Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, has increased its fixed deposit (FD) interest rates by up to 25 basis points, for a tenure between 12 months to 23 months, with effect from November 22, 2022. For a tenure of 44 months, depositors above 60 years of age can avail the FD interest rate of up to 7.95 percent p.a. while non-senior citizens can earn up to 7.70 percent p.a.
The revised rates on Bajaj Finance FDs will be applicable on fresh deposits and renewals of maturing deposits of up to Rs 5 crore.
Bajaj Finance has also launched a new deposit tenure of 39 months w.e.f. November 22, 2022
| Tenure (months) | Cumulative | Non-Cumulative |
| Monthly | Quarterly | Half Yearly | Annual |
| 12 - 23 | 6.80 | 6.60 | 6.63 | 6.69 | 6.80 |
| 24 - 35 | 7.25 | 7.02 | 7.06 | 7.12 | 7.25 |
| 36 - 60 | 7.50 | 7.25 | 7.30 | 7.36 | 7.50 |
Bajaj Finance Special FD Rates for Non-Senior Citizens:
| Period | Cumulative | | Non-Cumulative |
| At Maturity(% p.a.) | Monthly(% p.a.) | Quarterly(% p.a.) | Half Yearly(% p.a.) | Annual(% p.a.) |
| 15 months | 6.95 | 6.74 | 6.78 | 6.83 | 6.95 |
| 18 months | 7.00 | 6.79 | 6.82 | 6.88 | 7.00 |
| 22 months | 7.10 | 6.88 | 6.92 | 6.98 | 7.10 |
| 30 months | 7.30 | 7.07 | 7.11 | 7.17 | 7.30 |
| 33 months | 7.30 | 7.07 | 7.11 | 7.17 | 7.30 |
| 39 months | 7.60 | 7.35 | 7.39 | 7.46 | 7.60 |
| 44 months | 7.70 | 7.44 | 7.49 | 7.56 | 7.70 |
Under the revised fixed deposit scheme, depositors between 24 months to 35 months can earn a cumulative return as high as 7.25 per cent. Senior citizens can reap a benefit of up to 7.75 percent for 36 months to 60 months.
For the new tenure of 39 months, depositors below 60 years of age can enjoy avail the FD interest rate of 7.60 percent p.a. while senior citizens can earn up to 7.85 percent p.a.
The rate change also impacts the senior citizens, who can now earn up to 7.85 percent p.a. for a tenure of 39 months and 7.95 percent p.a. for a tenure of 44 months.
Bajaj Finance FD Rates for Senior Citizens, w.e.f. November 22, 2022
| Tenure (months) | Cumulative | Non-Cumulative |
| Monthly | Quarterly | Half Yearly | Annual |
| 12 - 23 | 7.05 | 6.83 | 6.87 | 6.93 | 7.05 |
| 24 - 35 | 7.50 | 7.25 | 7.30 | 7.36 | 7.50 |
| 36 - 60 | 7.75 | 7.49 | 7.53 | 7.61 | 7.75 |
Bajaj Finance Special FD Rates for Senior Citizens:
| Period | Cumulative | | Non-Cumulative |
| At Maturity | Monthly | Quarterly | Half Yearly | Annual |
| (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) |
| 15 months | 7.20 | 6.97 | 7.01 | 7.08 | 7.20 |
| 18 months | 7.25 | 7.02 | 7.06 | 7.12 | 7.25 |
| 22 months | 7.35 | 7.11 | 7.16 | 7.22 | 7.35 |
| 30 months | 7.55 | 7.30 | 7.35 | 7.41 | 7.55 |
| 33 months | 7.55 | 7.30 | 7.35 | 7.41 | 7.55 |
| 39 months | 7.85 | 7.58 | 7.63 | 7.70 | 7.85 |
| 44 months | 7.95 | 7.67 | 7.72 | 7.80 | 7.95 |
A comparison of old and new interest rates for cumulative FD for Non-Senior Citizens, is given below:
| Tenure (months) | Previous Interest Rates (w.e.f. November 08, 2022) | New Interest Rates (w.e.f. November 22, 2022) |
| 12 - 23 | 6.55 | 6.80 |
| 15 | 6.70 | 6.95 |
| 18 | 6.80 | 7.00 |
| 22 | 7.05 | 7.10 |
| 24 - 35 | 7.25 | 7.25 |
| 30 | 7.35 | 7.30 |
| 33 | 7.35 | 7.30 |
| 36 - 60 | 7.50 | 7.50 |
| 39 | New tenure | 7.60 |
| 44 | 7.60 | 7.70 |
Bajaj Finance offers the comfort of investing from home, with an end-to-end digital and paperless process. With the online FD process, investors can book an FD in few minutes and can reap the benefit of the lucrative interest rates, Bajaj Finance said.
Bajaj Finance Fixed Deposit has the highest stability ratings with CRISIL AAA/STABLE and AAA(Stable) rating offering one of the safest investment options for investors. The company has a base of 4.25 lakh depositors with over 1 million FDs, it said.
