Bajaj Finance offers two kinds of fixed deposit, basis the payout frequency:
a. Cumulative fixed deposit: The investment type in which both the interest and the principal amount is paid at maturity (completion of the investment tenure) is called cumulative fixed deposit.
For example, for an investment amount of Rs. 10,00,000 mentioned below are the interest and maturity amount for a customer below 60 years of age for a cumulative fixed deposit.
|
Customer below 60 years of age
|
Senior citizens
|
Tenure
|
Interest rate
|
Interest amount
|
Interest rate
|
Interest amount
|
12 months
|
7.40% p.a.
|
Rs. 73,849
|
7.65% p.a.
|
Rs.
76,344
|
24 months
|
7.80% p.a.
|
Rs. 1,61,912
|
8.20% p.a.
|
Rs. 1,70,543
|
33 months
|
8.10% p.a.
|
Rs. 2,39,685
|
8.35% p.a.
|
Rs. 2,47,631
|
44 months
|
8.25% p.a.
|
Rs.
3,38,229
|
8.50% p.a.
|
Rs. 3,49,651
|
b. Non-cumulative fixed deposit: The investment type in which the principal amount is maturity, however, the interest is paid on a monthly, quarterly, half-yearly, and yearly basis. During investment you have to choose the interest payout frequency for non-cumulative fixed deposit.
For example, for an investment amount of Rs. 10,00,000, made for a tenure of 44 months, mentioned below are the interest and maturity amount for a non-cumulative fixed deposit.
|
Customer below 60 years of age
|
Senior citizens
|
Payout frequency
|
Interest rate
|
Interest amount
|
Interest rate
|
Interest amount
|
Monthly
|
7.95% p.a.
|
Rs. 2,91,483
|
8.19% p.a.
|
Rs.
3,00,282
|
Quarterly
|
8.01% p.a.
|
Rs. 2,93,683
|
8.24% p.a.
|
Rs. 3,02,115
|
Half-yearly
|
8.09% p.a.
|
Rs. 2,96,616
|
8.33% p.a.
|
Rs. 3,05,415
|
Yearly
|
8.25% p.a.
|
Rs. 3,02,482
|
8.50% p.a.
|
Rs.
3,11,648
|