Manage your Fixed Deposit in My Account

Every time you book a fixed deposit with us, you’re assigned a unique string of numbers known as the FD number. Your FD number helps you track details, such as maturity amount, rate of interest, date of maturity and more.

You can check all these FD details and much more by visiting our Service portal with Bajaj Finserv.

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  Steps to check your fixed deposit details

  You can check your FD maturity date, rate of interest, maturity amount and more by following these simple steps:
  

  • Visit our customer portal by clicking the ‘Sign-in’ button.
  • Enter your registered mobile number and submit the OTP.
    
  • Verify your details with your date of birth and proceed.
  • Go to ‘Service’ and click on ‘Relations’
  • Scroll to ‘Deposits’ and select your FD number
  • Find details like an FD number, tenure, rate of interest, etc.

  You can also check your fixed deposit details by clicking on ‘View your FD details’. You’ll be asked to sign-in to your account where you can select FD and find details. The FD details page provides you with information about your deposit such as FD amount, interest amount, start date, maturity date, tenure, payout type, and interest rate.

  Additionally, you can manage various aspects of your FD account, such as FD renewal or premature withdrawal etc.

  You can also access bank account details, loan against fixed deposit details (if applicable), and view documents and statements related to your fixed deposit.

  View your FD details

If you wish to update details of your FD like nominee or bank account, click on the respective links at the top of this page.

When you invest in a fixed deposit, you park your funds to earn interest on them for a pre-defined period of time. Once your FD matures, if you’ve opted for cumulative FD, you’ll receive your invested funds along with the interest accumulated.

However, if you’ve opted for non-cumulative FD, you’ll receive the principal and the interest amount as per your selected payout option.

If you wish to earn more interest on your invested amount to maximise your savings, you can opt for FD renewal. Bajaj Finance Limited offers the flexibility of choosing the renewal plan – the amount you want to reinvest and the tenure. You can renew your fixed deposit up to 24 hours before the maturity date.

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  Renew your fixed deposits in My Account

  You can renew your Bajaj Finance Fixed Deposit in a few clicks by visiting our customer portal – My Account.

  • Visit your account by clicking on the ‘Sign-in’ button on this page.
  • Enter your registered mobile number and submit the OTP to sign-in.
    
  • Verify your details by entering your date of birth.
  • Choose your fixed deposit from ‘My Relations’.
  • Click on the ‘Renew your FD’ option from the ‘Quick Actions’ section.
  • Check your existing FD details and click on ‘Proceed'.
  • Select the details of the renewal plan, such as amount, tenure, and renewal option.
  • Verify your details with the OTP sent to your registered mobile number and proceed with renewal.

  
  You can click on the ‘Renew your fixed deposit’ text below to sign-in to My Account. Then, select your fixed deposit, click on ‘Renew your FD’ from the ‘Quick Actions’ section, choose your renewal plan, and proceed.
  
  If your FD has a joint account holder, then the OTP will be sent to the joint account holder’s registered mobile number as well. However, primary account holder should initiate the renewal request.
  

  Renew your fixed deposit

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  Other ways to renew fixed deposit

  Apart from renewing your fixed deposit (FD) online, there are several other ways to renew it:

  1. Branch visit: Visit your bank branch in person. Speak with a representative, fill out the necessary renewal forms, and provide your existing FD receipt. The bank will process the renewal based on your instructions.

  2. Customer service: Call the bank’s customer service helpline. Verify your identity and provide details of your FD. The representative will guide you through the renewal process over the phone.

  3. Email: Send an email to the bank’s customer service with your FD details and renewal instructions. Ensure you use the registered email ID linked to your account for verification purposes.

  4. Mobile banking app: If your bank offers a mobile banking app, you can use it to renew your FD. Log in, navigate to the Fixed Deposits section, select your FD, and choose the renewal option.

  5. Automatic renewal: Opt for automatic renewal when opening your FD. This ensures the deposit is renewed automatically at maturity under the same terms, unless you specify otherwise.

  These methods provide flexibility and convenience, ensuring your investments continue to earn returns seamlessly

You can renew your fixed deposits to make the most of the prevailing interest rates. Bajaj Finance Limited offers secured returns of up to 8.25%.

When you choose to invest in a fixed deposit, you can also add a nominee. This facility ensures that your FD is easily transferred to your loved ones in the event of your untimely demise.

However, if you don’t add a nominee, claiming the FD amount in the event of your untimely demise becomes difficult. In such a case, your rightful heir(s) may be asked to produce a court order or a succession certificate to claim the FD on maturity.

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  Update nominee details for your fixed deposit

  • Go to our customer portal by clicking on the ‘Sign-in’ button on this page.
  • Sign-in with your registered mobile number and the OTP.
  • Enter your date of birth for verification and proceed.
  • Choose your fixed deposit from “Your relations”.
  • Click on the ‘Add Nominee’ or ‘Edit Nominee’ option below the ‘Nominee Details’ section.
  • Enter your nominee's details, such as name, date of birth, and address. If your nominee is a minor (under the age of 18), you will be asked to provide guardian information.
  • Verify your details with the OTP sent to your registered mobile number.

  You can also update your nominee details by clicking on the ‘Manage your FD nominee details’ text below. Then, select your FD, and click on the ‘Add Nominee’ or ‘Edit Nominee’ option below the ‘Nominee Details’ section. Enter the required details and proceed.

  If your FD has a joint account holder, then the OTP is sent to their registered mobile number as well. However, only the primary accountholder of the FD can initiate renewal changes.

  The role of nominees in fixed deposit accounts

  Nominees in fixed deposit accounts play a crucial role in ensuring that the depositor’s assets are smoothly transferred in the event of their death. The nominee is a person chosen by the account holder to receive the proceeds of the fixed deposit upon the depositor’s demise. This designation is vital as it bypasses the often lengthy legal processes involved in asset transfer, such as obtaining a will or legal heir certificate. By appointing a nominee, the depositor ensures that the funds are quickly and efficiently passed on to their intended recipient. It is important to note that while the nominee receives the funds, they do so as a custodian and may not necessarily be the sole legal heir. Therefore, a nominee’s role is to facilitate the transfer, but the ultimate distribution of assets might still be subject to legal inheritance laws.

  Manage your FD nominee details

You can also view your other FD-related details such as maturity date, rate of interest and more by visiting our customer portal.

When you open a fixed deposit with us, you use a bank account from which you invest money. This bank account, by default, becomes your maturity bank account, which means that once your FD matures, you’ll receive funds in this account.

If there’s any change in your bank account during your FD tenure, you can update the same by raising a request in My Account.

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  Update your maturity bank account details

  • Click on the ‘Sign-in’ button on this page to visit our customer portal.
  • Enter your registered mobile number and the OTP to sign-in.
  • Share your date of birth for verification.
  • Select the FD number from the ‘My Relations’ section.
  • Click on the ‘Update Bank Details’ option below your bank account details.
  • Select the relevant query and sub-query type.
  • Enter any additional details, if required, and submit your request.

  
  You can also directly visit our customer portal by clicking on ‘Update maturity bank account’ below. Once signed-in, you’ll be redirected to the ‘My Relations’ section. You can then select your FD, click on ‘Update Bank Account’ below your bank details section, and proceed to raise a request.
  

  After you submit your request, a representative will contact you within 48 business hours to guide you through the next steps.

  Update maturity bank account

To view and manage your other FD account details, click on any of the links at the top of this page.

TDS or Tax Deducted at Source is a tax that gets deducted from your interest payable. Although a fixed deposit is one of the safest investment options, the interest earned on it is considered part of your income. Therefore, TDS applies to this interest amount.

However, if your total income is below the minimum tax limit, you can declare the same by submitting Form 15G/ H for a TDS waiver. If your age is below 60, you need to submit Form 15G, while if you are above 60, you need to submit Form 15H.

Once you submit this declaration, it will ensure that no TDS is deducted from the interest earned on your deposits.

Bajaj Finance Limited offers you the facility of submitting this declaration online in a few easy steps. You can submit your Form 15G/ H by visiting the service portal.

TDS Meaning and TDS Full Form

TDS stands for Tax Deducted at Source, a mechanism employed in many countries, including India, to collect tax at the origin of income. Under this system, a certain percentage of the payment is deducted by the payer and remitted to the government on behalf of the payee. This ensures a continuous inflow of revenue to the government and helps in reducing tax evasion. TDS is applicable on various types of income such as salaries, interest on bank deposits, and payments to contractors. The deducted amount is then reflected in the payee's annual tax return, and the total tax liability is adjusted accordingly. This method simplifies tax collection and ensures timely compliance, providing both the taxpayer and the tax authorities with a streamlined process for managing and tracking income tax obligations.

What is a TDS Certificate?

A TDS Certificate is an official document issued by the deductor to the deductee, confirming the amount of Tax Deducted at Source (TDS) and subsequently deposited with the government. It serves as proof that the tax has been deducted and credited to the government’s account on behalf of the payee. The certificate includes details such as the deductor’s and deductee’s names, PAN numbers, the amount paid, the amount of TDS deducted, and the TDS payment challan number.

For salaried employees, Form 16 is issued, while for non-salaried individuals, Form 16A is provided. These certificates are essential for the payee while filing income tax returns as they help in claiming the deducted amount against their tax liability. They ensure transparency and accuracy in tax records, facilitating easier verification and reconciliation of tax payments for both the taxpayer and the tax authorities.

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  Submit Form 15G/ H to apply for a TDS waiver

  You can submit your declaration by following these simple steps:

  • Enter your mobile number and submit the OTP to sign-in
  • Verify your details by entering your date of birth.
  • Go to ‘Service’ and click on ‘Relations’ 
  • Select your fixed deposit number 
  • Click on the ‘Submit Form 15G/ H’ option
  • View your Form 15G or Form 15H and click on ‘Proceed’.
  • Enter any additional information that is required.
  • Verify with the OTP you received on your registered mobile number and proceed with submission.

  Click on the ‘Apply for a TDS waiver’ option below to visit our Service portal. Once signed-in, you’ll be redirected to the ‘Relations’ section, where you can select your FD.

  You can then click on the ‘Submit Form 15G/ H’ and proceed with your declaration.

  Apply for a TDS waiver

You can also view your FD documents like receipt, statement of account, and more by clicking on ‘FD receipt’ at the top of this page.

If there’s any financial emergency, instead of withdrawing your FD before its maturity, you can use it as collateral to get a loan. This facility ensures that you get funds at a low-interest rate and don’t lose on your fixed deposit.

The loan amount depends on your fixed deposit amount, while the repayment tenure can last until the FD maturity date. However, you can apply for a loan against fixed deposit, once your deposit completes three months lock-in period. You can apply online for a loan against your fixed deposit by visiting our customer portal – My Account.

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  A step-by-step guide to applying for a loan against FD

  • Click on the ‘Sign-in’ button on this page to visit our customer portal.
  • Enter your registered mobile number and submit the OTP to sign-in.
  • Verify your details by sharing your date of birth and proceed.
  • Select your FD from ‘My Relations’ against which you want to apply for a loan.
  • Click on the ‘Loan against FD’ option in the ‘Quick Actions’ section.
  • Enter the required details and review your bank account details.
  • Verify your details with the OTP sent to your registered mobile number and proceed with the loan agreement and bank details confirmation.

  
  You can also directly visit our customer portal by clicking on ‘Apply for a loan against FD’ below. Once signed-in, you’ll be redirected to the ‘My Relations’ section. You can then select your FD, click on ‘Loan against FD’ within ‘Quick Actions’, enter the required details, and proceed.
  

  Once you complete the application process, you’ll receive the funds within 24 business hours. In case your FD has a joint account holder, they’ll also receive the OTP for verification.
  

  Apply for a loan against FD

You can apply for a LAFD of up to 75% for a cumulative deposit. In case you have a non-cumulative deposit, you can get a loan of up to 60% of your deposit amount.

If there’s any unforeseen expense, you can withdraw the funds that you’ve parked in a fixed deposit before its maturity date. This is called the premature withdrawal of a fixed deposit. However, you can raise a request for premature withdrawal.

Bajaj Finance offers its customers the option of premature withdrawal of FD. The guidelines for the same are:

1. Up to 3 (three) months from date of Deposit: Withdrawal of the Deposit is not permitted. However:
   i. In the event of death of a depositor, the Company may repay the Deposit prematurely (irrespective of the lock in period) to the surviving depositor (which in the case of joint holders will be the first in the sequence of applicants in the Application) or to the nominee/ legal heir(s) of the deceased depositor, upon the request of surviving depositor/s/nominee/legal heir, as the case may be, and subject to submission of proof of death and other requisite documents to the satisfaction of the Company
   ii. In case depositor wants premature withdrawal of his Deposit for expenses of emergent nature including on account of facing any medical emergency or expenses due to natural calamities or disaster, partial prematurity of the deposits is allowed upto lower of 50% of principal or Rs.5 lacs. Expenses of emergent nature are subject to verification/evaluation of case as per BFL policy.
   iii. Premature withdrawal of Deposit Amount on account of suffering on account of Critical illness, 100% of principal amount of Deposit shall be paid to the depositor, without interest. For the purposes of this clause definition of ‘Critical illness’, shall be as per IRDAI (Health Insurance) Regulations, 2016 and the guidelines issued thereunder, as amended from time to time.
   iv. Deposits aggregating not exceeding an amount of Rs.10,000/- of principal amount (“Tiny Deposit”) will be prematurely paid to individual depositor or first named Depositor holding the Deposit in the same capacity in all the Deposits, at the request of the depositor, without interest.
2. After 3 (three) months but before 6 (six) months from the date of the Deposit: Withdrawal of the Deposit will be permitted; however, interest shall not be payable.
3. After 6 (six) months but before the date of maturity of the Deposit: Withdrawal of the Deposit will be permitted. Interest shall be payable at a rate which is 2% lower than the rate specified for the period during which the deposit has been opened. In case no rate is specified for the Deposit period, interest rate payable shall be 3% lower than the lowest rate being offered by the Company.

You can raise a request for premature withdrawal of fixed deposit by logging in to the service portal with Bajaj Finserv.

Additional Read - Fixed Deposit Receipt

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  Apply for premature withdrawal of fixed deposit

  • Click on the ‘Sign-in’ button on this page to visit our service portal.
  • Enter your registered mobile number and submit the OTP to sign-in.
  • Verify your details with your date of birth and proceed to visit our ‘Raise a Request’ section.
  • Go to ‘Service’ and click on ‘Relations’
    
  • Select “Fixed Deposit’, click on ‘Premature withdrawal’
    
  • Check premature withdrawal breakup and click on ‘Proceed’
    
  • Enter the OTP and click on ‘Submit’

  
  You can also directly visit your account by clicking on ‘Apply for a premature withdrawal of FD’ below. Once signed-in, you’ll be redirected to the ‘Raise a Request’ section. You can then select your FD, enter the relevant query and sub-query type, and proceed to submit.
  Once you submit the request, our representative will reach out to you within 48 business hours to guide you on further steps.
  

  Apply for a premature withdrawal of FD
  

In case you need funds for an emergency, you can also apply for a loan against fixed deposit. Click on ‘Loan against FD’ at the top of this page for more details.

If you’ve opted for a Bajaj Finance Fixed Deposit, you need to submit a FATCA (Foreign Account Tax Compliance Act) declaration. However, if you’re a non-resident Indian, it’s mandatory to submit your FATCA declaration form. This is because your tax liabilities will be governed by the country of residence.

You can submit the FATCA declaration online in a few easy steps by visiting our customer portal.

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  Submit your FATCA declaration form online

  You can submit the FATCA form in your account by following these simple steps:

  • You can sign-in to our customer portal by entering your mobile number or email ID and the OTP.
  • Verify your details with your date of birth and proceed.
  • Select the fixed deposit from “Your relations”.
  • Click on the ‘FATCA Form’ option from the ‘Quick Actions’ section.
  • Enter the required information and click on ‘Generate OTP’.
  • Verify your details with the OTP sent to your registered number.

  You can also directly visit our customer portal by clicking on ‘Submit your FATCA declaration’ below. Once signed-in, select your FD, click on ‘FATCA Form’ within ‘Quick Actions’ and proceed. You’ll receive a confirmation message on your screen once you submit the declaration.
  

  Submit your FATCA declaration

You can also submit your Form 15 G/ H and apply for a TDS waiver by visiting our customer portal.

Just like your bank accounts, you can add a joint account holder for your fixed deposit as well. You can update joint account holder details in a few clicks by visiting our customer portal

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  Manage your joint account holder details

  • Click on the ‘Sign-in’ button on this page to visit our customer portal.
  • Enter your registered mobile number submit the OTP to sign-in.
  • Verify your details by entering your date of birth to go to our ‘Raise a Request’ section.
  • Select ‘Fixed Deposit’ as your product and choose the FD number for which you want to update the joint account holder.
  • Choose ‘FD Details’ as your query type and ‘Joint account holder addition’ as your sub-query type.
  • Enter the required details and upload supporting documents if needed.
  • Review your details and proceed to submit the request.

  
  You can also directly visit our customer portal by clicking on ‘Update your joint account holder details’ below. Once signed-in, you will be redirected to the ‘Raise a Request’ section. You can then select your FD, enter the relevant query and sub-query type, and proceed to submit.

  Once you submit the request, our representative will reach out to you within 48 business hours to guide you on further steps.

  Update your joint account holder details

You can also update your nominee and bank account details by visiting our customer portal

Benefits of add joint account holder in fixed deposits

• Shared ownership and access:
  Adding a joint account holder ensures both individuals have equal rights over the fixed deposit. It allows either person to access funds during emergencies without additional approvals or legal hassles.
• Enhanced financial security:
  Joint fixed deposits offer a safety net, particularly for dependents or family members, ensuring seamless access to funds in case of the primary account holder's demise or unavailability.
• Convenient management of funds:
  Having a joint account holder simplifies deposit management. Both holders can operate the account, manage renewals, or make withdrawals based on the terms agreed upon during account setup.
• Nomination flexibility:
  Joint fixed deposits allow you to specify a nominee. This ensures that funds are smoothly passed on to the rightful beneficiary in case of both account holders’ demise.
• Tax benefits under joint ownership:
  Tax liability can be distributed between joint account holders, reducing the burden on one individual. This is particularly advantageous when interest income falls within different tax brackets for the holders.
• Customisable operational modes:
  Joint account holders can choose operational modes like "Either or Survivor" or "Jointly," enabling flexibility in accessing funds based on personal preferences or situations.
• Ease of succession planning:
  Adding a joint account holder simplifies inheritance processes, bypassing lengthy legal formalities and ensuring quick fund transfer to the surviving account holder.
• Stronger creditworthiness:
  In some cases, fixed deposits held jointly can boost creditworthiness for both holders, potentially aiding in availing loans against the deposit.

Considerations for fixed deposits joint account holder

• Mode of operation:
  Decide the mode of operation for the joint account—whether it will be "Either or Survivor" for independent access or "Jointly" for collective decisions.
• Impact on tax liability:
  Both account holders need to understand the implications of shared interest income, as it is taxable under the Income Tax Act and may affect their individual tax brackets.
• Legal ownership in case of death:
  Ensure clarity about fund ownership if one holder passes away. The operational mode determines the rightful claim of the surviving holder.
• Nomination restrictions:
  Only one nominee can be added to a joint fixed deposit. Joint holders should agree upon the nominee to avoid future disputes.
• Document requirements:
  Adding a joint holder requires valid KYC documents for the second individual, including proof of identity, address, and recent photographs.
• Premature withdrawal clauses:
  Check whether joint fixed deposits allow both holders to initiate premature withdrawals or if the consent of both parties is required.
• Risk of financial disputes:
  Joint ownership can sometimes lead to disagreements over the deposit’s usage. Clear communication is essential to avoid conflicts.
• Credit and loan implications:
  Joint fixed deposits may be pledged as collateral for loans, impacting both holders' credit profiles. Discuss these aspects before proceeding.
• Bank-specific policies:
  Different banks may have varying rules for joint fixed deposits. Review terms and conditions to ensure alignment with your financial goals.
• Amendments and changes:
  Any changes to the joint account, such as altering the mode of operation or adding/removing a holder, often require consent from all parties and bank approval.