Get the best FD rates for 1 year

Read on to know more about the 1-year FD with Bajaj Finance and the applicable interest rates.
FD rates for 1 year
3 mins
27 April 2024

Those who foresee funding a financial goal in the future can start saving and investing in financial instruments that assure capital safety. The fixed deposit(FD) is one such tool. These tools not only keep your capital safe but also enable growth. The only apprehension is that these fixed-income instruments have lower interest rates. However, Bajaj Finance is one such financier that provides one of the highest one year FD rates. Fixed deposits offered by Bajaj Finance are good investment options in the long run and great for short-term investments.
If you have a short-term financial goal that requires a sizeable chunk of money, keeping your corpus in a savings account will not help much. Instead, you can invest in an FD for one year. It will keep the money safe and help you grow your savings at the best FD rates for one year, i.e., a higher rate than savings accounts. If you are looking to pay an apartment or car down payment in a year or plan to travel abroad in a year. You will need a significant chunk of money and investing in a Bajaj Finance Fixed Deposit will help you achieve it seamlessly. Bajaj Finance offers one of the highest one-year fixed deposit interest rates for one year.

Bajaj Finance FD offers fixed deposit interest rates up to 8.60% p.a. for non-senior citizens. Senior citizens can earn up to 8.85% p.a. They get an additional rate benefit of up to 0.40% p.a. on their deposits. The interest rates applicable to deposits made up to Rs. 5 crore are below.

FD rates for customers below the age of 60

Fixed Deposit annualised rate of interest for customers below the age of 60 is valid for deposit up to Rs. 5 crore (03 Apr, 2024) 

*Experience higher interest rate of up to 8.50% p.a. on a 42-month Digital FD, available exclusively on our website and app.

Bajaj Finance Digital FD

New Product Launch
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
42* 8.60% 8.28% 8.34% 8.42% 8.60%

Customers below the age of 60 – Special Period

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
18* 7.80% 7.53% 7.58% 7.65% 7.80%
22* 7.90% 7.63% 7.68% 7.75% 7.90%
33* 8.10% 7.81% 7.87% 7.94% 8.10%
44* 8.25% 7.95% 8.01% 8.09% 8.25%

Customers below the age of 60 – Regular Period

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
12 - 14 7.40% 7.16% 7.20% 7.27% 7.40%
15 - 23 7.50% 7.25% 7.30% 7.36% 7.50%
24 - 35 7.80% 7.53% 7.58% 7.65% 7.80%
36 - 60 8.10% 7.81% 7.87% 7.94% 8.10%

FD rates for customers above the age of 60

Fixed Deposit Annualized rate of interest for senior citizens valid for deposit of up to Rs. 5 crore (03 Apr, 2024)

Bajaj Finance Digital FD

New Product Launch
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
42* 8.85% 8.51% 8.57% 8.66% 8.85%

Senior Citizen – Special Period

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
18* 8.05% 7.77% 7.82% 7.89% 8.05%
22* 8.15% 7.86% 7.91% 7.99% 8.15%
33* 8.35% 8.05% 8.10% 8.18% 8.35%
44* 8.50% 8.19% 8.24% 8.33% 8.50%

Senior Citizen – Regular Period

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
12 - 14 7.65% 7.39% 7.44% 7.51% 7.65%
15 - 23 7.75% 7.49% 7.53% 7.61% 7.75%
24 - 35 8.20% 7.91% 7.96% 8.04% 8.20%
36 - 60 8.35% 8.05% 8.10% 8.18% 8.35%

As the tables suggest, you can get one of the best FD rates for one year.
If a citizen aged below 60 chooses to invest Rs. 5,00,000 in a one year FD with Bajaj Finance, they can get up to Rs. 5,36,924 at maturity. Similarly, if a senior citizen invests in an FD for one year, they can get a generous sum of Rs. 5,38,172 at the end of the tenure.
The interest rates for a one-year FD are better compared to 1-year recurring deposit (RD) interest rates. Apart from the interest rates, there are a few more reasons to invest in this instrument for a short tenure.
You can calculate the interest returns with the help of Fixed Deposit interest calculator.

Features and benefits of 1-year FD

  • Minimum deposit starting from Rs. 15,000.
  • Higher FD rates for special tenure of 18, 22, 33, 42 and 44 months.
  • Highest credit rating of [ICRA]AAA(Stable) and CRISIL AAA/STABLE ratings.
  • Additional rate benefit of up to 0.40% p.a.
  • Flexible interest payout
  • End-to-end online process

To get the highest FD rates for 1 year, choose to invest in an FD with Bajaj Finance.

Why to Invest in a 1-year tenure FD?

There are several reasons why someone might choose to invest in a 1-year tenure-fixed deposit (FD):

  • Safety: Fixed deposits are considered a safe investment option as they offer a profitable return on investment. As they are not market-linked, the risk involved is low. Moreover, the principal amount invested is safe, and there is no chance of capital loss.
  • Steady returns: FD offers a fixed interest rate, which is usually higher than the savings account interest rate. This means that investors can earn a steady and predictable return on their investment without any fluctuations.
  • Liquidity: 1-year tenure FDs offer relatively quick access to funds in case of emergencies. Although premature withdrawal may come with a penalty, it is still a better option than breaking long-term investments, which may come with more significant penalties.
  • Diversification: 1-year FDs are an excellent way to diversify one's investment portfolio. It is a low-risk investment option that can help balance a portfolio that may have higher risk investments.

Overall, a 1-year tenure FD can be a good investment option for those looking for steady and safe returns on their investment, along with some tax benefits. However, it is essential to evaluate the interest rates offered by various banks and choose the one that offers the best rate.

Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.