Senior Citizen Fixed Deposit Rates

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 credit ratings of CRISIL AAA/STABLE and [ICRA]AAA(Stable), indicates highest level of safety and lowest investment risk.
  
• 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.

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.

Senior citizens can get attractive interest rates up to 8.30% Bajaj Finance also offers special interest rates for certain tenors through which one can earn up to 8.60%

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.

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 CRISIL AAA/STABLE and [ICRA]AAA(Stable).
  
• 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.

By investing in a Bajaj Finance Senior Citizen FD, senior citizens are eligible for additional rate benefit of up to 0.25% p.a. p.a. By investing in a Bajaj Finance Senior Citizen FD, they can earn returns of up to 8.60% p.a.

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

a. Senior Citizen Fixed Deposit: With the Bajaj Finance Fixed Deposit, senior citizens can enjoy interest up to 8.60% p.a. Under section 80 TTB of the IT act, interest income up to 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 Senior Citizen Savings Scheme 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 Scheme 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.