Features and Benefits of Bajaj Finance Fixed Deposit

  • Get secured returns up to %$$FD44-sennoncumyr$$%

    Get secured returns up to 7.60% p.a.

    Grow your savings without any effect of market fluctuations.

  • Up to %$$FDscFDextrarate$$%, the higher interest rate for senior citizens

    Up to 0.25% p.a., the higher interest rate for senior citizens

    Choose to receive returns on maturity or periodically.

  • Flexible tenors up to 60 months

    Flexible tenors up to 60 months

    Get higher returns on your investments by staying invested for longer.

  • Deposits start just Rs. 5,000 per month

    Deposits start just Rs. 15,000

    Start investing with a small amount and grow your savings with our fixed deposits.

Senior Citizen Fixed Deposit 2022

Senior Citizen Fixed Deposits (FDs) are term deposit plans with exceptional interest rates available to individuals over the age of 60. Apart from the additional 0.25% p.a. rate of interest, these fixed deposit accounts offer a wide range of benefits to older residents. Regular interest payouts can provide a constant and reliable income source for seniors in their post-retirement years. If needed, they can also take out a loan against the FD.

Bajaj Finance offers assured returns on fixed deposits, making them the preferred investment avenue for senior citizens. The ease of transaction, certainty, the safety of deposit and online facilities make the Bajaj Finance FD an excellent choice for every investor, regardless of their risk appetite.

The Bajaj Finance Senior Citizen FD is designed to facilitate the unique requirements of senior citizens. By investing in this fixed deposit, senior citizens can reap additional rate benefits of up to 0.25% p.a., along with the option to get periodic payouts and a suite of other benefits to secure their post-retirement years.

*Conditions apply

Interest Rate

7.60% p.a.

Minimum Tenor

1 Year

Maximum Tenor

5 Years

Deposit Amount

Minimum deposit of Rs. 15,000

Application Process

Easy online paperless process

Online Payment Options

Net Banking and UPI

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How to Invest in Bajaj Finance Fixed Deposit

Investing in a Bajaj Finance online FD is quick and easy. Follow the steps below:

  1. 1 Click on 'Invest Online' to open our online form
  2. 2 Enter your phone number, date of birth and OTP
  3. 3 Existing customers only need to verify their details
  4. 4 If you’re a new customer, you will be asked to enter your basic details for OKYC
  5. 5 Choose the deposit amount, tenor, interest payout type and your bank details
  6. 6 Pay the amount with net banking or UPI

Upon successful payment, your deposit will be booked, and you will receive an acknowledgement via e-mail and SMS within 15 minutes.

Senior Citizen Fixed Deposit Interest Rates in India 2022

Annual rate of interest valid for deposits from Rs. 15,000 up to Rs. 5 Crore (w.e.f June 14, 2022)

Tenor in months

12 – 23

24 – 35

36 - 60

Cumulative

6.10% p.a.

6.85% p.a.

7.45% p.a.

Monthly

5.94% p.a.

6.64% p.a.

7.21% p.a.

Quarterly

5.97% p.a.

6.68% p.a.

7.25% p.a.

Half-yearly

6.01% p.a.

6.74% p.a.

7.32% p.a.

Annual

6.10% p.a.

6.85% p.a.

7.45% p.a.

 

Special FD interest rates for cumulative deposits

Tenor in months

15

18

22

30

33

44

At Maturity

6.30% p.a.

6.40% p.a.

6.55% p.a.

6.95% p.a.

7.20.% p.a.

7.60% p.a.


Special FD interest rates for non-cumulative deposits

Tenor in months

15

18

22

30

33

44

Monthly

6.13% p.a.

6.22% p.a.

6.36% p.a.

6.74% p.a.

6.97% p.a.

7.35% p.a.

Quarterly

6.16% p.a.

6.25% p.a.

6.40% p.a.

6.78% p.a.

7.01% p.a.

7.39% p.a.

Half Yearly

6.20% p.a.

6.30% p.a.

6.45% p.a.

6.83% p.a.

7.08% p.a.

7.46% p.a.

Annual

6.30% p.a.

6.40% p.a.

6.55% p.a.

6.95% p.a.

7.20% p.a.

7.60% p.a.

 

Rate benefits basis customer category (w.e.f June 14, 2022)

  • Additional rate benefits up to 0.25% p.a. for senior citizens

Frequently asked questions

What is a senior citizen fixed deposit?

Bajaj Finance offers fixed deposits for senior citizens, so individuals above 60 years of age can invest in a Bajaj Finance Fixed Deposit , earn fixed returns and grow their savings without any effect of market fluctuations.

Is the Bajaj Finance Fixed Deposit safe?

Bajaj Finance FD is one of the safest investment options for senior citizens. Here's what makes it one of the safest ways to grow your savings:

  • The highest safety ratings of FAAA by CRISIL and MAAA by ICRA for this FD indicate the lowest likelihood of defaults or delays
  • More than 2.5 lakh happy customers have contributed to a total FD book size of more than Rs. 20,000 crore
  • Nearly 80,000 of these customers are senior citizens, which reflects how senior citizens trust this FD to be one of the safest investment avenues

Investing in a Bajaj Finance Fixed Deposit is safe, 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, the Bajaj Finance Fixed Deposit is the best investment for senior citizens. You can choose the tenor, payout frequency and investment amount at your convenience.

By investing in a Bajaj Finance FD, you gain 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 up to 7.45% p.a. Bajaj Finance also offers special interest rates for certain tenors through which one can earn up to 7.60% p.a.

Is interest in 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 is Rs. 3 lakh in a year can submit Form 15H to avoid incurring deductions.

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 the highest safety ratings of FAAA by CRISIL and MAAA by ICRA
  • 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 NA on online deposits is not applicable for senior citizens
  • Senior citizens can get an additional rate benefit of up to 0.25% p.a. on their deposit, regardless of their mode of investment
  • Senior citizens can also choose the option to get payouts periodically, which can help them fund their regular expenses easily

Thus, Bajaj Finance FD makes a great investment choice for senior citizens. It is also one of the safest choices to grow savings and get assured returns.

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

By investing in a Bajaj Finance Senior Citizen FD, senior individuals can earn attractive interest rates of up to 7.60% p.a. Senior citizens are eligible for a 0.25% p.a. increase. By investing in a Bajaj Finance Senior Citizen FD, they can earn returns of up to7.60% p.a..

How can senior citizens save tax?

There are various investment options throguh which senior citizens can create wealth and also save tax. Some of these methods are:

a. Senior Citizen Fixed Deposit: With the Bajaj Fiannce Fixed Deposit, senior citizens cna enjoy interest up to 7.60% p.a. Under section 80 TTB of the IT act, interest income upto Rs. 50,000 for senior citizens during a financial year is tax free.

b. Senior Citizen Saving’s Scheme: If you are above 60 years old, you can invest in the government-backed SCSS and deduct up to Rs. 1.5 lakh from your taxable income under Section 80C of the Income Tax Act, 1961. Taxes are levied on the interest.

c. National Pension Scheme: The National Pension System Trust is a specialised section of the Pension Fund Regulatory and Development Authority, which is under the Ministry of Finance's supervision. In India, the National Pension Scheme is a defined contribution pension system with a voluntary component.

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