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Your FD renewal options with Bajaj Finance
When your fixed deposit matures, you have three ways to renew it:
| Renewal option | What it means |
|---|---|
| Reinvest only the principal | Your original invested amount is renewed, while the interest earned is credited to your bank account |
| Reinvest principal and interest | Both your original amount and the interest earned are reinvested together, maximising your returns |
| Partial renewal | You choose to reinvest only a portion of your maturity amount, while the rest is credited to your account |
Each option suits a different need, whether you want to maximise growth, access some funds while continuing to save, or simply keep your interest flowing into your bank account regularly.
How each renewal option works: an example
To see how these options play out in practice, consider an FD of Rs. 2.5 lakh invested for 24 months:
- Reinvest only the principal: The Rs. 2.5 lakh principal is renewed, and the interest earned over the 24 months is credited directly to the bank account
- Reinvest principal and interest: The full maturity amount, Rs. 2.5 lakh plus the interest earned, is reinvested together for continued growth
- Partial renewal: If Rs. 1 lakh is needed from the maturity amount, only Rs. 1.5 lakh plus interest is reinvested, and the remaining Rs. 1 lakh is credited to the bank account
This flexibility means you're not locked into an all-or-nothing choice when your FD matures.
How to renew your FD online through My Account
Renewing your FD is a fully online process, with no branch visit required:
- Sign in to My Account using your registered mobile number and OTP
- Verify your identity by entering your date of birth
- Select the FD you want to renew from the 'My Relations' section
- Click on 'Renew FD' under 'Quick Actions'
- Choose your preferred renewal option and enter the required details
- Verify with the OTP sent to your registered mobile number and confirm the renewal
You can also complete this process through the Bajaj Finance app, available on the Play Store and App Store.
Things to know before renewing your FD
A few points to keep in mind when renewing:
- Your fixed deposit will be booked at the interest rate prevailing on the date of renewal, not your original rate
- Renewal requests can be submitted online without visiting a branch, through My Account or the app
- Choose the renewal option that matches your current financial goals, whether that's maximising growth, accessing part of your funds, or simply continuing your investment
When should you renew your FD?
Renewal requests should be submitted before your FD's maturity date to ensure continuity of your investment without interruption. Check the exact window in which you can submit your renewal request through My Account, since this can vary, and confirm with Bajaj Finance customer care if you're unsure how close to your maturity date you need to act.
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Frequently Asked Questions
FD Renewal Options & Process
FD Renewal & Maturity
What are the FD renewal options available with Bajaj Finance?
You can choose to reinvest only your principal amount, reinvest both your principal and interest together, or partially renew a portion of your maturity amount while the rest is credited to your bank account.
Can I renew my FD without visiting a branch?
Yes, you can renew your FD entirely online through My Account or the Bajaj Finance app, without needing to visit a branch. The process takes just a few steps and is completed using OTP verification.
Will my renewed FD get the same interest rate as before?
No, your fixed deposit is booked at the interest rate prevailing on the date of renewal, not your original rate. Check the current rates before confirming your renewal.
Can I withdraw part of my FD amount and renew the rest?
Yes, the partial renewal option lets you choose how much of your maturity amount to reinvest, while the remaining amount is credited to your registered bank account.
What documents do I need to renew my FD online?
You don't need to submit fresh documents to renew your FD. You simply need your registered mobile number and date of birth for identity verification during the online renewal process.
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