A Fixed Deposit scheme is a savings option which helps you earn interest on your money parked with Bajaj Finance Ltd 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than money parked in savings accounts owing to the fact that the money is locked in for a specific period and cannot be withdrawn at will of the depositor, except in certain scenarios in which customer is ready to bear the prematurity penalty
Individuals, Companies, HUFs, Body of Individuals, Association of Persons, Societies, Trusts, Sole Proprietorships, Partnerships, Societies (both residential as well as credit co-operative), Clubs, Schools, Universities etc can invest
NRIs, Foreign Citizens, Person of Indian Origins (PIOs), charitable trusts and entities qualifying under section 11(5) of Income Tax Act cannot invest in BFL FD scheme.
We offer cumulative & non-cumulative interest payment options.
• In a 'Non-cumulative’ fixed deposit scheme, the interest is payable on a monthly, quarterly, semiannually and yearly basis. This scheme will be convenient if you require periodical interest payment.
• 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 periodic 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.
For rates above Rs.5 Cr, please drop a mail to firstname.lastname@example.org
For rates upto Rs.5 Cr, the card rate of Interest per annum (effective from 1st Oct’18) is as under:
|Tenor in Months||Minimum deposit size (in Rs.)||Cumulative||Non-Cumulative|
|12 – 23||25,000||8.00%||7.72%||7.77%||7.85%||8.00%|
|24 – 35||8.15%||7.88%||7.93%||8.00%||8.15%|
|36 – 60||8.75%||8.42%||8.48%||8.57%||8.75%|
|Special tenors scheme|
Yes, below-given specific category of applicants will be eligible for special rates over and above the card rates of interest as mentioned below:
• Senior Citizens (more than 60 years of age, subject to provision of proof of age) – Additional rate of 0.35% p.a. for deposit size up to ₹5 Crore
• Bajaj Group Employees – Additional rate of 0.25% p.a. (Bajaj Holdings and Investments Ltd, Bajaj Auto Ltd, Bajaj Finserv Ltd, Bajaj Finance Ltd, Maharashtra Scooters, Bajaj Allianz General Insurance Co Ltd, Bajaj Allianz Life Insurance Co Ltd, Bajaj Finserv Direct Ltd, Bajaj Housing Finance Ltd, Mukand Ltd and Bajaj Electricals Ltd) for deposit size up to ₹5 Crore
• Bajaj Finance Ltd existing loan customers – Additional rate of 0.25% p.a. for deposit size up to ₹5 Crore
• Bajaj Finance Ltd existing FD customers – Additional rate of 0.25% p.a. for deposit size up to ₹5 Crore (Investor needs to have a gap of 2 months between first and last deposit)
Note that only one of the above special category benefit is allowed per transaction. Which means if a Bajaj Group employee is also a loan customer, he will get only 0.25% (not 0.25%+0.25%=0.50%) over and above the card rate mentioned in Q2.
An EMI card holder will get 0.25% existing client benefit only if he has used the card at least once, which means a LAN (loan account number) has to get created in our records.
Yes. Additional rate of 0.25% p.a. (for deposit size up to ₹5 Crore) is applicable over and above special category benefit. For e.g, if a senior citizen wants to renew his deposit for 48 months in annual cumulative mode, he will get 8.75%+0.35%+0.25% = 9.35% on renewal.
No. Since you have locked in your money with us at a specific rate, you will continue to receive that rate till maturity. If you wish to avail the new rate, we suggest you invest in a new deposit with us.
An investment in one of the most reputed brands in India, BFL FDs offers a host of benefits:
• Minimum deposit size of Rs.25000. There is no maximum amount limit
• Rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, which means highest safety of your money
• Attractive and assured rates of interest for your money to grow periodically
• Choose a tenor of any number of months from 12 to 60 carrying different rates of interest to suit everyone’s needs
• Branch presence across over 800 locations in India
• Access to all product details on our Customer Portal – Experia
• Flexibility of payment option through electronic or physical modes
• Special rates for senior citizens, existing customers and group employees
We are a service oriented organization 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 SMS and email 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
No referrals required.
Cheque or RTGS/NEFT
1. Recent Photograph
2. VID (Virtual Identification Number)/ Aadhaar Card /Proof of Application for Enrolment of Aadhaar
3. Pan card
3. Form 60 + any 1 of the below mentioned OVDs (Officially valid documents):
• Valid passport
• Valid driving license
• Voter's ID card
• NREGA job card
• Letter containing name and address issued by National Population register
Apart from PAN and Aadhaar, the senior citizen should fill his “Current/Correspondence Address” and simply has to tick “No” for “Is Current/Correspondence Address same as Permanent Address?” in page 1 of the FD application form as shown in screenshot below. He need not submit a proof of his correspondence address as the onus/responsibility is on the customer.
There are no charges levied to open your Fixed Deposit account.
BAJAJ FINANCE LIMITED FD investment cannot be shown as an investment under section 80C for tax deduction benefit.
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. E.g. 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.
You can refer to your FDR or Statement of Account, available on our customer portal, Experia for details.
The original FD receipt is couriered to your address updated in our records. In case a duplicate FD receipt is required, please submit a written request duly signed by all the FD account holders at our branch.
For any request to change the nominee name, fill/submit the nomination form available on https://www.bajajfinserv.in/fixed-deposit-terms-and-conditions duly signed and submit it to our branch/your RM/broker, basis which changes will be made in our records
The TDS certificate will be emailed to the depositor every quarter.
The depositor will receive the Fixed Deposit receipt by courier maximum within 3 weeks of creation of his deposit account
FDR tracking system will be made available shortly on our website. In the meanwhile, a virtual copy of the FD certificate is available online on our Customer Portal – Experia, hence the same can be viewed online.
Basis the scheme availed by the customer the interest amount will be credited to the customer’s bank account registered with us. Post interest credit to a customer’s 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.
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 depositor will be intimated through phonecall, email and written letter requesting him to update the bank account details registered with us.
Download change of bank details form from https://www.bajajfinserv.in/fixed-deposit-terms-and-conditions and submit it along with a copy of FDR and cancelled cheque to your RM/broker.
Step 1: Please ensure that you have carefully checked the bank statement of the account which is registered with us. If confirmed that you have not received interest, then proceed to step 2.
Step 2: Please check the interest deposit date mentioned in question 21 above. If confirmed that you are liable to receive interest, but have not received, then proceed to step 3.
Step 3: Please drop a mail to email@example.com mentioning the FDR no and the month/quarter/year for which interest has not been received.
Post 3 months of being on our books, our deposit customers can avail 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. Tenor will be the residual maturity of the FD.
Please get in touch with your RM/branch in case you require loan against FD
No there will be no impact on the FD. All outstanding dues will be adjusted against FD maturity proceeds and the balance will be paid to the depositor.
No there will be no impact on the FD. The outstanding dues can’t be adjusted against FD. You may choose to premature the FD and repay the outstanding dues.
No, the EMI component consists of principal and interest.
Yes, repaying earlier loan against FD entirely makes you eligible for a fresh loan against FD.
No. BFL provides loan against BFL FDs only.
You can renew your FD in the following 3 ways:
• By visiting https://mysite.bajajfinservlending.in/FDRenewal.aspx
• By visiting your nearest BFL branch along with your FDR (recommended, but not mandatory) at least 2 days before maturity
• By requesting your RM at least 2 days before maturity
We require only FD application form. You may attach original FDR with it (recommended, but not mandatory)
Yes, name of nominee can be changed, but not co-applicant.
You can get in touch with your investment advisor, or drop a mail to firstname.lastname@example.org or give a call to 020-71124281 (chargeable). You can also invest online by clicking on https://mysite.bajajfinservlending.in/FDHome.aspx
You can get in touch with your RM/broker, or drop a mail to email@example.com or give a call to 020-71124281 (chargeable)
You can get in touch with your RM/broker, or drop a mail to firstname.lastname@example.org or give a call to 020-39574151 (toll free). Please mention your FDR number mandatorily.
Yes, under Section 194A of the Income Tax Act, 1961, in case of interest earned from investments in fixed deposits across all 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 to the government quarterly. In case the depositor provides 15G/15H during the application stage, he will be exempted from paying tax on his interest income. However, if the aggregate amount of interest paid or payable during the financial year exceeds Rs.2,50,000 for non-senior citizens, Rs.3,00,000 for senior citizens and Rs.5,00,000 for super senior citizens (aged 80 years and above), then form 15 G/H will not be valid and tax will be deductible
1. Experia: Log in to our customer portal Experia > Account Information > My relations > Fixed Deposit Details > View Details (for each deposit) > Form 15 G/H. Click on the checkbox to submit your form online, fill in the required details, generate and enter OTP and submit the declaration.
2. Broker: Download Form 15 G/H from our website and submit it to your broker, who in turn will send it to us.
3. Branch: Download Form 15 G/H from our website and submit it at your nearest Bajaj Finance Limited branch or courier to:
Tata Consultancy Services
Electronic Sadan No 3, 2nd Floor
Pune - 411026
You can get in touch with your RM/broker, or drop a mail to email@example.com. We will initiate refund if case is genuine.
The lock in period for any FD is 3 months, before which the FD cannot be withdrawn. For premature withdrawal there are penalty slabs as under:
• 0 -3 months - FD cannot be withdrawn (not applicable in death cases)
• 3 -6 months - No interest is payable on the deposit. Only the principal is payable
• >6 months - 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.
Yes, the co-applicant merely has to submit a written request, the death certificate and the FDR to your RM/broker. The FD proceeds (post deduction of TDS) will be credited to the bank account registered with us within 8 days of receipt of application
In case of death of the primary applicant with no nominees/joint depositors, the legal heir has to submit the below documents:
• Application for deceased’s claim (mandatory) (click here to download)
• Notarized copy of the death certificate (mandatory)
• Succession Certification/Letter of Administration/Probate of the Will (recommended, but not mandatory)
• Indemnity Bond taken from the legal heir/representative (mandatory) (click here to download)
No. Such deposit cannot be renewed.
No, the dead co-applicant’s name cannot be replaced with another co-applicant. However, by providing valid documents, the dead co-applicant’s name can be deleted from the FD.
In both the above scenarios, the below documents are required:
• Proof of death of depositor
• Declaration/Affidavit/Indemnity from the members forming part of the HUF declaring the eldest coparcener as the new Karta of the HUF.
• Fresh Deed of declaration of HUF with List of coparceners signed by Karta and adult coparceners
• Aadhaar & PAN of the new Karta
Yes, that’s because BFL cannot continue to pay interest and deduct TDS on the PAN of a dead person
No, as long as the B’s KYC documents are valid, B need not submit his KYC documents again
No, we dont accept FDs in which co-applicants are NRIs
The deposit can remain with us till maturity. If on the date of renewal, he is still an NRI, then he cannot renew the deposit and it has to be matured. The maturity proceeds should go to his NRO account only. If on the date of renewal, he becomes an Indian citizen again (for whatever reason), then he can renew his deposit.
Yes. You can always choose the option for periodic interest payouts, and opt for monthly interest on your fixed deposit.
Yes. The interest on your FD is fully taxable. The income you earn, is added to your total income and taxed at slab rates, applicable to your total income. It is then, shown under ‘Income from Other Sources’ in your Income Tax Return. In addition to Income Tax, banks and companies also deduct TDS on your interest income.
Investing in Fixed Deposits is best for risk-averse investors seeking a stable investment avenue to grow their savings. You can benefit from flexible tenors, and choose periodic payout options. FDs are one of the best low-risk investment options that can help you increase your savings easily. You can get guaranteed returns, without any effect of market fluctuations.
It is important to choose the best FD rate scheme, based on your requirement. You have the options to get your interest at the end of your maturity period, or opt for periodic payout options. In case you’d like to tend to your regular expenses, you can choose the option of periodic payouts, but if you’d like a lump sum amount at the end of your tenor, you can choose to get your interest at the end of your tenor.
When choosing the FD rate schemes, it is also important to make sure your company FD has the highest safety ratings, so that your principal amount is not at risk.
You can choose your tenor, when you invest in Bajaj Finance Fixed Deposits. You can choose a tenor between 12 and 60 months, and in case you choose to get periodic payouts, you can also choose the frequency of your periodic payouts.