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Senior Citizens FD Rates- 2021 - Upto 8.05% Interest Rate

Senior Citizen FD – Rates, Features & Benefits

Fixed Deposit offers assured returns on their deposits, which makes it a preferred investment avenue for senior citizens. The ease of transaction, certainty, safety of deposits and online facilities make Bajaj Finance FD a great choice for every investor, regardless of their risk appetite. However, senior citizens can look for an additional 0.25% interest rate benefit on their deposit, whether they choose to invest online or offline.

Bajaj Finance Senior Citizen Fixed Deposit 2021

Here are the features and benefits that makes Bajaj Finance FD one of the most preferred investment options for senior citizens:

Tenure (Months) FD interest rates Senior Citizen FD interest rates
12 – 23 5.94% - 6.10% 6.17% - 6.35%
24 – 35 6.13% - 6.30% 6.36% - 6.55%
36 - 60 6.41% - 6.60% 6.64% - 6.85%

Designed to facilitate the unique requirements of senior citizens, investing in this FD offers the benefits of one of the highest FD interest rates in India, option to get periodic payouts and a suite of other benefits to secure your post-retirement years.

Here are the features and benefits that makes Bajaj Finance FD one of the most preferred investment options for senior citizens:

  • Fixed Deposit with rate of interest up to 8.35%

    Invest at an attractive interest rate of up to 8.35%, which is 0.25% higher than usual

  • Convenient Fixed Deposit online process

    Investing in a Bajaj Finance FD is now easier than ever, as existing customers can enjoy an end-to-end online paperless process that helps them invest from the comfort of their homes. The Bajaj Finance online FD option enables you to lock into high interest rates right away, without any paperwork or the need to visit our branches. All your FD details are sent to your registered details, and your money starts growing.

  • Easy online investment process

    You can now invest in a Bajaj Finance online FD that enables you to invest from the comfort of your home, without having to visit our branches. You can also track your investments easily through the Experia app.

  • Flexible Tenure

    Choose tenures of 12 to 60 months, as per your convenience with a Bajaj Finance Fixed Deposit.

  • High stability

    Bajaj Finance FD has been rated ICRA’s MAAA (Stable) and CRISIL’s FAAA/Stable, the highest safety rating in the industry.

  • Fixed Deposit Calculators

    Evaluate and manage your finances with the easy-to-use Fixed Deposit Calculator.

  • Option For FD Periodic Interest Payouts

    With Bajaj Finance Fixed Deposit for senior citizens, you can opt for periodic interest payouts, where you can choose to get your interest payout monthly, quarterly, half-yearly or annually. This can help you manage your finances easily.

Senior Citizen Fixed Deposit Interest Rates in India 2021

Tenure in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 6.35% 6.17% 6.20% 6.25% 6.35%
24 – 35 6.55% 6.36% 6.40% 6.45% 6.55%
36 - 60 6.85% 6.64% 6.68% 6.74% 6.85%

FAQ Suggestions for Senior Citizen

What is a Senior Citizen FD?

Bajaj Finance offers Fixed Deposit for senior citizens, wherein individuals above 60 years of age can invest in a Bajaj Finance Fixed Deposit, earn fixed interest and grow their savings easily.

What is the interest rate for Bajaj Finance Senior Citizen Fixed Deposit?

The interest rate for Bajaj Finance Senior Citizen Fixed Deposit starts at 6.35% and goes up to 8.35%, depending on the tenure you select. If you select a tenure of 36 months or more, you can earn an interest rate of 6.85%.

Is Bajaj Finance FD safe?

Check out what makes Bajaj Finance FD one of the safest investment avenues:

  • It is the only NBFC with BBB- rating from S&P Global
  • Bajaj Finance Fixed Deposit carries the highest stability ratings of FAAA by CRISIL and MAAA by ICRA
  • Bajaj Finance Fixed Deposit has a clientele of 2,50,000 happy customers, who’ve contributed towards a total FD book size of 20,000+ crore.
  • Nearly 80,000 of these customers are senior citizens, which shows how senior citizens consider it as one of the safest investment avenues.
Investing in a Bajaj Finance Fixed Deposit is hence, the safest option, as you can be sure of low risks of delays and defaults.

What is the best investment for senior citizens?

As one of the most reliable fixed-income instruments, Bajaj Finance Fixed Deposit is the best investment for senior citizens. You can choose the tenure, payout frequency and investment amount as per your convenience.

By investing in a Bajaj Finance FD, you not only gain high returns, but also ensure high safety of your investment amount.

What is interest rate for senior citizens?

Senior citizens can get attractive interest rates of up to 8.05% by investing in a Bajaj Finance Senior Citizen FD. FD interest rates for senior citizens are 0.25% higher than regular FD interest rates, so as to help senior citizens plan their post-retirement expenses easily and cruise through their golden years without any roadblocks.

Is interest on FD taxable for senior citizens?

The interest earned on Senior Citizen 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 put together are upto Rs.3 lacs in a year, can submit Form 15H to avoid incurring any deductions.

Where should a senior citizen invest money?

Senior citizens must invest their hard-earned money in safe investment avenues that offer assured returns. Bajaj Finance Fixed Deposit is one such option that offers a lucrative balance of attractive FD rates along with safety of deposit. Senior citizens can gain 0.25% rate benefit on their deposit, whether they invest online or offline. However, since senior citizens gain rate benefit of 0.25%, the rate benefit of 0.10% on online deposit is not applicable for senior citizens.

What is the safest investment for senior citizens?

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 highest safety ratings of FAAA by CRISIL and MAAA by ICRA, which indicates highest safety of deposit
  • Bajaj Finance is known to have ‘0 unclaimed deposits’, which points towards timely payments and default-free experience
  • Bajaj Finance has an end-to-end online FD facility, which enables senior citizens to invest easily from home. However, rate benefit of 0.10% on online deposit is not applicable for 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 the option to get payouts on a periodic basis, which can help them fund their regular expenses easily.
Thus, Bajaj Finance FD makes for a great investment choice for senior citizens. It is also one of the safest choices to grow savings and get assured returns.

What is interest rate for senior citizens?

Senior citizens can reap the benefit of attractive FD rates up to 6.85% by investing in a Bajaj Finance FD for at least 36 months, and opting for interest payout at maturity or on an annual basis. On the other hand, non-senior citizens get interest rates up to 6.60% on their deposit, with a rate benefit of 0.10% on online deposit. However, this additional rate benefit of 0.10% is not applicable for senior citizens. This is because, senior citizens get additional rate benefit of 0.25% on their deposit, which helps them plan their post-retirement expenses easily and cruise through their golden years without any roadblocks.

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