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In summary
Senior citizen Fixed Deposits offer defined interest rates, flexible payout options, multiple tenure choices, and features that can support regular retirement income and liquidity needs.
- Senior citizens earn up to 8.15% p.a. when interest is paid at maturity, and up to 7.86% p.a. with monthly payouts, on tenures of 31 to 60 months.
- 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
- Choose a monthly or quarterly payout if you need regular income, and the at-maturity option if you want the highest return.
- 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.
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 0.40% 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.
Key features of senior citizen fixed deposit
Avoid these mistakes while booking FD
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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 8.15% p.a. Additional interest Up to 0.40% p.a. Tenure range 12 to 60 months Minimum investment Rs. 15,000 Maximum investment Rs. 3 crore 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
FD rates for customer above the age of 60
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 0.40% p.a. above rates for customers below sixty years.
Fixed deposit schemes for senior citizens
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 8.15% |
| Additional senior citizen benefit | Up to0.40% 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 |
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 w.e.f 07 October, 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 | 7.20% | 6.97% | 7.01% | 7.08% | 7.20% |
| 18–30 months | 7.40% | 7.16% | 7.20% | 7.27% | 7.40% |
| 31–60 months | 8.15% | 7.86% | 7.91% | 7.99% | 8.15% |
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
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 0.40% 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
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.
The senior citizen rate applies to resident Indians only. NRIs can invest through the and should check the rates and documents for that scheme.
Documents required for senior citizen fixed deposit account
If you apply online, your KYC details can be fetched digitally, so you usually need only your PAN, Aadhaar and bank account details.
- 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
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.
How to open a senior citizen FD online
1. Click "Open FD" on this page or open the Bajaj Finance app.
2. Enter your mobile number and date of birth, and verify with the OTP. The senior citizen rate applies automatically if you are 60 or above.
3. Enter the amount, choose a tenure and select a payout option.
4. Complete KYC with your PAN and Aadhaar.
5. Add a nominee and pay through net banking or UPI.
6. Download your FD receipt from Bajaj Finance customer portal, “Service”
Check out different FD Rates
Fixed Deposit variants
Get ROI up to
8.15% p.a.
Senior citizen
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Age below 60 years
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Minor
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
HUF
Starting with just Rs. 15,000
Get ROI up to
7.75% 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?
As an NBFC deposit, it is not covered by DICGC deposit insurance, which applies to bank deposits up to Rs. 5 lakh. Its safety rests on Bajaj Finance’s credit strength, reflected in its AAA ratings.
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 8.15% 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?
FD interest from Bajaj Finance is fully taxable. If your total income is below the taxable limit, submit Form 121 at the start of the tax year so that no TDS is deducted. Under the old tax regime, senior citizens can claim a deduction of up to Rs. 50,000 on interest from bank, co-operative bank and post office deposits, and investments such as SCSS qualify for a deduction of up to Rs. 1.5 lakh.
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?
Bajaj Finance deducts TDS at 10% (with PAN) when your FD interest crosses Rs. 10,000 in a tax year. The Rs. 1 lakh limit for senior citizens applies only to bank, co-operative bank and post office deposits. You can submit Form 121 to avoid TDS if your total tax is nil.
What is the difference between fixed deposit and senior citizen fixed deposit?
A senior citizen FD is the same product with a higher rate for depositors aged 60 and above. Bajaj Finance offers senior citizens up to 0.40% p.a. more than customers below 60; many banks offer about 0.50% p.a. more.
Who can open a senior citizen fixed deposit account?
Resident Indians aged 60 or above can open a Bajaj Finance senior citizen FD. [Bajaj Finance does not offer a separate super senior citizen rate for those aged 80 and above.]
What is the minimum amount to invest in Bajaj Finance Senior Citizen FD?
The minimum investment amount for a Bajaj Finance Senior Citizen FD You can invest from Rs. 15,000 up to Rs. 3 crore., 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 8.15% 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.
How much monthly interest will I get on Rs. 10 lakh?
At 7.86% p.a. on a 31 to 60 month FD with monthly payouts, Rs. 10 lakh earns about Rs. 6,550 a month before tax.
Is a Bajaj Finance FD covered by DICGC insurance?
No. DICGC insurance covers bank deposits only. Bajaj Finance FDs are rated CRISIL AAA/STABLE and [ICRA]AAA(Stable), the highest ratings for safety of timely payment.
Do I need to submit Form 121 every year?
Yes. Submit Form 121 at the start of each tax year if your total tax is nil. It replaced Form 15H from 1 April 2026, so a Form 15H given earlier does not carry forward.
Does the senior citizen rate apply to a joint FD?
[The senior citizen rate applies when the first applicant is aged 60 or above.]
What happens when my senior citizen FD matures?
The maturity amount is credited to your registered bank account, or the FD is renewed if you chose auto-renewal. The renewed deposit earns the rate applicable on the renewal date.
Can I get a loan against my senior citizen FD?
Yes. You can borrow up to 75% of a cumulative FD’s value and 60% of a non-cumulative FD’s value, so you do not have to break the deposit.
Disclaimer
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