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Bajaj Finance Fixed Deposit: Interest Rates, Types Of FD, Calculator

  • Highlights

  • Gain high returns with Bajaj Finance Fixed Deposit Scheme

  • Bajaj Finance FD interest rate goes up to 8.35%

  • Senior citizens can get 0.25% higher interest rate

  • Choose FD issuers with high safety ratings

Bajaj Finance Fixed Deposit

As a popular investment choice, Bajaj Finance Fixed Deposit is one of the safest investment choices for risk-averse investors seeking safety of the amount invested. Unlike unpredictable market-linked investment options, this FD offers financial stability, as its returns are not affected by market performance.

By investing in a Bajaj Finance Fixed Deposit for a flexible tenor from 12 to 60 months, get guaranteed returns up to 8.35%.

Bajaj Finance Fixed Deposit Interest Rates

Investing in a fixed deposit offering higher FD rates can help you grow your maturity amount easily. Bajaj Finance Fixed Deposit offers one of the highest FD interest rates.

Check the latest FD interest rates below:

Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f 07 December 2019)

For new customers:

Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half-Yearly Annual
12 – 23 25,000 7.60% 7.35% 7.39% 7.46% 7.60%
24 – 35 7.90% 7.63% 7.68% 7.75% 7.90%
36 - 60 8.10% 7.81% 7.87% 7.94% 8.10%

Rate benefits basis customer category (w.e.f 07 December 2019):

+ 0.25% for senior citizens
+ 0.10% for Bajaj Group employees, Bajaj Finance Ltd customers and Bajaj Allianz Life Insurance existing policyholders

Benefits of Bajaj Finance FD

As a company fixed deposit, Bajaj Finance Fixed Deposit offers high returns with safety to all investors. When you deposit a sum of money in this FD for a fixed term, your invested corpus earns interest over time.
Investing in a Bajaj Finance FD can help you reap several benefits. Check them out below:

  • Get guaranteed returns with one of the highest FD interest rates.

  • Choose your tenor, and select the option to gain periodic interest payouts.

  • In case you choose periodic payouts, you can select the frequency of your periodic payouts as per your convenience.

  • With a rating of FAAA by CRISIL and MAAA by ICRA, Bajaj Finance FD has the highest safety ratings, which ensure that your investment is safe, with low risks of delays or defaults.

  • Bajaj Finance FD also offers 0.25% interest rates for senior citizens, so you can preserve your savings in a safe and stable investment option

  • Investing in a Bajaj Finance Fixed Deposit is very easy. Existing FD customers can invest through an online paperless process, wherein you can leverage an entire end-to-end online journey.

  • You can also invest in multiple deposits with different investment amounts, tenors and payout frequencies, with a single transaction. This can help you ladder your investments easily, and ensure higher liquidity. In case of emergencies, if you liquidate one of your deposits, the returns on other deposits remain unaffected.

  • Now, NRIs can also start investing in a Bajaj Finance Fixed Deposit, and get high returns on their investment.

 

You can start investing in a Bajaj Finance Fixed Deposit with just Rs. 25,000 and be a part of their clientele of 1,45,000 happy customers.

How does the Bajaj Finance FD safeguard your interest?

When you invest in a Bajaj Finance Fixed Deposit Scheme, you invest an amount for a specified tenor, during which interest gets accrued to the principal and compounds over time. While several FD issuers offer lucrative interest rates, which compel investors to invest, it is always important to check the safety ratings before investing. In case you ignore FD ratings, there’s a greater likelihood of incurring losses or encountering delays.

To avoid such issues, you must pick an FD with a high safety rating. The higher the ratings, the more credible the FD provider is. Broadly speaking, credit rating agencies such as CRISIL and ICRA provide safety ratings on your investment, which can help investors take an unbiased decision regarding which fixed deposit to invest in.

Bajaj Finance has been awarded with the highest safety ratings on their investment – FAAA by CRISIL and MAAA by ICRA. By investing in Bajaj Finance FD, you can ensure that your investment amount is never at risk. Additionally, it is also the only NBFC in India with an international rating of BBB by S&P Global. It is hence, credited with high stability, and considered as one of the safest investment options.

How to choose between Cumulative and Non-Cumulative Fixed Deposit options?

Bajaj Finance Fixed Deposit offers several features and benefits, which make it one of the most trusted investment options. When investing in Bajaj Finance FD, you can either get your returns at maturity, or you can opt for periodic payouts. When you choose the option to gain interest at maturity, your interest is accumulated over the tenor and you receive the amount only at maturity.

On the other hand, periodic payouts enable you to choose your returns on a periodic basis – with the option to choose between monthly, quarterly, half-yearly or annually. Each of these types have their own benefits. You can pick an option depending on your investment goals and your cash flow needs.

Getting returns at maturity suit the purpose of individuals who are not looking to fund immediate cash requirements or periodic payouts. Similarly periodic payouts could come handy for other purposes like for senior citizens who seek periodic income to fund their regular expenses.

Additional Read: A simple guide to using a Fixed Deposit Calculator

What makes Bajaj Finance Fixed Deposit Scheme a winner?

For those looking to choose the right fixed deposit option to maximise their returns, here’s what makes Bajaj Finance Fixed Deposit the best option:

  • Interest Rate: Bajaj Finance Fixed Deposit offers one of the highest interest rates of up to 8.10% for new customers, which can go up to 8.20% for existing customers and up to 8.35% for senior citizens. When you compare different FD issuers in the market, it is best to choose a lender offering the highest interest rate. Even a minor difference in interest rates will impact your fund’s growth.

  • Trust and safety: With a clientele of more than 1,45,000 happy customers contributing towards a book size of nearly 13000 crores, Bajaj Finance Fixed Deposit is one of the most trusted FD issuers. Nearly 61000 of these customers are senior citizens, who contribute towards a book size of about 3300 crores.

    Bajaj Finance Fixed Deposit also has the highest credibility ratings by CRISIL and ICRA, along with an international rating of BBB from S&P Global. These facts indicate that Bajaj Finance FD Schemes are the most trustworthy and reliable.

    Thus, when investing in a Bajaj Finance FD, you can get high returns and ensure safety of your deposit, with lowest risk of defaults or delays.

  • Hassle-free investment experience: When investing in a fixed deposit, you may not want to encounter several formalities, lengthy paperwork or levy any additional charges. With a Bajaj Finance Fixed Deposit, you can look forward to a hassle-free investment experience, along with the flexibility to choose your tenor and payout frequencies. For existing customers, Bajaj Finance FD also offers the option to enjoy a paperless online journey, wherein you can invest online, within a short span of time.

  • Liquidity: When investing in fixed deposits, liquidity may be a concern, especially in case of emergencies. However, when you invest in a Bajaj Finance Fixed Deposit, you need not worry about liquidity.

    In case of emergencies, you need not liquidate your Bajaj Finance FD, as Bajaj Finserv offers an instant online loan against fixed deposit. With nominal interest rates, minimal paperwork and hassle-free processes, taking a loan against your Bajaj Finance Fixed Deposit is very easy.

    Additionally, in case you’ve invested in multiple FDs with a single cheque, breaking any 1 or more deposits had no impact on your other deposit accounts.

 

Bajaj Finance Fixed Deposit Calculator

The key to understanding which fixed deposit is best for you, is to have access to all the facts and figures. A smart way to do this, is to use a fixed deposit calculator. You have to enter the investment amount, interest rate, and tenor, and choose between cumulative and non-cumulative payouts. Then, the calculator will tell you how much you will have at the end of the investment period in a matter of seconds.

Here’s a look at the different benefits of Bajaj Finance Fixed Deposit Calculator:

  • View your returns: Since the calculator has fields or sliders to adjust the tenor, principal and interest rate, it shows you how your investment’s gains will vary when variables change.

  • Choose the right tenor: By showing the returns at various tenors, it enables you to select the best tenor that matches your expectations with regards to returns.

  • Easy comparison: By using the Bajaj Finance Fixed Deposit Calculator, you can forecast FD returns before investing, in mere seconds. This makes it easier to compare different fixed deposits, so you can pick the most profitable one, as per your needs.

  • Easy to use: Bajaj Finance FD Calculator has a user-friendly interface that makes it easy to use. All you have to do, is to fill in a few details to check the returns you can get.

  • Accuracy: Instead of performing lengthy calculations manually, you can use Bajaj Finance Fixed Deposit Calculator to simplify the process. Get accurate results, which determine your guaranteed returns.

Hence, you can make a smart decision about where to invest, and decide your investment tenor, amount and frequency of interest payouts.

Tax on Bajaj Finance Fixed Deposit Interest

The returns you earn from a fixed deposit are taxable. However, several investors are unaware of the tax rules that govern this investment. It is important to declare your FD under ‘Income from other sources’, which depends on the taxable amount limit, as per your financier.

When you invest a large sum in your FD, your tax is deducted at source (also known as TDS). The interest is taxed at the same rate as your gross income, and could vary between 0% and 30%. In case you do not fall under the tax slab, and are below 60 years of age, you can submit Form 15H, whereas senior citizens who do not fall under the tax slab, can submit Form 15G to avoid paying TDS on income earned from Fixed Deposits.

Bajaj Finance Senior Citizen Fixed Deposit Scheme

For senior citizens looking for an investment that offers stability, along with the option to gain periodic income post-retirement, Bajaj Finance Fixed Deposit is a preferred investment option. You can easily invest your EPF savings and other lump sum amount in Bajaj Finance Fixed Deposit, get 0.25% higher interest rate, along with the flexibility to choose tenor and periodic payouts.

You can choose the frequency of your payouts, from monthly, quarterly, half-yearly to annual. The best part about investing in a Bajaj Finance Fixed Deposit is that you can also determine your returns beforehand, so you don’t need to monitor your investments constantly.

The returns on your Bajaj Finance FD are also not linked to market forces, so the risk is considerably lower, and you can look for several benefits for senior citizens.

Here’s a look at some more benefits offered by Bajaj Finance Fixed Deposit for senior citizens:

  • High stability and credibility: Stability and safety of income is most important for senior citizens. Bajaj Finance’s FDs feature an MAAA rating by ICRA and an FAAA stable rating by CRISIL. This ensures that your investment is in safe hands.

  • Online account management: The online account management service offered by Bajaj Finance lets you manage your fixed deposit easily, from the convenience of your home.

  • Doorstep service: It is tiresome for senior citizens to wait in long queues and complete formalities. But, this shouldn’t deter you from investing in FDs. So, when you opt for Bajaj Finance’s FDs, you have the option to call a representative home and complete the application procedure.

  • Minimal deposit amount:You only need a minimum of Rs.25,000 to start this fixed deposit. How does your FD become a tool for financing?

How does your Bajaj Finance FD become a tool for financing?

In case of emergencies, you can also take a loan against your FD, at a lower interest rate. This enables you to cater to cash flow emergencies, while also ensuring the stability of your investment. You can easily fund your personal expenses with an easy loan against FD, which offers many different benefits, some of which are listed below:

  • It averts the risk of submitting valuable assets as collateral. Hence, you can keep assets like property protected.

  • Loans against FD usually come with easier application formalities since you are submitting your FD as collateral. This means that your loan will be approved faster.

  • If you have opted for periodic returns, the monthly returns can be used to pay a small portion of your loan’s EMI, thus lowering the repayment burden.

  • These loans have lower interest rates since you are submitting some form of collateral.

 

How much money to invest in a Bajaj Finance FD?

How much you should invest in fixed deposits will vary from investor to investor as it depends on your risk appetite. While investors with a good risk appetite might consider investing less money in FDs and more in market securities, investors with a low risk appetite will do just the opposite. Here’s a quick run-through.

  • If you are a conservative investor: If you like to play it safe and invest heavily in low-risk options, invest less in market related securities like mutual funds or equity and more in an FD.

  • If you are a moderate risk investor: If you are a moderate risk investor, you usually like to gain from having a diverse investment portfolio. You try to maintain a 50:50 mix by investing equally in both high-risk and low-risk investments. So, you should consider investing equally in fixed deposits and other instruments.

  • If you are an aggressive investor: If you seek large capital gains in a short or medium term and have a big risk appetite, you are an aggressive investor. So, you must focus more on investment options like equity and mutual funds, and add fixed deposits to your portfolio as a secondary option or safety net.

 

Liquidity with Bajaj Finance Fixed Deposits

Liquidity is an important aspect of any investment option. Liquid FDs enable you to raise money instantly in cases of emergencies. The Bajaj Finance FD features flexible premature withdrawals. This means that no matter what your emergency, you can use the money from your FD. But, some FDs require you to pay hefty charges when you want to exit your deposit prematurely.

By investing in a Bajaj Finance Fixed Deposit, you can safeguard your investment capital and ensure higher growth of your savings. You can also reap the benefits of multi-deposit facility, auto-renewal options and pay through your debit card at FD branches at select locations.

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