Fixed Deposit Interest Rate (w.e.f. 10 Jul 2017)
|Tenor in months||Cumulative||Non-cumulative|
|12 – 23||7.60%||7.35%||7.39%||7.46%||7.60%|
|24 – 35||7.80%||7.53%||7.58%||7.65%||7.80%|
|36 – 60||7.85%||7.58%||7.63%||7.70%||7.85%|
How to Get the Best Rates On Your FD Investment?
A Fixed Deposit investment of 36 months and above can get you the best interest rates from us.
High interest rate for all:
A rate of 7.85% is offered when you invest in a fixed deposit between 3 to 5 years (36 to 60 months), giving you a safe, reliable and beneficial way to invest and grow your savings.
Special rates for senior citizens—additional 0.25%:
A rate of 8.10% is offered to individuals more than 60 years of age (age proof required) up to a deposit of Rs.1 crore.
Bajaj group employees—additional 0.10%:
A rate of 7.95% is offered to Bajaj group employees (Bajaj Auto Ltd., Bajaj Finance Ltd., Bajaj Holdings & Investment Ltd., Bajaj Electricals Ltd., Bajaj Allianz Life Insurance Company Ltd, Bajaj Allianz General Insurance Company Ltd., Maharashtra Scooters Ltd. and Mukand Ltd.)
Existing loan customer—additional 0.10%:
A rate of 7.95% is offered to our existing loan customers for a deposit size up to Rs.1 crore.
Benefits on renewal:
Additional 0.10% on renewal of your existing Fixed Deposit from Bajaj Finance over & above card rate.
A rate of 8.20% is offered to senior citizen customers on Fixed Deposit renewal.
A rate of 8.05% is offered to Bajaj group employees and Bajaj Finance existing loan customers on renewal.
Cumulative FD Vs. Non-Cumulative FD: A Comparison:
Bajaj Finance offers two type of FDs based on when the interest is paid out:
This FD scheme offers investors the interest payable at the time when the FD matures.
This FD scheme offers investors interest on a monthly, quarterly, half-yearly or annual basis.
Advantage of a Cumulative FD:
Helps you build a corpus by adding the principal amount invested and the interest over your selected tenure, payable at the time when your FD matures. This may be a minimum of 12 months or go up to 60 months.
Advantage of a Non-Cumulative FD:
Helps you earn interest at regular intervals, thus adding to your income. You may choose the time period during your tenure application, which may be monthly, quarterly, half-yearly or annually.
Here’s how the interest amount will change when you choose a Cumulative vs. a Non-Cumulative FD:
|Tenure||5 years||5 years|
|Interest earned||Rs.4, 59, 153||Rs.3, 79, 000|
|Maturity amount||Rs.14, 59, 153||Rs.13, 79, 000|