Fixed Deposit (FD) Interest Rates

We advise you to check the latest FD interest rates before opening an FD.

Bajaj Finance offers attractive FD rates up to 8.85% p.a. for senior citizens and up to 8.60% p.a. for customers below 60 years of age. With an end-to-end online process, now earn profitable returns, and enjoy the benefits of flexible payout. Start investing with just Rs. 15,000 and earn higher returns for a tenure of 12 to 60 months. Bajaj Finance FD is the highest [ICRA]AAA(Stable) and CRISIL AAA/STABLE rated fixed deposit offering high FD rates and the security that the investor’s money is entirely safe and remains unaffected by market conditions.

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 of up to Rs. 5 crore (02 Jan, 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* 8.60% 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.)
15* 7.45% 7.21% 7.25% 7.32% 7.45%
18* 7.40% 7.16% 7.20% 7.27% 7.40%
22* 7.50% 7.25% 7.30% 7.36% 7.50%
30* 7.45% 7.21% 7.25% 7.32% 7.45%
33* 7.75% 7.49% 7.53% 7.61% 7.75%
44* 8.35% 8.05% 8.10% 8.18% 8.35%

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 7.55% 7.30% 7.35% 7.41% 7.55%
25-35 7.35% 7.11% 7.16% 7.22% 7.35%
36 - 60 8.05% 7.77% 7.82% 7.89% 8.05%

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 (02 Jan, 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.)
15* 7.70% 7.44% 7.49% 7.56% 7.70%
18* 7.65% 7.39% 7.44% 7.51% 7.65%
22* 7.75% 7.49% 7.53% 7.61% 7.75%
30* 7.70% 7.44% 7.49% 7.56% 7.70%
33* 8.00% 7.72% 7.77% 7.85% 8.00%
44* 8.60% 8.28% 8.34% 8.42% 8.60%

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 7.80% 7.53% 7.58% 7.65% 7.80%
25 - 35 7.60% 7.35% 7.39% 7.46% 7.60%
36 - 60 8.30% 8.00% 8.05% 8.13% 8.30%

Fixed Deposit yield table

The term "yield" describes the profits produced and realised on an investment over a specific time frame. It is shown as a percentage based on the amount invested, the security's current market value, or its face value. The interest earned by customers on the investment is also included in the yield.
Maturity = Principal[(1+interest rate /interest frequency)^(frequency x no of years)]
Yield = [(Maturity-principal)/principal]/no of years]

Yield table for customers below 60 years of age
On an investment of Rs. 15,000, the yield for different tenures is mentioned below:

Period (in months) Minimum amount (Rs.) FD rates 02 Jan, 2024 (p.a.) Yield 02 Jan, 2024 (p.a.) Payable amount (Rs.)
12 15,000 7.40% 7.40% 16,110
15 15,000 7.45% 7.52% 16,410
18 15,000 7.40% 7.54% 16,695
22 15,000 7.50% 7.73% 17,127
24 15,000 7.55% 7.84% 17,351
25 15,000 7.35% 7.64% 17,389
30 15,000 7.45% 7.87% 17,952
33 15,000 7.75% 8.29% 18,418
36 15,000 8.05% 8.72% 18,922
42 15,000 8.60% 9.56% 20,021
44 15,000 8.35% 9.32% 20,128
60 15,000 8.05% 9.45% 22,091

Yield table for senior citizens (customers above 60 years of age)

Period (in months) Minimum amount (Rs.) FD rates 02 Jan, 2024 (p.a.) Yield 02 Jan, 2024 (p.a.) Payable amount (Rs.)
12 15,000 7.65% 7.65% 16,148
15 15,000 7.70% 7.77% 16,457
18 15,000 7.65% 7.79% 16,754
22 15,000 7.75% 8.00% 17,200
24 15,000 7.80% 8.10% 17,431
25 15,000 7.60% 7.91% 17,473
30 15,000 7.70% 8.15% 18,056
33 15,000 8.00% 8.57% 18,536
36 15,000 8.30% 9.01% 19,054
42 15,000 8.85% 9.87% 20,183
44 15,000 8.60% 9.63% 20,299
60 15,000 8.30% 9.80% 22,348

How to invest in a fixed deposit?

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A step-by-step guide to invest in a fixed deposit

1. Click on ‘Open FD' at the top of this page to open our online application form.
2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
3. Fill in the investment amount, choose the investment tenure and the payout frequency. Enter your PAN card and date of birth.
4. Complete your KYC: If you are an existing customer, confirm the details available with us, or edit to make any changes. For new customers, complete your KYC using Aadhaar.
5. A declaration will be displayed. Please read it carefully and agree to the terms and conditions. Enter your bank details and proceed to pay.
6. Complete your investment using NetBanking/ UPI or NEFT/ RTGS.

Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) on your registered email address and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will also be sent to your email ID within 3 working days (subject to documents being in the correct order).

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Frequently asked questions

Can I get monthly interest on my fixed deposit?

Yes, you can always choose periodic interest payouts and opt for monthly interest on your Fixed Deposit. To calculate the monthly fixed deposit interest amount, you can use FD interest calculator.

Is FD interest earned taxable?

Yes, the fixed deposit interest is fully taxable. The interest you earn is added to your total income and taxed at slab rates applicable to your total income. Your income tax return is shown under 'Income from Other Sources’. In addition to income tax, banks and companies also deduct TDS from your interest income. You can also check your TDS on FD interest.

What is the interest rate applicable for fixed deposits?

When investing in a fixed deposit for a specific tenure, you gain returns on your deposit based on the latest fixed deposit rates offered by your FD issuer. The current fixed deposit rates are low, but you can get the dual benefit of safety and high returns with a Bajaj Finance Fixed Deposit with the latest FD.

Bajaj Finance Fixed Deposit offers the highest FD rates on investment for a tenure of 42 months.

How to choose the best FD scheme with high fixed deposit rates?

Choosing the right scheme for the best fixed deposit rates is essential, based on your requirement. You have the option to get your interest at the end of your maturity period or opt for periodic payout options. If you'd like to tend to your regular expenses, you can choose the option of periodic payouts, but if you'd like a lump sum amount at the end of your tenure, you can choose to get your fixed deposit interest at the end of your tenure.
Some investors also consider the current FD rates when planning to invest. While this may be a great way to grow your savings, it is also essential to make sure your NBFC FD has the highest safety ratings so that your principal amount is not at risk.

How much interest will I get in 5 years?

With Bajaj Finance you can invest for a tenure of 12-60 months. The highest FD rates are offered for a tenure of 42 months, which is 8.85% p.a. for senior citizens and 8.60% p.a. for customers below 60 years of age.

You can use the FD calculator to know the FD interest earned on your investment.

Which is the best interest rates on FD for senior citizens?

Bajaj Finance offers one of the best FD rates for senior citizens. The FD rates can go up to 8.85% p.a. for a tenure of 42 months.

What is FD rate now?

FD rates can change with time depending on various factors such as market conditions, inflation, the RBI's monetary policy, and more. Financial institutions may increase or decrease their FD rates to attract or retain customers, adjust to market conditions, or manage their liquidity position. The duration of the FD may also affect the interest rate, with longer-term deposits typically offering higher rates.
Check the latest FD rates of Bajaj Finance 02 Jan, 2024.

What are the Fixed Deposit Interest Rates in 2024?

The fixed deposit rates can vary for different banks and NBFCs. The interest rate for Bajaj Finance Fixed Deposit ranges from 7.11% p.a. to 8.60% p.a. for customers below the age of 60. The FD rate for senior citizens ranges from 7.35% p.a. to 8.85% p.a.

What is the current FD rate of Bajaj Finance?

With effect from 02 Jan, 2024, the FD rates offered by Bajaj Finance are up to 8.85% p.a. for senior citizens and up to 8.60% p.a. for customers below the age of 60.

Does Bajaj Finance offer any FDs for senior citizens?

Yes, Bajaj Finance offers senior citizen FD which has an extra up to 0.25% p.a. p.a. interest payout than the regular rates. These FDs come with flexible payouts and special tenures to facilitate regular income for the elderly and to get the best return on their investments. The highest rate for Bajaj Finance senior citizen FD is up to 8.85% p.a. for a special tenure of 42 months.

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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.