How can senior citizens benefit from Bajaj Finance FDs

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How can senior citizens benefit from Bajaj Finance FDs

  • Highlights

  • Higher interest rates for Senior Citizen Fixed Deposit Scheme

  • Easy access to loan against FD for emergencies

  • Simple application process for senior citizens

With Bajaj Finance Fixed Deposits, you needn’t make the choice between safety and great returns! Get one of the highest interest rates across India, along with flexible tenor and minimum documentation.
Bajaj Finance offers special benefits to senior citizens with a Senior Citizen Fixed Deposit Scheme where they can get attractive interests.

What are the various types of fixed deposits offered by Bajaj Finance?

There are two types of fixed deposits:
Cumulative fixed deposit: Here, the interest on your investment is compounded on an annual basis. This is paid to you at the time of maturity along with the principal. This kind of fixed deposit is ideal for investors who are looking for their money to grow at a steady pace and are not looking for regular payouts.

Non-cumulative fixed deposit: In this fixed deposit, the interest that is payable on the principal is handed out regularly. You can choose to receive monthly, quarterly, semi-annual or annual payments. What are the advantages of Bajaj Finance's Fixed Deposits for senior citizens?
1. The tenor for fixed deposits offered by Bajaj Finance ranges from 12–60 months, so you can choose a period based on your financial needs and comfort.
2. What makes the fixed deposit offered by Bajaj Finance unique is its high interest rate. With stable returns for everyone, Bajaj Finance Fixed Deposits enable senior citizens to earn better returns with higher interest rates.
3. The most important benefit of a fixed deposit is that it is not dependent on market fluctuations and is a safe senior citizen investment option. Once you invest your money, it grows steadily. You can safely lock your principal for a fixed period and earn interest without worrying about how the market is functioning.
4. Another advantage of Bajaj Finance's Fixed Deposits is that you can get a loan against it. This helps you get access to funds in case of an unforeseen financial need.
5. Bajaj Finance’s Fixed Deposit has been awarded with ICRA’s MAAA (Stable) Rating and CRISIL’s FAAA/Stable Rating making it extremely safe.
6. You can invest as little as Rs.25,000. There is no upper limit for how much you can invest.
7. You can apply for the fixed deposit online. Additionally, you can also track and manage your fixed deposit through Experia, Bajaj Finance's user-friendly customer portal.
To take a closer look at the features and benefits offered by Bajaj Finance Fixed Deposits, click here.

Additional Read: Top investment schemes for senior citizens to ensure financial stability

Eligibility and documents required

As mentioned, an Indian citizen can apply for a Bajaj Finance Fixed Deposit. If you are applying for Bajaj Finance Senior Citizen Fixed Deposit, you need to be at least 60 years old.
Here are the documents you will need to submit to create an FD account:
a. Filled-out form
b. Passport size photograph

Fixed Deposit Senior Citizen Benefits

c. Certified copy of your identity proof: This includes documents like your passport or voter’s ID
d. Certified copy of your address proof: This includes documents like your electricity or telephone bill
e. Certified copy of your proof of signature: This includes documents like your PAN card, driving license or passport

Bajaj Finance is now offering high rate of interest up to 8.85%*

*For senior citizens, on a cumulative scheme tenor of 36-60 months

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