Fixed Deposit

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Fixed Deposit

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City*

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Desired Fixed Deposit Amount*

The minimum deposit amount for your city is Rs. Tool Down
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Tenure Option

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Cumulative
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Non Cumulative
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Features and Benefits

Our Fixed Deposit comes with FAAA Rating by CRISIL and MAAA Rating by ICRA, offering the highest security for your investment. What’s more is there are 6 flexible tenors to choose from, to suit individual needs.

Here are some of the other benefits of our Fixed Deposits:

  • An additional 0.25% rate of interest for senior citizens
  • Presence across more than 100 locations in India
  • Online access to your Fixed Deposit account through our Customer Portal – Experia
  • Auto credit of maturity amount
  • An EMI Card is offered against deposits of > Rs. 50,000, at the time of deposit origination. This
    card comes with a pre-approved loan amount to buy your favourite consumer durable and
    lifestyle products on EMIs with no additional documentation
  • No Tax deduction at source on interest payment up to Rs. 5,000 p.a.

Interest rates basis tenor

  Cumulative Non Cumulative
Tenor in
months
Annual Effective
Yield
Monthly Quarterly Half Yearly Annual
12 9.25% 9.25% 8.90% 8.95% 9.05% 9.25%
15 9.75% 9.87% 9.30% 9.40% 9.40% 9.75%
24 9.40% 9.84% 9.05% 9.05% 9.15% 9.40%
36 9.65% 10.61% 9.20% 9.30% 9.30% 9.65%
48 9.25% 10.61% 8.90% 8.95% 9.05% 9.25%
60 9.25% 11.13% 8.90% 8.95% 9.05% 9.25%

Senior citizens (subject to provision of age proof) and existing Bajaj Finance customers will enjoy an additional 0.25% rate of interest

Bulk deposits over Rs 1 Crore shall be eligible for preferential pricing This pricing will be dependent on the liquidity conditions in the market and the call for rates for the same would be taken internally on a case to case basis.

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Eligibility and Documents

Applications will be accepted from:

  • Resident Individuals*
  • Hindu Undivided Family (HUF)
  • Sole Proprietorship
  • Partnership Firms
  • Companies including group companies
  • Club, Association and Society
  • Family Trust**

*Please note, foreign citizens, persons of Indian origin and Non Resident Indians are not applicable for our Fixed Deposits
**Charitable Trusts are not applicable for our Fixed Deposit

To know more write to us at fd@bajajfinserv.in

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Fixed Deposit Rates

There are no charges levied to open your Fixed Deposit account.

Interest rates basis tenor

  Cumulative Non Cumulative
Tenor in
months
Annual Effective
Yield
Monthly Quarterly Half Yearly Annual
12 9.25% 9.25% 8.90% 8.95% 9.05% 9.25%
15 9.75% 9.87% 9.30% 9.40% 9.40% 9.75%
24 9.40% 9.84% 9.05% 9.05% 9.15% 9.40%
36 9.65% 10.61% 9.20% 9.30% 9.30% 9.65%
48 9.25% 10.61% 8.90% 8.95% 9.05% 9.25%
60 9.25% 11.13% 8.90% 8.95% 9.05% 9.25%

Senior citizens (subject to provision of age proof) and existing Bajaj Finance customers will enjoy an additional 0.25% rate of interest

Bulk deposits over Rs 1 Crore shall be eligible for preferential pricing This pricing will be dependent on the liquidity conditions in the market and the call for rates for the same would be taken internally on a case to case basis.

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How to Apply

The Fixed Deposit Application Form is available at our branches, with our sales representatives and preferred distributing third party partners. This form should be filled in fully and signed by the Depositor(s).

The Fixed Deposit amount should be deposited by a CTS compliant cheque, payable to ‘Bajaj Finance Limited – Fixed Deposit Account 00070350006738’ and crossed ‘Account Payee only’.

The cheque should be payable at par.

For deposits more than Rs 50 lakhs, the amount may be transferred to the above mentioned bank account of Bajaj Finance Limited through RTGS. Additionally, the physical form needs to be filled up and submitted.

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Frequently Asked Question


Q1. What is a fixed deposit scheme?

A A Fixed Deposit scheme is a savings option which helps you earn interest on your money parked with the offering organization at periodic intervals either through simple or compounded interest on the principal amount. The rates of interest are typically higher than money parked in savings accounts owing to the fact that the money is locked in for a specific period and cannot be withdrawn at will of the depositor.


Q2. What are the interest rates offered by BAJAJ FINANCE LIMITED?

A The various scheme options of our fixed deposit offering are as follows:

  Cumulative Non Cumulative
Tenor in
months
Annual Effective
Yield
Monthly Quarterly Half Yearly Annual
12 9.25% 9.25% 8.90% 8.95% 9.05% 9.25%
15 9.75% 9.87% 9.30% 9.40% 9.40% 9.75%
24 9.40% 9.84% 9.05% 9.05% 9.15% 9.40%
36 9.65% 10.61% 9.20% 9.30% 9.30% 9.65%
48 9.25% 10.61% 8.90% 8.95% 9.05% 9.25%
60 9.25% 11.13% 8.90% 8.95% 9.05% 9.25%


Q3. Will any special rates be applicable for specific category of applicants?

A. Yes, special rates are provided for senior citizens, existing customers and group employees. Specific category of applicants will enjoy a rate which is 25 bps (0.25%) higher than the normal rates offered across all buckets. Please find below the specific categories eligible for special rates. Senior citizens (subject to provision of proof of age) – additional rate of 0.25% Bajaj group employees – additional rate of 0.25% Bajaj Finance Limited existing customers - additional rate of 0.25%


Q4. Will any special rates be applicable for bigger deposit amounts?

A.Bulk deposits i.e. deposits above a certain threshold shall be eligible for "differential" pricing. In the case of Bajaj Finance, any deposit above
Rs. 1 Crore will be eligible for preferential pricing.
The pricing will be dependent on the liquidity conditions in the market and the call for rates for the same would be taken internally on a case to case basis.


Q5. What are the benefits of BFL Fixed Deposit

A. Now avail best in class fixed deposits from Bajaj Finance Limited (AAA rated NBFC) at attractive rates. Bajaj Finance Limited, one of the fastest growing NBFC from one of the most trusted and respected business houses in India offers an all new Fixed Deposit program for Indian residents.
1) Rated FAAA by CRISIL, which means highest safety of your money
2) Attractive and assured rates of interest for your money to grow periodically
3) 5 maturity buckets carrying different rates of interests to suit everyone’s needs
4) Branch presence across over 100 locations in India
5) Access to all loan account details on our Customer Portal – Experia
6) Flexibility of payment option through electronic (for deposits size more than Rs 50 lakhs) or physical modes
7) Special rates for senior citizens, existing customers and group employees
8) Bajaj Finance in house products available at attractive rates specially to the depositor


Q6. What are the service facilities that will be offered to me?

A. We are a service oriented organisation with complete focus on delivering the best service experience. Some of the key highlights being:

  • Easily accessible touch points
  • Simple and transparent policies
  • A readily available Fixed Deposit online calculator which will help you plan your needs
  • Detailed communication to customers while booking a Fixed Deposit, from request to maturity
  • Scanned copy of all the documents submitted by you, available online for easy access
  • An overall experience to delight


Q7. What is the min / max amount I can invest?

A. For customers in National Capital Region and Greater Mumbai, the minimum deposit amount is Rs 1,50,000 – applicable for both Cumulative and Non Cumulative Schemes

A. For customers in Chennai, Bangalore, Kolkata, Hyderabad, Pune and Ahmedabad, the minimum deposit amount is Rs 1, 00,000 – applicable for both Cumulative and Non Cumulative Schemes

A. For customers in rest of India, only where Bajaj Finance has branch presence, minimum deposit amount is Rs 50,000 – applicable for Cumulative Scheme. For customers in rest of India, only where Bajaj Finance has a branch presence, minimum deposit amount is Rs 1,00,000 - applicable for Non Cumulative Scheme

A. Investments into any of our schemes need to be in multiples of 1000, over the minimum prescribed deposit acceptance size.

A. Max amount - there is no maximum investment limit into any of our schemes

A. For a list of BAJAJ FINANCE LIMITED branch location cities, please click here.


Q8. What is the min/max tenure I can choose?

A. Min tenor - 12 months
Max tenor – 60 months


Q9. What interest pay out options are available?

A. We offer cumulative & non cumulative interest payment options. Non Cumulative: In a 'Non cumulative’ fixed deposit scheme the interest is payable on a monthly, quarterly, semi annually and yearly basis. This scheme will be convenient if you require periodical interest payment.
Cumulative: In a 'Cumulative’ term deposit scheme the interest is payable at the time of maturity along with the principal and is compounded annually. This scheme is suitable for an individual who does not require periodical interest payment and acts as a money multiplier scheme. The interest will be compounded annually and the final payout will be subject to deduction of tax, wherever applicable.


Q10. Will I need to provide any referral for opening a Fixed Deposit account?

A. No referrals required, as you are our esteemed customer.


Q11. Who can open a Fixed Deposit account with BAJAJ FINANCE LIMITED?

A.

  • Resident Individuals
  • Hindu Undivided Family (HUF)
  • Sole Proprietorship
  • Partnership Firms
  • Companies including group companies
  • Club, Association and Societies
  • Family Trust


Q12. Who cannot open a Fixed Deposit account with BAJAJ FINANCE LIMITED?

A.

  • Foreign Citizens
  • Person of Indian Origins (PIOs)
  • Non Resident Indians (NRIs)
  • Charitable Trusts


Q13. What are the various modes through which I can make my payment?

A. The amount should be deposited only by cheque made payable to ‘Bajaj Finance Limited – Fixed Deposit Account number 00070350006738’ and crossed ‘Account Payee only’.

A. The cheque should be CTS compliant and payable at par.
For deposits more than Rs 50 lakhs, the amount may be transferred to the above mentioned bank account of Bajaj Finance Limited through RTGS. Additionally, the physical form needs to be filled up and submitted.


Q14. Can I open a deposit account by cash payment?

A. Bajaj Finance does not accept cash payment for creating a Fixed Deposit account. Also, deposit account cannot be created through borrowed funds.


Q15. What are the various documents I need to submit for opening a Fixed Deposit account?

A.

a) Latest photograph
b) Certified copy of the proof of identify
c) Certified copy of the proof of address.
d) Certified copy of the proof of signature

In case the depositor has already submitted the above documents in his earlier deposit, then he need not submit the above documents again, but has to provide the reference of his customer number or deposit number. Further an existing customer of BAJAJ FINANCE LIMITED wherein the above documents are available need not re-submit the documents.


Q16. KYC documentation required:

A. INDIVIDUAL


Q17. Id Proof (Any one):

A.

  • Passport
  • PAN (Mandatory)
  • Voters ID
  • Driving License
  • Aadhar Card



Q18. Address Proof (Any one):

A.

  • Passport
  • Voters ID
  • Driving License
  • Aadhar Card
  • Latest Utility Bills (Landline Telephone/Electricity)
  • Latest Bank Statement/Pass book with Bank Seal
  • Registered lease agreement/sale deed


Q19. Signature Proof (Any one):

A.

  • Passport
  • Driving License
  • PAN Card


NON INDIVIDUAL

Q20. PRIVATE LTD/PUBLIC LTD:

A.

  • PAN
  • KYC grid address proof
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Authorized signatories list with specimen signatures
  • Board resolution for opening the FD account
  • ID proof of Authorized Signatories as per the KYC grid of ID proof requirement


Q21. PARTNERSHIP

A.

  • PAN
  • KYC grid address proof
  • Certificate of registration
  • Partnership deed
  • Authorized signatories list with specimen signatures
  • ID proof of Authorized Signatories as per the KYC grid of ID proof requirement


Q22. HUF

A.

  • PAN of HUF
  • KYC grid address proof
  • Self attested copy of PAN card in HUF name is mandatory
  • Deed of declaration of HUF
  • Bank pass book / bank statement / Demat statement in the name of HUF
  • KYC of all adult members of HUF as per the KYC grid


Q23. STATUTORY BOARD/LOCAL AUTHORITY:

A.

  • PAN
  • KYC grid address proof
  • Authorized signatories list with specimen signatures
  • Self Certification on Letter Head


Q24. REGISTERED SOCIETIES:

A.

  • PAN
  • KYC grid address proof
  • Copy of Registration Certificate under Societies Registration Act
  • List of Managing Committee members
  • Committee resolution for persons authorizedto act as authorizedsignatories with specimen signatures
  • True copy of Society Rules and Bye Laws certified by the Chairman/Secretary


Q25. Is there any charge/processing fee levied for opening a Fixed Deposit account?

A. There are no charges levied to open your Fixed Deposit account.


Q26. Can I show this FD investment for tax exemption?

A. BAJAJ FINANCE LIMITED FD investment cannot be shown as an investment under section 80C for tax deduction benefit.


Q27. When will my interest amount be paid?

A. Non Cumulative - Interest will be paid to a customer based on scheme interest payment frequency
Monthly option - Last date of each month. The first interest will be paid on the last day of the subsequent month in which the FD is procured. Eg. If the customer has initiated the FD on 25th March and has requested for a monthly interest, the same will be paid on the subsequent month end that is 30th Apr, 31st May and so on.
Quarterly Option - June 30, September 30, December 31 and March 31
Half Yearly Option - September 30 and March 31
Annual Option - March 31 Cumulative scheme - The interest will be compounded annually and the maturity amount will be subject to deduction of tax, wherever applicable. Interest will be paid on maturity.


Q28. What is my FD amount, tenure, interest %?

A. You can refer to your Statement of Account, available on our B2C portal, Experia for details.


Q29. I need my FD certificate /Receipt

A. The original FD receipt is couriered to your address updated in our records along with your welcome kit. A virtual copy of the FD certificate/receipt is available on our B2C portal, Experia to view.
In case a duplicate FD receipt is required, please submit a written request duly signed by all the FD account holders along with an indemnity at our branch.


Q30. I was communicated an int of xxx% however, I have not received the same.

A. Request you to check the scan copy of the documents available on our B2C portal, Experia as the rate mentioned in the same is signed by you. In case of any further discrepancy please connect with our customer service team.


Q31. I had requested for a tenure of xxx however the FD is not issued on the same lines.

A. Request you to check the scan copy of the documents available on our B2C portal, Experia as the rate mentioned in the same is signed by you. In case of any further discrepancy please connect with our customer service team.


Q32. Can i withdraw this FD before the tenure expiry?If yes, what is the impact on interest?

A. The lock in period for any FD is 3 months, before which the FD cannot be withdrawn. For premature withdrawal there are penalty slabs:
0 -3 mths - FD cannot be withdrawn
3 -6 mths - No interest is payable on the deposit. Only the principle is payable
>6 mths - interest payable is 2% lower than the interest rate applicable for the period for which the deposit has run for. In case of no interest specified for the period run, interest payable will be 3% lower than the lowest rate at which Bajaj Finance accepts deposits.


Q33. If I require money can you give me loan against my FD, at a lower rate?

A. Post 3 months of being on our books, we shall provide our deposit customers, with a deposit value of above Rs 1 Cr a loan, which will be a maximum of 75% of the deposit amount at a rate which is 2% higher than the rate of interest at which the deposit has been created.


Q34. I wish to add a nominee / change the nominee details on my FD.

A. Currently only one single person can be nominated.
A nominee can also be a minor provided the relevant details are filled on the nomination form. In case the deposit is placed in the name of a minor the nomination can be made only by a person lawfully entitled to act on behalf of the minor.
For any request to change the nominee name, fill/submit the nomination form duly signed, basis which changes will be made in our records


Q35. What is the process to claim a FD if the customer is no more?

A. Nominee needs to fill in a form and request to encash the FD at the branch. In case of joint account holders, change in the names of deposit holders on deposit receipt and / or bank account to which interest and /or principal shall be credited shall be effected only on the production of a copy of the Death Certificate, certified to be true by notary public, without reference to the heirs and/or legal representatives of the deceased and instruction to the Company in this behalf by all the surviving deposit holder(s) jointly in writing. In any other case, it will be necessary for the legal representative of the deceased depositor to produce Succession Certificate/Letter of Administration/Probate of the Will etc. to the satisfaction of the Company.


Q36. Is the interest on FD taxable? What is the taxable amount?

A. Yes, under Section 194A of the Income Tax Act, 1961, in case of interest earned from investments in fixed deposits floated by NBFCs, exceeds Rs. 5,000, interest income is taxable. At a PAN Card level for the depositor, his interest income will be arrived at after consolidating all his Fixed Deposits. TDS will be calculated by Bajaj Finance and paid into the government account as per the interest payment frequency. The TDS certificate will be provided to the depositor every quarter. In case the depositor provides 15G/15H during the application stage, he will be exempted from paying tax on his interest income.


Q37. In case of non payment of the existing loan will my FD be impacted?

A. No there will be no impact on the FD.


Q38. How soon will I receive my Fixed Deposit Receipt?

A. The depositor will receive the Fixed Deposit receipt maximum within 2 weeks of creation of his deposit account, along with the welcome letter from our customer service team


Q39. I am unable to track my FD certificate. Please assist.

A. A virtual copy of the FD certificate is available online on our Customer Portal – Experia, hence the same can be viewed online.


Q40. What is the interest amount that will be credited to my account?

A. Basis the scheme availed by the customer the interest amount will be credited to the customers bank account registered with us. Post interest credit to a customers account, communication for the same is sent to the customer via SMS/email.
Refer to your Statement of Account for the details on the interest scheme availed and interest payable details.


Q41. Scheme provided is incorrect. I had asked for cumulative however non cumulative has been given to me. Vice versa

A. Request you to check the scan copy of the documents available on our customer portal, Experia as the rate mentioned in the same is signed by you. In case of any further discrepancy please connect with our customer service unit.


Q42. I wish to renew my FD

A. Bajaj Finance will send renewal reminders to the sourcing agent 3 months before the date of maturity of the deposit. The depositor will need to walk in to the nearest Bajaj Finance branch along with his physical Fixed Deposit receipt and mention his desire to renew his deposit by filling up the application/renewal form atleast 7 days prior to the maturity date. Post 7 days prior to the maturity date, no request will be taken to renew the deposit account. The depositor may renew only principal or principal along with interest.


Q43. How will the maturity amount be transferred?

A. The maturity amount will be transferred to the bank account mentioned by the depositor in the application form through National Electronic Fund Transfer/Real Time Gross Settlement modes only. The entire amount shall be transferred on the date of maturity of the deposit. In case of electronic account transfer bounce, the amount will be sent across to the depositor through cheque


Q44. I need to change my Bank account details?

A.

  • Individual FD account- requesting for a change in his bank account Customer would need to submit a written application for the same, self attested. He also needs to submit a valid ID proof copy among with a cancelled cheque with his name printed (if not printed, then bank statement of the same account needed)
  • Individual FD account – For any name change due to marriage, the lady applicant needs to provide a copy of marriage certificate along with a self attested written application for change of name.
  • Joint FD account- requesting for change in Bank details:
    Customer needs to submit a written application duly signed by all holders of the FD account, along with a cancelled cheque of the new bank account with his name printed (if not printed, then bank statement of the same account needed)
  • Corporate Account – Request for change in bank details
    Customer needs to submit a written application duly signed by the authorizedSignatories , a Cancelled cheque and the Board Resolution for change in Bank account details.


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Application-Form

Download and print the Bajaj Finserv Fixed Deposit Application Form from the comfort of your own home by clicking on the download button. Fill in your details and take it with you to your nearest Bajaj Finserv branch to invest in a Bajaj Finserv Fixed Deposit

  To View View Download
Pdf Fixed Deposit Application Form img img

Contact Us

To know more write to us at fd@bajajfinserv.in

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Agreements and T&C

Interest Payment:

Interest payment will be transferred only through National Electronic Fund Transfer (NEFT)/ Real Time Gross Settlement (RTGS), to the bank account mentioned by the depositor on the application form at the time of opening the account on a periodic basis as per the scheme availed of.

Income Tax Deducted at Source:

Interest earned (more than Rs. 5,000) on deposits placed with NBFCs is liable to be taxed under section 194A of the Income Tax Act, 1961.
TDS will be reduced from the interest amount payable before transferring the same into the depositor’s account through NEFT/RTGS.
Depositors are requested to provide a self declaration on Form15G/15H for non deduction of tax and submit it to Bajaj Finance Limited at the time of filling up the application form. Forms 15G/15H are available at any of our offices mentioned on the application form.

Premature withdrawal of the Fixed Deposit:

Please note that Pre Mature Withdrawal of the Fixed Deposit is at the sole discretion of Bajaj Finance Limited as per the regulations specified by RBI.
The lock in period of the deposit is 3 months within which the deposit cannot be withdrawn at all. From 3 to 6 months, no interest is payable on the deposit. From 6 months to the date before maturity of the deposit, in case of withdrawal, the interest rate payable will be 2% lower than the one specified for the period for which the deposit has run. In case of no rate specified for the period the scheme has run, the interest rate payable will be 3% lower than the lowest rate specified by Bajaj Finance.

Renewal/ repayment of the deposit:

In case the depositor is willing to renew the deposit amount, he will need to walk in to the nearest Bajaj Finance Limited branch, along with this physical Fixed Deposit receipt and mention his desire to renew his deposit by filling up the application/renewal form at least 7 days prior to the maturity date. Post 7 days prior to the maturity date, no request will be taken to renew the deposit account. The maturity amount will be transferred to the bank account registered during application stage, on the date of maturity

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