Fixed Deposit in Mumbai

Benefits of fixed deposits for stable savings and guaranteed returns.
FD in Mumbai
4 min
25-May-2024

Mumbai, India's financial capital, is a bustling hub for investments of all kinds. If you're looking for a secure and reliable way to grow your savings in this dynamic city, fixed deposits (FD) are a popular choice. FD offer guaranteed returns, making them ideal for risk-averse investors seeking stability.

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?

Fixed deposits are a favored investment avenue in due to several compelling reasons:

  • Guaranteed returns: FDs provide a predetermined interest rate, ensuring your returns are secure and predictable, regardless of market fluctuations.
  • Flexibility: You can choose from various tenure options to align your investment with your financial goals, ranging from short-term savings to long-term financial planning.
  • Safety: FD are considered low-risk investments, as they are not directly affected by stock market volatility.
  • Easy liquidity: In case of emergencies, you can typically withdraw your FD amount prematurely, albeit with some penalties.

Features and benefits of Bajaj Finance Fixed Deposit

  1. Attractive returns up to 8.85% p.a.
    Bajaj Finance offers fixed deposit interest rates up to 8.60% p.a. for customers below 60 years of age, and up to 8.85% p.a. for senior citizens. These competitive rates provide an opportunity for stable investment growth, regardless of market fluctuations.
  2. Enhanced returns with special tenures
    Bajaj Finance goes beyond standard tenure options, offering select investment periods like 18, 22, 33, 42 and 44 months that come with even higher interest rates. This allows you to tailor your fixed deposit to your financial goals while maximising potential returns.
  3. Highest credit ratings
    Bajaj Finance fixed deposit carry the highest credit ratings of [ICRA]AAA(Stable) and CRISIL AAA/STABLE. These ratings signify the institution's robust financial stability and underscore its unwavering commitment to safeguarding your deposits.
  4. Loan against fixed deposit
    Bajaj Finance understands that unexpected financial needs may arise. To cater to such situations, they offer loan against your fixed deposit. This can help you to access funds without having to prematurely break your investment. Loan amounts can go up to 60% of the deposit for non-cumulative FD and up to 75% for cumulative FD, providing a flexible financial safety net while your investment continues to grow.

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

  • Nationality: Resident Indians/ Non-Resident Indians (NRIs).
  • Investor type: Individuals, senior citizens, minors, sole proprietorships, partnership firms, HUFs (Hindu Undivided Families), clubs, associations, societies, and family trusts.

Documents required

  • PAN card
  • Any KYC document: Aadhaar card/ Passport/ Driving license/ Voter ID

How to choose the fixed deposit

When selecting a fixed deposit, consider the following factors:

  • Interest rates: Compare interest rates offered by different banks and NBFCs to maximise your returns.
  • Tenure options: Choose a tenure that aligns with your financial goals and liquidity needs.
  • Credibility of the financial institution: Opt for reputable banks or NBFCs with a strong track record.
  • Additional features: Some financial institution offer features like premature withdrawal, loan against FD, etc. Assess these based on your requirements.
  • Customer service: Choose a financial institution with excellent customer service for a hassle-free experience.

Calculate your expected investment returns with the help of our investment calculators

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Bajaj Finserv App for All Your Financial Needs and Goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

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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.