Fixed Deposit in Murbad

Learn more about fixed deposit interest rates in Murbad
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FD in Murbad
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4 min
26-June-2024

Fixed deposits (FDs) have long been a trusted investment avenue for individuals seeking a safe and stable return on their savings. In India, fixed deposits are popular due to their assured returns, low risk, and ease of access. Murbad, a growing town in the Murbad district of Maharashtra, is no exception to this trend. This article delves into the specifics of fixed deposits in Murbad, exploring their benefits, interest rates, and the process of investing.

Why Choose Fixed Deposits in Murbad?

  1. Safety and Security: Fixed deposits are one of the safest investment options. Banks and NBFCs offering FDs are regulated by the Reserve Bank of India (RBI), ensuring a high level of security for your investments.
  2. Assured Returns: One of the primary benefits of FDs is the guaranteed returns. Unlike equity markets or mutual funds, the returns on FDs are fixed and do not fluctuate with market conditions.
  3. Flexibility: Investors can choose the tenure of their fixed deposit based on their financial goals. Tenures typically range from 7 days to 10 years, offering flexibility to investors.
  4. Ease of Investment: The process of opening a fixed deposit account is straightforward. Many financial institutions offer online services, making it convenient for residents to invest.

Pro tip

Enjoy higher interest rate with Bajaj Finance Digital FD. Unlock returns of up to 8.65% p.a. by investing for 42 months via website and app.

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Features and benefits of Bajaj Finance fixed deposit

  1. Competitive interest rates: Earn up to 8.65% p.a. on your investment, fostering robust growth even during market fluctuations. This competitive rate ensures your money works hard for you, helping you achieve your financial goals.
  2. Senior citizen benefit: Recognising the financial needs of senior citizens, Bajaj Finance offers an additional interest rate increase of up to 0.40% p.a. for individuals aged 60 and above. This benefit can significantly add to the overall return on their FD investment.
  3. High credit ratings: Bajaj Finance holds top safety ratings of [ICRA]AAA(Stable) and CRISIL AAA/STABLE. These ratings indicate a low credit risk, which can be a reassuring factor for investors seeking a secure investment option for their funds.
  4. Loan against fixed deposit: Bajaj Finance offers a feature that allows you to utilize your FD as collateral for a loan. This provides flexibility by letting you access a portion of your invested amount (up to 60% for non-cumulative FD and 75% for cumulative FD) while the remaining principal continues to earn interest.

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. 3 crore (17 Sep, 2024) 

*Experience higher interest rate of up to 8.40% p.a. on a 42-month Digital FD, available exclusively on 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* 8.40% 8.09% 8.15% 8.23% 8.40%

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 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. 3 crore (17 Sep, 2024) 

*Experience higher interest rate of up to 8.40% p.a. on a 42-month Digital FD, available exclusively on 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* 8.40% 8.09% 8.15% 8.23% 8.40%

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%

Eligibility criteria for booking a Bajaj Finance FD

  • Nationality: Resident Indians/ Non-Resident Indians (NRIs).
  • Types of investors: Individuals, Senior Citizens, Minors, Sole Proprietorships, Partnership Firms, HUFs (Hindu Undivided Families), Clubs, Associations, Societies, and Family Trusts.

Documents required fixed deposit

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

Tax implications of fixed deposit

Interest earned on fixed deposits is taxable under the head "Income from Other Sources". Banks deduct TDS (Tax Deducted at Source) at 10% if the interest income exceeds Rs. 40,000 in a financial year (Rs. 50,000 for senior citizens). To avoid TDS deduction, you can submit Form 15G/15H if your total income is below the taxable limit.

Conclusion

Fixed deposits offer a smart way to grow their savings while achieving specific financial goals. By understanding your options, choosing carefully, and maximising returns with strategic planning, you can make FDs a valuable part of your financial journey in this thriving area.

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

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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.