FD Interest Rates – Check Latest Fixed Deposit Rates in India

Amid falling fixed deposit rates and fluctuating market conditions, Fixed Deposit interest rates offered by financiers may not appear too attractive, but you can invest in a Bajaj Finance Fixed Deposit to reap the benefits of best FD rates of up to 7.35%. In addition to offering one of the best FD rates in India, Bajaj Finance Limited offers several benefits that make it easy for you to invest and grow your savings.

Bajaj Finance Fixed Deposit Rates 2020

Tenure (Months) FD interest rates Senior Citizen FD interest rates
12 – 23 6.69% - 6.90% 6.93% - 7.15%
24 – 35 6.79% - 7.00% 7.02% - 7.25%
36 - 60 6.88% - 7.10% 7.11% - 7.35%

DID You Know ? Bajaj Finance is now offering interest rates of up to 7.10% on Fixed Deposit with 0.10% extra for online FD and 0.25% more for senior citizens. - Invest Online

FD Interest Rates 2020

The returns on your deposit however, depend on your tenure, interest payout frequency and customer type. Those below 60 years of age can earn the highest fixed deposit rates of up to 7.20% by investing online, whereas senior citizens can get assured returns of up to 7.35%, which is one of the highest FD interest rates in India.

Along with the highest fixed deposit interest rates, you can look for high safety of your deposit, along with flexible tenures, periodic interest payouts, multi-deposit facility, auto-renewal facility and easy loan against FD. This ensures hassle-free investment experience along with the benefit of growing your savings with the best Fixed Deposit rates in India.

Start your investment journey with Bajaj Finance FD, and make your savings grow easily. For those looking to invest in a Fixed Deposit, here are the latest FD interest rates offered by Bajaj Finance on cumulative deposits, with payouts at maturity, w.e.f. July 4, 2020.

Start your investment journey with Bajaj Finance FD, and make your savings grow easily. Check out the latest interest rates below.

Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f 04 Jul 2020)

Tenure in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 6.90% 6.69% 6.73% 6.79% 6.90%
24 – 35 7.00% 6.79% 6.82% 6.88% 7.00%
36 - 60 7.10% 6.88% 6.92% 6.98% 7.10%

Rate benefits basis customer category (w.e.f 04 Jul 2020):

+ 0.25% or senior citizens + 0.10% for customers opening FD through online mode

Note: Senior citizens investing in a Bajaj Finance online FD will only receive one benefit (rate benefit of 0.25%), regardless of the mode of investment

Renewal:

+0.10% over and above the applicable rate of interest/card rate at the time of renewal of deposit. In case of online renewal, only one benefit (renewal benefit of 0.10%) will be extended.

Cumulative FD vs Non-cumulative FD:

Choose from Cumulative FDs (where interest is payable at the time of maturity) or Non-cumulative FDs (where interest may be payable at monthly, quarterly, half-yearly or annual basis).

Bajaj Finance FD Rates 2020 For NRI

For NRIs looking to grow their savings, Bajaj Finance Fixed Deposit offers attractive returns of up to 7.10% for new customers, up to 7.20% for existing customers and up to 7.35% for senior citizens.

Tenure (Months) FD interest rates Senior Citizen FD interest rates
12 – 23 6.69% - 6.90% 6.93% - 7.15%
24 – 35 6.79% - 7.00% 7.02% - 7.25%
36 - 60 6.88% - 7.10% 7.11% - 7.35%

Systematic Deposit Plan - Monthly Investment Plan

For those who seek a reliable monthly savings plan, Systematic Deposit Plan (SDP) by Bajaj Finance is a great choice. This monthly savings option enables the customer to invest in small monthly deposits starting with just Rs. 5000. The maturity period of each monthly deposit under Systematic Deposit Plan shall range from 12 to 60 months. The depositor can choose to make 6 to 48 numbers of monthly deposits under Systematic Deposit Plan. All deposits made with SDP shall be cumulative FDs.

The interest rate prevailing on the date of each deposit will be applicable to that particular deposit, wherein each deposit under SDP shall be treated as a separate Fixed Deposit. Check out the table below to see the latest FD interest rates for Systematic Deposit Plan.

✔️How much interest will I get in 5 years?

If you invest in a Bajaj Finance Fixed Deposit for 5 years, you can grow your savings by more than 40%. To understand this, let’s assume that you’ve invested Rs. 1,00,000 for 5 years in a Bajaj Finance FD.

Here’s a table below to help you know the 5 years Fixed Deposit interest rates better:

Customer type Interest rate Interest amount Growth in savings
Non Senior Citizen (investing offline) 7.10% Rs. 40,912 40.91%
Non Senior Citizen (investing online) 7.20% Rs. 41,571 41.57%
Senior citizen 7.35% Rs. 42,564 42.56%

Bajaj Finance Fixed Deposit offers attractive 5-year FD interest rates, so you can grow your savings easily. Customers who invest offline can get ~40% of the investment amount as returns, customers investing online can look to grow their savings by 41% and senior citizens can grow their investment amount by ~42%.

✔️Can I get monthly interest on Fixed Deposit?

Yes. You can always choose the option for periodic interest payouts, and opt for monthly interest on your Fixed Deposit. To calculate the monthly interest amount you can use FD Monthly Interest Calculator

Here’s an example to help you understand this better. Suppose you invest in a Bajaj Finance Fixed Deposit for 5 years, and choose to get interest on a monthly basis, here’s the interest income you can earn, each month:
 
Principal in Rs. Monthly payout for non senior citizens (investing offline) Monthly payout for non senior citizens (investing online) Monthly payout for senior citizens
1,00,000 Rs. 573 Rs. 581 Rs. 593
5,00,000 Rs. 2867 Rs. 2904 Rs. 2963
10,00,000 Rs. 5733 Rs. 5808 Rs. 5925

✔️Is interest on FD taxable?

Yes. The interest on Fixed Deposit 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. You can also check your TDS on FD interest.

✔️How to Choose Best FD Rates Scheme?

It is important to choose the right scheme for best Fixed Deposit rates, 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 tenure, you can choose to get your interest at the end of your tenure.
Some investors also consider the current FD rates, when planning to invest. While this may be a great way to grow your savings, it is also important to
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.

✔️Is FD A Good Investment?

Investing in Fixed Deposit is best for risk-averse investors seeking a stable investment avenue to grow their savings. You can benefit from one of the best FD rates, flexible tenures, 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.

✔️What Is the Minimum And Maximum tenure For FD?

You can choose your tenure, when you invest in Bajaj Finance Fixed Deposits. You can choose a tenure between 12 and 60 months, and in case you choose to get periodic payouts, you can also choose the frequency of your periodic payouts.

✔️What is interest rate for fixed deposit?

When investing in a fixed deposit for a specific tenure, you gain returns on your deposit, based on the latest FD rates offered by the issuer you invest with. The current fixed deposit rates are low, but you can get a mix of safety and high returns with a Bajaj Finance Fixed Deposit, with latest FD rates up to 7.85%.

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