMonthlyQuarterlyHalf YearlyAnnual(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)18 months8.057.777.827.898.0522 months8.157.867.917.998.1533 months8.358.058.18.188.3544 months8.58.198.248.338.5Table 6Regular periodCumulative Non-CumulativeAt MaturityMonthlyQuarterlyHalf YearlyAnnual(% p.a.)(% p.a.)(% p.a.)(% p.a.)(% p.a.)12 - 14 months7.657.397.447.517.6515 - 23 months7.757.497.537.617.7524 - 35 months8.27.917.968.048.236 - 60 months8.358.058.18.188.35
This story originally appeared on: India Times - Author:Faqs of Insurances
