FD interest rates for senior citizens —2021
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A fixed deposit offers assured returns, making it a preferred investment option for senior citizens. With strong credibility and ease of transaction, a Bajaj Finance online FD is an excellent choice for every investor, regardless of their risk appetite. Senior citizens can get an additional benefit of 0.25% on their deposit, whether they invest online or offline.
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Features and benefits of Bajaj Finance Fixed Deposit
Interest Rate Ranging from 5.65% to 6.75% Minimum Tenor 1 Year Maximum Tenor 5 Years Deposit Amount Minimum deposit of Rs. 25,000 Application Process Easy online paperless process Online Payment Options Net Banking and UPI -
Assured returns up to 6.75%*
Our senior citizen customers get an additional 0.25% interest rate on their FD.
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Convenient online process
Invest in a fixed deposit from the comfort of your home with Bajaj Finance online FD.
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Flexible tenors of up to 60 months
Select a convenient tenor of up to 5 years for your fixed deposit.
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Highest safety with AAA-rated deposit
Bajaj Finance FD has the highest stability ratings— CRISIL's FAAA/Stable Rating and ICRA's MAAA (stable).
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Periodic interest payouts
Choose to get interest payouts monthly, quarterly, half-yearly or even annually.
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Invest in a Bajaj Finance Fixed Deposit
Fixed deposit offers customers assured returns on their deposits, making it a preferred investment avenue for senior citizens. The ease of transaction, certainty, the safety of the deposits and convenient online facilities make Bajaj Finance FD an excellent choice for every investor, regardless of their risk appetite.
By investing in a Bajaj Finance Senior Citizen FD, senior citizens can reap additional rate benefits of 0.25%, along with the option to choose periodic payouts and a suite of other benefits to secure their post-retirement years.
How to invest in Bajaj Finance FD?
Here is a detailed guide on investing in a Bajaj Finance Fixed Deposit. You can start your online application and resume it at a later instance.
- Click on 'Invest Now' to go to our online form
- Enter your phone number and date of birth. Verify your OTP.
- If you're a new customer, enter your basic details for the OKYC process; verify your details if you are an existing customer.
- Enter the deposit amount, tenor and interest payout type, along with your bank details.
- Pay via Net Banking or UPI.
Upon successful payment, your deposit will be booked, and you will receive an acknowledgement via email and SMS within 15 minutes.
Senior Citizen Fixed Deposit Interest Rates in India 2021
Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f. 12 May 2021) |
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| Tenor in Months | Minimum deposit (in Rs.) | Cumulative | Non-Cumulative | |||
| Monthly | Quarterly | Half-yearly | Annual | |||
| 12 – 23 | 25,000 | 5.90% | 5.75% | 5.77% | 5.82% | 5.90% |
| 24 – 35 | 6.35% | 6.17% | 6.20% | 6.25% | 6.35% | |
| 36 - 60 | 6.75% | 6.55% | 6.59% | 6.64% | 6.75% | |
Renewal:+0.10% over and above the applicable rate of interest/card rate at the time of deposit renewal.
Frequently asked questions
• What is a Senior Citizen FD?
Bajaj Finance offers fixed deposits for senior citizens as well. Individuals above the age of 60 can easily invest in a Bajaj Finance Fixed Deposit and earn fixed interest on their deposit.
• What is the interest rate for Bajaj Finance Senior Citizen Fixed Deposit?
The interest rate for a Bajaj Finance Senior Citizen Fixed Deposit starts at 5.75% and goes up to 6.75%, depending on the tenor you select. If you choose a tenor of 36 months or more, you can earn an interest rate of 6.75%.
• Is Bajaj Finance FD a safe investment option?
Bajaj Finance FD is one of the safest investment options for senior citizens. Here's what makes it one of the most secure ways to grow your savings:
- Bajaj Finance's FD has The highest safety ratings of FAAA by CRISIL and MAAA by ICRA, indicating the lowest likelihood of defaults or delays.
- Bajaj Finance has a clientele of 3,00,000+ happy FD customers, who have contributed towards a total FD book size of Rs. 25,000+ crore.
- Nearly 80,000 of these customers are senior citizens, reflecting that senior citizens trust this FD to be one of the safest investment avenues.
• What is the best investment option for senior citizens?
As one of the most reliable fixed-income instruments, Bajaj Finance Fixed Deposit is the best investment option for senior citizens. You can choose the tenor, payout frequency and investment amount at your convenience. By investing in a Bajaj Finance FD, you get high returns and ensure the safety of your investment amount.
• What is the interest rate for senior citizens?
Senior citizens can get attractive interest rates of up to 6.75% by investing in a Bajaj Finance Senior Citizen FD. Senior citizens' fixed deposit interest rates are 0.25% higher than the regular FD interest rates to help them plan their post-retirement expenses easily and cruise through their golden years without any roadblocks.
• Is the interest earned on FDs taxable for senior citizens?
The interest earned on the fixed deposit is taxable as per the applicable Income Tax laws. These taxes, if any, are deducted at the source. Senior citizens whose interest income from all Bajaj Finance FDs is cumulatively up to Rs. 3 lakh in a year can submit Form 15H to avoid incurring any deductions.
• What is the safest investment option for senior citizens?
A fixed deposit is one of the safest investment avenues for senior citizens. To grow their savings, senior citizens can consider investing in a Bajaj Finance FD because of the following benefits:
- Bajaj Finance has the highest safety ratings of FAAA by CRISIL and MAAA by ICRA, which indicates the highest safety of the deposit.
- Bajaj Finance is known to have '0 unclaimed deposits', which points towards timely payments and a default-free experience.
- Bajaj Finance has an end-to-end online FD facility, enabling senior citizens to invest easily from home. However, the rate benefit of 0.10% on online deposits does not apply to senior citizens.
- Senior citizens can gain an additional rate benefit of 0.25% on their deposit, regardless of their mode of investment.
- Senior citizens can also choose to get payouts periodically, which can help them fund their regular expenses.
