In summary
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This page explains current rate slabs, payout choices, investment limits, eligibility, documentation, tax treatment, withdrawal rules, and retirement-planning benefits clearly.
- Current senior citizen rates range from 6.74% p.a. for monthly payouts to 7.75% p.a. for at-maturity investments across eligible tenures.
- Deposits start at Rs. 15,000 and extend to Rs. 3 crore, with available tenures ranging from 12 to 60 months.
- Investors may choose monthly, quarterly, half-yearly, annual, or at-maturity interest options depending on their cash-flow needs and investment objectives carefully.
Premature withdrawal follows defined conditions, while deposits may support loans reaching 75% of the cumulative Fixed Deposit value when required.
Reviewing rate, tenure, payout frequency, taxation, and liquidity together helps senior citizens select deposits aligned with their retirement cash-flow plans.
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Key pointers
- Understand the difference between simple and compound interest to compare returns across FD types and tenures accurately.
- Cumulative FDs reinvest the interest earned, enabling compounding and supporting long-term wealth creation.
- Use the Bajaj Finance FD Calculator to estimate maturity amounts and compare different deposit scenarios.
- FD interest rates may vary based on tenure, investor category, payout frequency, deposit amount, and the issuer’s credit profile.
- Strategies such as FD laddering, cumulative deposits, and senior citizen interest rates can help optimise returns while managing liquidity and risk.
Fixed deposit schemes for senior citizens
Avoid these mistakes while booking FD
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Bajaj Finance offers a Senior Citizen Fixed Deposit with different tenures and payout frequencies, allowing investors to align returns with financial goals.
Feature Bajaj Finance Senior Citizen Fixed Deposit Deposit amount Rs. 15,000 to Rs. 3 cr Tenure 12 to 60 months Maximum interest rate Up to 7.75% Additional senior citizen benefit Up to 0.35% p.a. Payout choices Monthly, quarterly, half-yearly, annual, or at maturity Premature withdrawal Available under defined conditions Loan against Fixed Deposit Up to 75% of FD value Nomination Available during or after booking Account management Online through Bajaj Finance My Account
Why invest in senior citizen FDs?
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Senior Citizen Fixed Deposits can support retirement planning by combining predetermined returns, flexible payout options, deposit limits, and liquidity provisions effectively.
Better returns
Senior citizens earn up to 0.35% p.a. additional interest compared with customers below sixty, increasing earnings for the same amounts and tenures. The booked rate remains unchanged through the chosen tenure, provided the deposit continues until maturity without premature withdrawal or material changes.
Multiple payout options
Investors can choose monthly, quarterly, half-yearly, annual, or cumulative interest, matching payments with household budgets or longer-term corpus-growth requirements appropriately. Cumulative deposits reinvest interest until maturity, while non-cumulative deposits distribute interest periodically and return principal at maturity after the chosen tenure.
Cover various expenses
Regular interest can help cover recurring costs such as utilities, medicines, insurance premiums, maintenance, and other retirement expenses each month comfortably. Because payouts are predetermined, investors can map expected income against essential expenses without relying on daily market movements for financial planning.
Collateral for a loan
Eligible deposits can support a loan against Fixed Deposit, helping investors address temporary liquidity needs without closing their investment prematurely during emergencies. Bajaj Finance offers loans up to 75% of cumulative deposit value and 60% of non-cumulative value, subject to applicable conditions and eligibility.
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Key features of senior citizen fixed deposit
These features help senior citizens compare expected income, investment access, account management, credit quality, and liquidity before booking a deposit online.
Feature Details Assured returns Unaffected by market movements Senior citizen rate Up to 7.75% p.a. Additional interest Up to 0.35% p.a. Tenure range 12 to 60 months Minimum investment Rs. 15,000 Payout options Monthly to at maturity Digital access Online booking and account management Credit ratings CRISIL AAA/STABLE and [ICRA]AAA(Stable) Nomination and renewal Available Fixed Deposit Calculator Estimates interest and maturity amount Senior citizen FD interest rates
Senior Citizen FD interest rates are generally higher than regular investor rates, but the difference depends on the issuer and tenure selected. For Bajaj Finance Fixed Deposit, the senior citizen benefit is up to 0.35% p.a. above rates for customers below sixty years.
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FD rates for customer above the age of 60
FD rates for customers aged 60 years and above
The following annualised fixed deposit interest rates apply to senior citizens for deposits ranging from Rs. 15,000 to Rs. 3 crore, effective from 1st May, 2026.
Senior citizen FD rates
Tenure At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half-yearly (p.a.) Annual (p.a.) 12–17 months 6.95% 6.74% 6.78% 6.83% 6.95% 18–30 months 7.20% 6.97% 7.01% 7.08% 7.20% 31–60 months 7.75% 7.49% 7.53% 7.61% 7.75% -
Taxation under senior citizen fixed deposit
Interest from a Senior Citizen Fixed Deposit is taxable and must be included while calculating the investor’s income under applicable tax rules.
Tax consideration What senior citizens should know Interest taxation Added to total income and taxed under the applicable regime TDS threshold Rs. 10,000 for interest falling under the current “other cases” threshold TDS rate Generally 10% with PAN, subject to prevailing tax provisions Form 121 Eligible investors with nil tax liability may request a TDS waiver Section 80TTB Generally covers eligible bank, cooperative bank, and post-office interest Tax records Check Form 26AS and the Annual Information Statement Eligible investors can submit Form 121, which replaced Form 15H for Bajaj Finance Fixed Deposit waiver requests from April 2026. Use the Fixed Deposit Calculator to estimate your returns and maximize your savings with Bajaj Finance’s highest Senior Citizen FD rates
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Benefits of senior citizen fixed deposit rates
Senior citizen Fixed Deposit rates support retirement planning through predictable returns, flexible payouts, digital access, and liquidity options under defined conditions.
- Higher earnings: Up to 0.35% p.a. additional interest compared with customers below sixty
- Regular income: Monthly, quarterly, half-yearly, or annual payout options
- Market independence: Assured returns remain unaffected by market movements
- Liquidity support: Loan against eligible Fixed Deposits without premature closure
- Convenient access: Online booking, renewal, receipt downloads, and account management
- Retirement planning: Predetermined income supports budgeting and planned expenses
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Senior citizen fixed deposit eligibility
Resident Indians 60 years or above on the booking date can apply for a Bajaj Finance Senior Citizen Fixed Deposit online. Applicants must provide PAN and a valid KYC document, while registered KYC information may also be fetched digitally during application.
Non-resident Indians, Persons of Indian Origin, and Overseas Citizens should contact Bajaj Finance to confirm whether another deposit process exists currently.
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Documents required for senior citizen fixed deposit account
Online applicants generally need fewer physical documents because KYC records can be fetched digitally after identity verification during booking journey completion.
- PAN
- Aadhaar card, passport, driving licence, or voter ID
- Contact and bank account details
- Fixed Deposit application information
- Photograph, if required for offline processing
- Form 121, only when requesting an eligible TDS waiver
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Premature withdrawal of senior citizen fixed deposit
Premature withdrawal is available under defined conditions, but interest payable depends on how long deposit remained invested before closure during tenure.
Withdrawal period Applicable treatment Up to three months Generally unavailable, except specified circumstances Three to six months Permitted without interest After six months before maturity Interest generally reduced by 2% from the applicable rate No specified rate for actual period Interest may be 3% below the lowest offered rate Tiny deposits up to Rs. 10,000 Withdrawal permitted without interest Investors can submit a premature withdrawal request through Bajaj Finance My Account by clicking on invest online and review the applicable interest adjustment before confirming closure.
Check out different FD Rates
Fixed Deposit variants
Get ROI up to
7.75% p.a.
Senior citizen
Starting with just Rs. 15,000
Get ROI up to
7.40% p.a.
Age below 60 years
Starting with just Rs. 15,000
Get ROI up to
7.40% p.a.
Minor
Starting with just Rs. 15,000
Get ROI up to
7.40% p.a.
HUF
Starting with just Rs. 15,000
Get ROI up to
7.40% p.a.
Sole proprietor
Starting with just Rs. 15,000
Locate to your nearest FD branch
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Frequently Asked Questions
Overview
Is the Bajaj Finance Fixed Deposit safe?
Bajaj Finance Fixed Deposit carries CRISIL AAA/STABLE and [ICRA]AAA(Stable) credit ratings, indicating the highest assessed degree of safety regarding timely obligations. These independent ratings reflect the issuer’s assessed capacity to meet financial commitments, but investors should review current ratings before investing carefully.
Is interest in FD taxable for senior citizens?
Yes, FD interest is taxable for senior citizens and is added to their total income. Tax applies according to the chosen tax regime and income slab. Any TDS deducted can be adjusted against the final tax liability when filing the income tax return.
What is the interest rate for Bajaj Finance Senior Citizen Fixed Deposit?
The bajaj finance Senior Citizen Fixed Deposit offers interest rates of up to 7.75% p.a. The applicable rate depends on the chosen tenure and payout frequency, with deposit tenures ranging from 12 to 60 months.
How can senior citizens save tax?
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 7.75% p.a. Under section 80 TTB of the IT act, interest income up to Rs. 5,000 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.
Which scheme is best for senior citizens?
The best scheme for senior citizens depends on individual financial goals, risk tolerance, and preferences. Options like Senior Citizen Savings Scheme (SCSS), senior citizen fixed deposit, or pension plans may suit different needs. It is advisable to research and consult with financial advisors for personalised advice.
How is the taxation done for senior citizens FD?
If the interest earned in a financial year (1st April to 31st March) exceeds Rs. 50,000, TDS is charged at 10%.
What is the difference between fixed deposit and senior citizen fixed deposit?
Unlike regular FDs, the senior citizen fixed deposit comes with special interest rates. Generally, banks offer 0.5% extra interest for elderly customers as compared to regular FD customers.
Who can open a senior citizen fixed deposit account?
A senior citizen fixed deposit (FD) account can be opened by individuals who are 60 years of age or older. Some banks also offer special “super senior citizen” FDs for those aged 80 years and above, providing higher interest rates. The account can be opened in banks, post offices, or NBFCs, subject to submission of KYC documents and required identification.
What is the minimum amount to invest in Bajaj Finance Senior Citizen FD?
The minimum investment amount for a Bajaj Finance Senior Citizen FD typically starts from Rs. 15,000, making it accessible for small investors to begin earning stable returns.
Can senior citizens choose monthly interest payout on Bajaj Finance FD?
Yes, senior citizens can opt for monthly interest payouts in Bajaj Finance FD, along with quarterly, half-yearly, or annual options, ensuring a steady income based on financial needs.
How do Bajaj Finance FD rates compare with other fixed deposits for seniors?
Bajaj Finance offers senior citizen rates up to 7.75% p.a., with an additional benefit of up to 0.35% p.a. Rates vary across institutions, so seniors should compare applicable tenure, payout options, and prevailing rates before investing.
Disclaimer
1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (BAJAJ FINANCE) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.
2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.