How to invest in Bajaj Finance NRI FD?

Follow this guide to invest in a Bajaj Finance NRI FD.
[You can start your online application and resume it later.]

  • Visit our NRI FD online form
  • Enter your name, email ID, country of residence
  • Enter the intended deposit amount, preferred tenor and payout frequency
  • Submit the details, and our representative will get in touch with you
     

Please note that the payment is accepted through cheque or RTGS/NEFT from NRO bank account

NRI Fixed Deposit Interest Rates in India 2021

Annual rate of interest valid for deposits up to Rs.5 crore (w.e.f. 01 Feb 2021)

Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 6.15% 5.98% 6.01% 6.06% 6.15%
24 – 35 6.60% 6.41% 6.44% 6.49% 6.60%
36 7.00% 6.79% 6.82% 6.88% 7.00%
A. Special category benefits on FDs up to 5 Cr (any one of i or ii):
i. Senior citizens – additional rate of 0.25%
ii. Customers opening FD through online mode – additional rate of 0.10%

B. Renewal:
 

0.10% over and above the applicable rate of interest/card rate at the time of renewal of deposit.

In case of online renewal, only one benefit (renewal benefit of 0.10%) will be extended.

NRI - FD FAQ

What is NRI FD?

An NRI fixed deposit is a type of FD account, which allows Indians living abroad to invest through their Non-resident Ordinary (NRO) accounts. This investment option enables NRIs to invest in Indian rupees and enjoy high interest rates applicable on fixed deposits in India, as compared to other major economies.

Can NRIs invest with Bajaj Finance?

Yes, Non-resident Indians (NRIs), Overseas Citizens of India (OCI) and Persons of Indian Origin (PIO) can invest in Bajaj Finance FDs through their Non-resident Ordinary (NRO) account.

What mode of payment is accepted for NRI FD?

Payment is accepted through cheque or RTGS/NEFT from an NRO bank account. Payment through demand draft, debit card, IMPS or UPI is not allowed.

Which NBFC gives the highest interest for NRI?

Bajaj Finance FD offers attractive interest rates of up to 7.25%* for senior citizens and up to 7.10% for non-senior citizens.

Can NRIs take a loan against FD?

No, loan against fixed deposits is not available for NRI/OCI/PIO.

Can NRIs avoid paying double tax?

Yes, you can avoid paying tax on income earned in source country and residence country by claiming benefits under the applicable Double Tax Avoidance Agreement (DTAA)

Is PAN mandatory for NRI fixed deposit?

Yes. As per Securities and Exchange Board of India (SEBI) if any NRI wishes to invest in India, PAN card is mandatory. Once you invest, you will have taxable income in India and that needs to be recorded as per your PAN. Thus, PAN is also applicable for NRI fixed deposits.

Does TDS apply to NRI FD?

Tax Deducted at Source (TDS) is applicable for NRI fixed deposits. However, there are different rules for income tax for NRI fixed deposits.

The following TDS rates are applicable for NRI fixed deposit in India.

If annual interest on deposit is less than Rs.50 lacs If annual interest on deposit is more than Rs.50 lacs, but less than 1 Cr If annual interest on deposit is more than Rs.1 Cr
31.2% 34.32% 35.88%

Can NRI get Aadhar card?

Yes. As per Budget 2019 announcements, NRIs with valid India passports can now apply for Aadhaar cards. They would no longer be required to wait for the mandatory 180 days period as well. The KYC will also be fast-forwarded, and the issuance of this card will expedite financial transactions in India for NRIs.

It is mandatory to quote Aadhar card for filing IT returns in India. Hence, it is important for NRIs to have an Aadhar card to avail the benefits of lucrative investment options. Tax Deducted at Source (TDS) is applicable to NRI deposit schemes. Also, the tax filing might have to be done in India even though they can claim tax benefit under the Double Tax Avoidance Agreement (DTAA).


*Conditions Apply

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