Bajaj Finance Best Investment Plans

FD Interest Rates

FD Interest Rates: (w.e.f. 03 Sep 2019)

When you invest in fixed deposits, you invest a principal amount at a fixed interest rate. You can then, gain best interest on your deposits, which accrues and grows over time. Higher FD rates can enable you to gain a higher maturity amount, which is why you must choose lenders offering the highest FD interest rates in India 2019.

Fixed Deposit Interest Rates 2019

Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 8.00% 7.72% 7.77% 7.85% 8.00%
24 – 35 8.05% 7.77% 7.82% 7.89% 8.05%
36 – 60 8.35% 8.05% 8.10% 8.18% 8.35%

Rate benefits basis customer category (w.e.f. 03 Sep 2019):

+ 0.35% for senior citizens

+ 0.10% for Bajaj Group employees, Bajaj Finance Ltd customers and Bajaj Allianz Life Insurance existing policyholders

Renewal:

+0.10% over and above the rate of interest at which the deposit is booked

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).

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 49%. 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 Return on investment
New customer 8.35% Rs. 49,329 49.32%
Existing customer 8.45% Rs. 50,020 50.02%
Senior citizen 8.70% Rs. 51,757 51.75%

Bajaj Finance Fixed Deposit offers attractive 5-year FD interest rates, so you can grow your savings easily. New customers can get ~49% of the investment amount as returns, existing customers or Bajaj employees can look to grow their savings by ~50% and senior citizens can grow their investment amount by ~51%.

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 new customers Monthly payout for senior citizens
1,00,000 Rs. 671 Rs. 698
5,00,000 Rs. 3354 Rs. 3488
10,00,000 Rs. 6710 Rs. 6980

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 tenor, you can choose to get your interest at the end of your tenor.
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 Deposits 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 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.

What Is the Minimum And Maximum tenor For FD?

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.

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