Fixed deposits (FD) are considered a safe investment option that provides you with secured returns. When you open an FD, you deposit a lump-sum amount of money for a pre-defined period. The investment earns you some interest based on the prevailing rate. Once your deposit completes its tenure or matures, in most cased you receive the invested amount along with the interest in your registered bank account.
However, if you wish to earn more interest on your invested amount, you can choose to renew your fixed deposit. With the FD renewal option, you can maximise your savings by ensuring the continuity of investment.
Bajaj Finance offers fixed deposits that come with the highest safety and credibility. We provide multiple renewal options that help you maximise your savings. Here’s a look at each one of them in detail.
- Reinvestment of the principal amount: While you are renewing your Bajaj Finance FD, with this option, you can renew only the principal amount. This option allows you to receive the interest amount while your principal amount remains invested.
- Interest and principal: With the interest and principal option, you can choose to renew the principal amount you’ve invested along with the interest earned on it. This option helps you to get maximum benefits as you’ll earn interest on the total amount.
- Renew an amount of your choice: With the partial renewal option, you can choose to reinvest an amount of your choice from the total maturity amount. This option comes in handy if you need some funds from your invested amount while you also want to continue to reinvest the remaining amount.
For instance, Anmol had opened an FD of Rs. 2.5 lakh for 24 months and is now looking to renew it. With our multiple renewal plans, she can choose to reinvest only the principal amount, which is Rs. 2.5 lakh and receive the interest amount in her registered bank account upon maturity.
With the interest and principal option, Anmol can invest the principal amount, which is Rs. 2.5 lakh and the interest she has earned on it over the period of 24 months. However, in case Anmol needs Rs. 1 lakh from the invested amount, she can choose our custom option and reinvest only Rs. 1.5 lakh and the interest amount. The remaining amount will get credited to her bank account upon maturity.
With the online Bajaj Finance services, renewal of your FD is easy and hassle-free and doesn’t require any branch visits. Our online FD services allow you to renew your fixed deposit 24 hours before its maturity date.
You can easily renew your FD by signing-in to My Account – Bajaj Finance customer portal. Follow these simple steps to renew your FD today. - Click on the ‘Sign-in’ button on this page to go to My Account.
- Enter your registered mobile number and the OTP to sign-in.
- Verify your details by entering your date of birth and proceed.
- Select the FD you want to renew from the ‘My Relations’ section.
- Click on the ‘Renew FD’ option from the ‘Quick Actions’ section.
- Enter the required details and select from the above-mentioned plan as per your choice.
- Verify your details with the OTP received on your registered mobile number and proceed with renewal.
Please note that the fixed deposit will be booked at the prevailing rate of interest on the date of FD renewal.
Sign-in
You can also download our app from Play Store/ App Store and renew your fixed deposit on the go.
