With Bajaj Finance Fixed Deposit investors can open an FD of Rs. 10 lakh for a specified period at predetermined interest rates that do not fluctuate due to economic factors affecting other investments. Once an investor has invested a lump sum in a fixed deposit at the prevailing 10 lakh FD interest rate, it remains the same until maturity, without fluctuation during the entire tenure of fixed. Therefore, FDs ensure investors of attractive returns and the 10 lakh FD continue to grow over time without any interest risk.

• Bajaj Finance FDs offer higher, stable interest rates compared to banks, ensuring secure returns unaffected by market fluctuations.
• Choose tenures from 12-60 months and invest online easily to meet short-term or long-term financial goals.
• Enjoy CRISIL-rated safety, with TDS applied only if annual interest exceeds Rs. 40,000 (Rs. 50,000 for seniors).

Here is the monthly interest that you can anticipate if you invest in a Rs. 10 lakh fixed deposit with a 1-year term and interest rates between 3% and 8.5%.

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.

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.

An investor can avail the following advantages by investing in Bajaj Finance FD:

• Higher interest rate as compared to banks
  The foremost benefit is a higher interest rate as compared to banks that go up to 8.60% p.a. It is an attractive feature as you can earn higher interest on Rs. 10 lakh FD without losing on the safety of funds.
• Secured returns
  Bajaj Finance Fixed Deposit offers you attractive returns at a predetermined interest rate. Once you have created your fixed deposits, the interest rate applicable to your deposit will not be changed until maturity. Bajaj Finance updates its interest rate and provides an FD calculator on its official website so that an investor can know their FD return quickly, even before investing their funds.
• Flexibility
  An investor can invest in FDs as part of the portfolio and choose from the tenure for up to 60 months to multiply the invested funds to achieve the financial goal, whether its wealth accumulation or investing spare funds for a short-term period. Bajaj Finance Fixed Deposit tenure ranges between 12-60 months. You can make deposits with different maturities to ladder your investment.
• Convenient online Investment
  Bajaj Finance allows investors to create fixed deposits from the comfort of their homes. You can invest a significant amount like Rs. 10 lakh FD online.

Thus, fixed deposits can add value to your investment portfolio and provide maximum returns with the right choice of fixed deposit, tenure, and issuer.

TDS will apply if you receive an additional income from a Rs. 10 lakh FD. You must be aware of the following important information regarding tax deductions for FD interest:

• If your total annual returns exceed Rs. 40,000 (or Rs. 50,000 for senior citizens) in banks, or Rs. 5,000 in NBFCs, TDS will be deducted from your FD interest.
• Your interest income will be subject to a 10% tax deduction (or a 20% deduction if your PAN has not been submitted).

Here are some documents required when booking a Rs.10 lakh fixed deposit.

• Proof of Identity: PAN card, Driver’s licence, Passport, Ration card, etc.
• Proof of Address: Utility bills including phone bill, electricity bill, bank statement, etc.
• Proof of Signature: PAN card, Driver’s licence, Passport, etc.

If you are a senior citizen, you need to submit Form 15H to avoid tax deductions

Here is why FDs are a preferred investment option:

Currently, where bank deposits offer interest rates of around 7% p.a., Bajaj Finance Fixed Deposit provide an attractive interest rate of up to 8.60% p.a. The deposits with Bajaj Finance have been rated CRISIL AAA/STABLE and [ICRA]AAA(Stable), which indicates the highest level of safety and lowest investment risk on these deposits. Such stable ratings of Bajaj Finance FD are another reason than interest rates to invest in them.