Fixed Deposit in Medak

Fixed seposit interest rates in Medak.
FD in Medak
4 min
24-May-2024

Nestled in the heart of Telangana, Medak is not only known for its rich history and cultural heritage but also for its growing financial landscape. As the region's economic activities expand, residents and businesses are increasingly seeking reliable investment avenues to secure their financial future. Fixed deposit (FD) has emerged as a popular choice, offering a safe and stable way to grow your savings.

Pro tip

Enjoy higher interest rate with Bajaj Finance Digital FD. Unlock returns of up to 8.85% p.a. by investing for 42 months via our website and app.

Why choose fixed deposits in Medak?

Fixed deposit, are financial instruments offered by banks and financial institutions where you deposit a lump sum for a fixed period at a predetermined interest rate. This investment option has gained traction in Medak due to its numerous benefits:

  1. Guaranteed returns: FDs provide a fixed interest rate for the entire tenure, ensuring predictable returns and eliminating the risk of market fluctuations.
  2. Capital protection: Your principal amount remains secure throughout the investment period, making FDs a low-risk option compared to market-linked investments.
  3. Flexible tenure options: Banks in Medak offer FDs with varying tenures, allowing you to choose the duration that aligns with your financial goals.
  4. Easy accessibility: FDs can be easily opened and managed through online or offline channels, making them convenient for investors of all ages and backgrounds.

Features and benefits of Bajaj Finance fixed deposit

  • High interest rates up to 8.85% p.a.: Bajaj Finance offers competitive interest rates of up to 8.85% p.a., providing some of the most lucrative returns available. This ensures substantial growth of your investment, unaffected by market fluctuation.
  • Increased FD rates for senior citizens: Individuals aged 60 and above benefit from an additional increase in interest rates up to 0.40% p.a., making these fixed deposits especially appealing for senior citizens.
  • Top credit ratings: Bajaj Finance holds esteemed ratings of [ICRA]AAA(Stable) and CRISIL AAA/STABLE, reflecting its high security. These ratings assure that your deposits are secure, offering both peace of mind and robust financial returns.
  • Loan against fixed deposit: Bajaj Finance provides the option to secure a loan against fixed deposit, which means you can access funds without prematurely withdrawing your FD.

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%

Eligibility criteria for booking a Bajaj Finance Fixed Deposit

 

  • Indian resident: (Individual, senior citizen, minor)
  • NRI
  • Business owner/Partner
  • Clubs, association, society, or family trust

 

Documents required

PAN card and any KYC document: Aadhaar card/ Passport/ Driving license/ Voter ID

Conclusion

Fixed deposit provide a safe and convenient way to grow your savings in Medak. With their guaranteed returns, capital protection, and flexibility, FD cater to the needs of risk-averse investors and those seeking stable income. By comparing interest rates, choosing the right tenure, and understanding the terms, you can make informed investment decisions and secure your financial well-being in the vibrant region of Medak.

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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.