Fixed Deposit Terms and Conditions

Clicking “Tick Box”, 'Proceed” button and entering OTP on the screen where these terms and conditions (“Terms”) are hyperlinked, constitutes a valid acceptance by the Applicant of the Terms and Conditions of Fixed Deposit contained herein below and creates a binding and enforceable contract.

GENERAL TERMS:

I hereby agree and acknowledge that:

1. I am (a) 18 (eighteen) years of age or older, (b) Sound Mind and (c) I can understand, read and write in English language.

2. Apply to open/renew Fixed Deposit (referred as “Deposit”) with Bajaj Finance Ltd(“Company/BFL”), for an amount as mentioned in the application form or in digital customer journey at Bajaj Finserv App (Collectively referred as “Application Form” or “Application”).

3. I have read and understood the detailed terms and conditions mentioned hereinbelow including the interest rate and other charges, the financials and other statements/particulars/representations furnished by BFL and after careful consideration, I am making the deposit with the BFL at my own risk and volition.

4. BFL is authorized to pay the interest and Deposit amount upon maturity or upon the payment frequency selected by me, as the case may be, using the available online banking payment system, to the bank account stated by me in this Application or into such other bank account as may be instructed by me in writing to BFL during the term of the Deposit.

5. The amount being deposited is not out of borrowed funds or funds acquired by accepting deposits from any other person or through any illegal or wrongful means.

6. The first named depositor mentioned in the application should be treated as the payee for the purpose of deduction of tax, under Section 194 A/195 of the Income Tax Act, 1961, as may be applicable.

7. I undertake to inform BFL timely and in writing, any change in the status of my citizenship, nationality or tax residence.

8. In case of renewal if specific tenure not mentioned, renewal will be done for same term as that of the maturing Fixed Deposit.

9. I agree that in case of joint fixed deposit with a survivorship clause, in the event of death of one of the depositors, BFL shall be discharged by paying the Fixed Deposit proceeds prematurely to the survivor/s on request. I further affirm that the payment of proceeds of such deposits to either one of us represents a valid discharge of the BFL's liability.

10. In the event I am found to be an existing customer of BFL, I authorize BFL to use my existing KYC registered with BFL for present application.

11. CKYC Consent -

A. I hereby authorize BFL to verify/check/obtain/download/upload/update my KYC details from/with the CKYC Registry:

i.    by verifying such details through the CKYCR number (i.e. KYC Identifier/ KYC Number- KIN) provided by me or 

ii.    by furnishing such other details of Applicant, as may be permitted by CKYC Registry or 

iii.    by obtaining such CKYCR number/KIN, through details shared by me for this Application Form

B. I authorize BFL to use, verify, download, exchange, share or part with all information relating to this application to credit bureaus/credit reference agencies, its group companies, financial institutions, Credit Information Companies (‘CIC’), NeSL, NSDL, Central KYC Registry (CERSAI) or any authorized third-party agency as BFL may deem necessary or appropriate for use or processing of the said information and shall not hold BFL or any of its group companies or its/ their agents/representatives) liable for use/sharing of the information as stated above.

C. I hereby consent for receiving information from Central KYC Registry through SMS/Email on  my registered number/email address.

12. Aadhaar Offline Verification Specific Consent (OKYC) - If I opt for OKYC mode, I hereby voluntarily consent and opt for, at my own discretion, to share the XML file containing my Aadhaar information to BFL/ its service providers and CIDR/UIDAI, for the purpose of establishing my identity and verification of the same under UIDAI guidelines or under any applicable law, as may be amended from time to time. Pursuant to the same, I hereby also expressly declare that I have been informed by BFL that:

a. My XML file containing my Aadhaar details will be used for KYC (Know Your Customer) identification, verification and due diligence purpose only, as permitted under applicable law for:

i. being empanelled as a service provider to BFL, and

ii. availing financial facilities/ services from BFL in future, or

iii. commencement of any relationships/arrangement with BFL in future.

b. I understand and acknowledge that the information submitted by me to BFL shall not be used for any other purpose, unless required under any applicable law, guidelines, notification, rules and regulations as may be amended from time to time,

c. During offline verification process, my information such as Name, Photo, Date of Birth, Email ID, Mobile Number, Age, Gender, and address may be verified by BFL basis the Aadhaar details shared by CIDR/UIDAI,

d. I shall share the Share Code or confirm on the auto populated share code, as the case may be for successful XML file download and upload as contemplated under applicable law to complete my offline KYC process by verification of Aadhaar details,

e. Providing the Aadhaar details is not mandatory and there are alternative options for completing my KYC process such as performing physical KYC with submission of officially valid documents in person,

f. I may be required to submit any other officially valid document (OVD)/ Deemed to be OVD in place of Aadhaar;

Further, I expressly provide my consent to BFL for using the Aadhaar details provided by me in the manner as detailed above. I further understand and acknowledge that the records and audit trail of the Aadhaar Offline identification and verification process may be used by BFL for evidentiary purposes, including for submission before courts/tribunals/mediators/arbitrators or to any statutory or regulatory authority and I hereby expressly consent to the same;

13. KYC through Video Customer Identification Process (VCIP) 
If I opt for VCIP Mode, I hereby agree and acknowledge/authorise:

a. That video based KYC validation (Video KYC process ) has been provided as alternate method for establishing my identity with BFL

b. That my KYC will be completed by BFL, through a video based KYC validation (Video KYC process ), in accordance with process provided under the KYC guidelines/directions issued by Reserve Bank of India(“RBI”).

c. All particulars, information and details to be provided by me in relation to Video KYC process represent the true, correct and upto date information of myself in all respects.

d. That Video KYC process shall include but shall not be limited to the following steps being concluded by authorised officer of BFL:

· Capturing my live photograph , along with live GPS co-ordinates (geo-tagging) of the customer undertaking the V-CIP and date time- stamp  where such live photograph is being taken; 

· Permanent Account Number (PAN) is mandatory for onboarding through V-CIP mode and capturing clear image of PAN  card during the V-CIP process. The PAN details will be verified from the verification facility of the issuing authority. 

· If Aadhaar card is permitted to be accepted as a documentary proof under law/regulation, the same will be obtained as contemplated under the prevalent law/regulation

· Video recording of the interaction (for concluding Video KYC) will be stored by BFL in accordance with applicable law/regulation.  

e. I will be required to submit other officially valid document (OVD) / deemed to be OVD’s or such other documents as may be requested by BFL, as part of this Video KYC process;

f. I hereby convey my express consent to BFL for verifying any or all the details/documents so provided by me.

g. To complete the Video KYC process in full within the time stipulated by BFL and in case if I fail to complete the same for any reason whatsoever BFL shall have sole and absolute discretion to reject my Application and/or discontinue the service(s)/product(s) for which such KYC is being mandated.

h. That in case where KYC documents/details submitted by me during Video KYC process does not match with or if there are any discrepancy found therein after validation thereof with the original KYC documents/details updated by me, BFL shall have sole and exclusive right to reject my Application and/or discontinue the service(s)/product(s) for which such KYC is being mandated.

i. That if my Video KYC process could not be completed or if during the said process if I dropped midway due to technical, systematic or server errors/issues or other operational issues in that case I may be permitted to complete Video KYC process or I may be required to complete my KYC compliance by undertaking physical KYC validation process, by BFL and I undertake to complete the same and/or submit physical KYC.
That, BFL does not guarantee continuous accessibility of the applications and  shall not be held liable or responsible in any manner whatsoever in respect of any loss, cost or damage that may be incurred by me due to any technical, systematic or server errors/issues, or any other issue occurred while undertaking Video KYC process, including for reasons which are beyond reasonable control of the BFL.

14. Digilocker Consent
I/We give consent to Bajaj Finance Ltd. for fetching my documents/ details from Digilocker.

15. All particulars, information and details provided/to be provided together with documents submitted/to be submitted to BFL are/shall be true, correct and up to date. I have not withheld any material information that may be required by BFL. I am obliged to keep BFL immediately updated of any change in the information provided by me in the Application Form. In case any information provided by me is found to be false or untrue or misleading or misrepresenting, I am aware that I may be held liable for it.

16. This Application, its contents and the information/details provided by me from time to time as pursuant to my Application, may be submitted to:

a. subsidiaries and affiliates of BFL, any service provider/third party/legal entity with whom BFL may have business relationship and/or in reference to rendering services in connection with the product(s)/services availed by me.

b. to any Regulator, Court, Law enforcement agency, Quasi-Judicial authority etc. on a need basis;

17.    I hereby expressly authorize BFL and its Assigns (group companies/business partners/affiliate/subsidiaries/agents/representatives/empanelled merchants, service provider/permitted assigns and any such third party) to send me communications, including but not limited to promotional communications, regarding fixed deposit, loans, insurance and their respective products and/or services through telephone calls/SMSs/emails/post/bots/bitly etc. I agree and understand that products/services belonging to BFL’s Assigns, are governed by their own set of terms and conditions, which shall be in addition to and not in derogation to the terms and conditions prescribed by BFL herein. I understand that I can at any time opt not to receive any telecommunication. I understand that in case I wish to stop receiving promotional communication from BFL, I need to write an email request to wecare@bajajfinserv.in.

18. I understand that opening of Deposit with the Company may create legal, tax or other financial/ reporting obligations for me under the laws of the country of which I hold citizenship or reside in. I shall be solely responsible for undertaking and fulfilling any obligations that I may have under the laws of such country/ies and shall not hold the Company liable under any circumstance in the event of a default on my part in fulfilling the said obligations. I agree that, as may be required by domestic regulators/ tax authorities the Company may also be required to report, reportable details to CBDT or close or suspend my applications/ contracts

TERMS AND CONDITIONS OF FIXED DEPOSITS:

1. ACCEPTANCE OF DEPOSITS:

i. BFL may accept the Deposit at its sole and absolute discretion and subject to the terms and conditions contained herein.

ii. Where the applicant is a minor, the Company may accept the Application provided the Application is signed by the natural or court appointed guardians of the minor on behalf of the minor and upon submission of such documents as may be required by the Company.

iii. The Company accepts deposits digitally only from resident individuals and not from foreign nationals. The entities incorporated/registered/ constituted in India and carrying business in India are eligible for placing Deposit with BFL through other modes like branches or DSA. In case a non-resident Indian wishes to place an FD with BFL, he cannot invest through any digital mode. He can place FD through BFL’s sales managers, branches or authorised partners

iv. The Company shall accept Deposits subject to the minimum amount of deposit prescribed by the Company under the Application. In the event amount received by the Company for placing Deposit is less than the minimum amount prescribed in this regard, the Company reserves the right to reject the application for placing the Deposit. No interest shall be payable by the Company in relation to such deposits.

v. Deposits shall not be accepted in cash.

vi. The applicant agrees to submit all documents and information as may be required by the Company in relation to the Deposit, in such form and manner as may be prescribed by the Company.

vii. The Company reserves the right to accept or reject any application received for opening or placing the Deposit without assigning any reason whatsoever. The amount in relation to such rejected Application will not earn any interest and the said amount will be refunded as is within 10 (Ten) business days.

2. JOINT DEPOSITS:

i. Application may be made in joint names subject to a maximum of three applicants. The Deposit will be opened in joint names subject to the condition that all the applicants (a) sign the Application in their individual capacities or gives the consent through electronic mode (b) submit KYC and other documents as specified by the Company and (c) meet the eligibility criteria specified by the Company.

ii. No addition or deletion of joint holders can be done in the existing Deposit placed with BFL.

iii. All communications in relation to the Deposit will be addressed in the name of the first applicant appearing in the Application. Any instructions received from the joint holder through mobile number and/or email id registered in the name of such joint holder(while applying for Fixed Deposit), will be binding on such joint holder(s).

iv. All the payments in relation to the Deposit placed in joint names including interest and maturity proceeds, will be made in the name of the first applicant in the Application including for the purpose of deduction of tax at source and any discharge given by such first applicant in respect to any payments made by the Company will be binding on the other joint applicant(s). The proceeds will be transferred to guardian, if the FD is opened in minor's name.

v. Any change in the joint holding of the deposit will only be considered upon receipt of joint written consent of all the deposit holders. In case of any dispute between the joint deposit holders, no change will be made in joint deposit holder details in the FD unless there is any specific direction of court of law.

3. FIXED DEPOSIT RECEIPTS:

i. Electronic Fixed Deposit receipt (“FDR”) will be sent to email id mentioned in the Application Form by depositor(s) by default. In the event customer requests for physical Fixed Deposit Receipts the same will be couriered to the depositor(s) at the address registered with BFL. In case there is any mismatch in data fetched from CKYCR and actual current address or data registered with BFL post booking of deposits, then the depositor will have to update his/her details with BFL

ii. In case of change in KYC documents/status of any of the Applicant, the Applicant shall immediately inform BFL through registered Email ID, registered mobile no, through BFL app or letter regarding the said change and submit the revised KYC documents/ updated status to BFL within 30 days of such change, failing which BFL shall not be held responsible for any consequences, actions, claims, loss due to  the said change in KYC

iii. Deposit(s) are not transferable and non-assignable. Third party lien on deposit is NOT permitted under any circumstance except in favour of the holding/subsidiary and /or Group Companies of BFL.

iv. In the event of loss or destruction or mutilation of an FDR (for any reason) and upon request received by BFL, FDR will be re-issued by BFL in lieu of lost FDR. Notwithstanding the re-issuance of FDR(s), the obligation of BFL is limited to the single FDR only, against which the money has been received by BFL. Under all circumstances, mere re-issuance of FDR(s) by BFL against single deposit of money will not result in duplication of payment or higher liability on the part of BFL. All expenses, if any, incurred in this connection will be borne by the depositor(s).

4. INTEREST:

i. Individual applicants or primary applicants falling under special category of  Senior citizens (i.e. persons more than 60 years of age, subject to provision of proof of age) will be eligible for additional interest at the rate of Up to 0.55% p.a. on Deposit amount of up to ¬3 (three) crore;

ii. Rate of interest for deposits for an amount more than INR ¬3 Crore may vary from the published card rate and will be decided on case to case basis,  subject to  the cap on rate of interest specified by the RBI.

iii. Subject to approval of Application by BFL, interest payable on a Deposit will be calculated from (a) the date of application made through BFL online portal and associate partner portals, where payment gateway/payment aggregator enabled by BFL, is used for making payment by the  Customer; (b) the date of receipt of the funds by BFL where the deposit is placed through associate partner portal and payment gateway/payment aggregator enabled by such associate partners are used; and (c) the date of realization of amount by BFL, where the payment is made by cheque or any other mode.

The dates for interest payments are as follows:

a. In case of non-cumulative Deposits:

1. Monthly interest payments: Last date of month

2. Quarterly interest payments: 31st March, 30th June, 30th September and 31st December

3. Half yearly interest payments: 31st March and 30th September

4. Annual interest payments: 31st March

b. In case of Cumulative Deposits: Date of maturity of the Deposit

c. Interest calculation methodology

1. For the purpose of interest calculation, calendar year is taken to consist of 366 days in a leap year and 365 days in a non-leap year.E.g. FD of Rs. 10 lakhs booked on 15-Apr-2020 for Tenor 1 year @10% per annum Interest from 15-Apr-2020 till 31-12-2020, will be calculated as:10 akhsx10%x261/366 days = Rs.71311 Interest from 01-Jan-2021 till 14-Apr-2021 will be calculated as:10lakhsx10%x104/365 days = Rs. 28493/-

2. In case your maturity payment date falls on a banking holiday, your maturity proceeds will be credited to the bank account registered with us, on the banking holiday

d. Interest for part period (i.e. other than complete month/quarter/half year/year) under Non-Cumulative Deposit Schemes will be calculated from the date of Deposit till the last day of the immediate next interest payment date. If a Deposit is made within a period of 30 (thirty) days prior to any of the interest payment dates, the interest for the part period will be paid on the next interest payment date.

iv. Once the applicant selects the Deposit scheme specified in the Application at the time of opening the Deposit i.e. the scheme, tenor and interest payout frequency, the applicant will not have the option to subsequently revise the Deposit scheme. In the event the scheme is not indicated in the Application received by the Company, the Deposit will suo-moto be opened under cumulative deposit scheme for a period of 60 (sixty) months. In case the applicant opts for non-cumulative deposit option without indicating the interest payout frequency the Application, the Deposit will be treated as placed under the annual interest payout frequency scheme.

v. The interest will be paid through National Electronic Funds Transfer (NEFT)/ Real Time Gross Settlement (RTGS) only. In case of any rejection of such instruction for NEFT / RTGS due to any reason, the Company will dispatch interest cheque, in favour of the first applicant in the Application, within 10 (ten) days of the receipt of intimation by the Company from its bank about such rejection

5. NOMINATION:

i. Nomination facility is available to the individual applicants & sole proprietorship only and not available for other entities. For availing the nomination facility, the applicant(s) is/are required to furnish the nominee details in this application form or applicant will be required to submit a duly filled 'Form DA 1' as prescribed by Reserve Bank of India. The “Form DA 1” is available in the branches of the Company & Company's website at  https://www.bajajfinserv.in/fixed-deposit-terms-and-conditions (“website”). Nomination made by the depositor/applicant(s) in the manner prescribed by the Company, shall be binding on all the joint depositor/applicant(s).

ii. Upon request of the depositor(s), the Company will arrange to send forms for cancellation of nomination (Form DA 2) and variation of nomination (Form DA 3).

6. PAYMENT AND RENEWAL OF DEPOSIT

i. The interest payouts, premature withdrawal proceeds and maturity proceeds(unless it receives any request for renewal within the prescribed period before the date of maturity, will be made in the bank account mentioned in the Application or such other bank account intimated by the deposit holder(s) (jointly, if applicable), in writing, to the Company from time to time by way of NEFT or RTGS. In case of any rejection of such instruction for NEFT / RTGS due to any reason, the Company will dispatch the cheque of such payment in favour of the Depositor in case of single Depositor or in favor of all the Depositors, in case of joint deposit, within 10 (ten) days of the receipt of intimation by the Company from its bank about such rejection .

ii. In the event of death of the sole depositor and/or all the joint depositors, all payment(s) in relation to the Deposit including interest thereon will be made to the nominee appointed by the depositor(s) on production of proof of identity and on execution of such other documents as may be required by the Company in this regard. In absence of nomination, the Deposit amount including interest thereon will be transferred to the legal heirs or legal representatives of the deceased depositor(s), as the case may be, upon submission of Succession Certificate/Letter of Administration/Probate of the Will to the satisfaction of the Company. In the case of joint depositors, the nominee's right to receive the amount of Deposit including interest shall arise only after the death of all the depositors. The nominee, in the event of death of the depositor(s) would receive such amounts in trust for the legal heirs.

iii. The request for renewal of the Deposit signed or consented by all the Deposit holders shall reach BFL either through physical application or through BFL Online Portal at least 24 hours before maturity date of deposit. Renewal of Deposits will be subject to the rate of interest and other terms and conditions prevailing on the date of renewal. FDR of the existing deposit may not be required at the time of renewal of deposits, as it stands null & void post its maturity date.

iv. In case where the depositor has opted for renewal of deposit through Application submitted for opening of Deposit, however, wishes to cancel the renewal request, the cancelation request signed or consented by all the Deposit holders , shall reach the Company at least 24 hours before maturity date of the Deposit.

v. The written request for renewal of Deposit or cancelation of Deposit can be submitted at nearest branch of the Company or sending by post/ courier to the Company or to the independent financial advisors or national distributors empaneled with the Company. No requests shall be accepted post the above-mentioned period

7. PREMATURE WITHDRAWAL:

i. Premature withdrawal is permitted provided the Deposit has completed more than 3 months from the date of issuance. The death claims will be settled in accordance with the terms and conditions applicable to Deposit.

ii. A request form for premature withdrawal will have to be given by depositor(s).

iii. Deposits may be withdrawn prior to the date of maturity subject to the regulations of the RBI in this regard.  The premature withdrawal of Deposit (including death cases) is subject to the following conditions:

a. 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.

b. 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.

c. 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. 

iv. For prematurity, interest rates will be calculated as per tables 1 and 2 on page 1 of this form

v. In case customer requests for prematurity of FD during intervening period e.g. after 23 months but before 24 months, interest penalty will be calculated on rates as applicable for previous month slab

vi. Income tax wherever applicable and deducted at source and remitted to the applicable tax authority by the Company on behalf of the depositor, before premature withdrawal of Deposit(s), shall not be refunded in any circumstance whatsoever.

vii. The prematurity proceeds will be credited in the same bank account as mentioned in the FD application form    or such other bank account registered intimated by the deposit holder in writing to with BFL, subsequently

8. LOAN AGAINST PUBLIC DEPOSIT:

i. 'Loan against the deposit' facility may be provided to depositors against the Deposit(s) placed with the Company, subject to fulfilment by depositor(s) of the eligibility criteria and other conditions, as may be prescribed by the Company in this regard. Loan can be given against deposit only after 3 months from the date of Deposit. The interest rate on such loans shall be 2% higher than the rate of interest provided on the Deposit. The loan amount cannot exceed 75% of Deposit amount. 

ii. In case application for loan against deposit is made through physical application form, then original FDR needs to be submitted to BFL along with the application form. In case the application for loan against deposit is made through online mode, original FDR should be submitted to BFL within 15 days from the date of application.

iii. The loan amount will be credited in the same bank account registered with BFL.

9. OTHER TERMS

i. Income-tax, wherever applicable, will be deducted at source on the Deposit in accordance with Section 194-A of the Income Tax Act, 1961 except where appropriate Certificate/form as prescribed under the Income Tax Act, 1961 (refer to Form 15G/H enclosed with the application form) is furnished to Company's registered office at least 2 (two) months prior to the due date of payment of interest. At present tax is deductible if the aggregate amount of interest paid or payable during the financial year exceeds ¬INR 10,000/- (Rupees ten thousand only). It is the sole responsibility of the applicant to provide the Company with a fresh Form 15G/H for every assessment year. Non-submission of relevant form or submission of incomplete/incorrect form may result in tax deduction and BFL will not be responsible for the same. Applicant can also fill Form 15 G/H through MyAccount section in Bajaj Finserv App/Web login. However, If the aggregate amount of interest paid or payable during the financial year exceeds ¬INR ¬4,00,000 (Rupees four lacs only) for non senior citizens and  ¬INR  12,00,000 (Rupees twelve lacs only) for senior citizens (Age 60 years or above) , then form 15 G/H will not be valid and tax will be deducted and paid to tax authority . The extant tax regulations/guidelines as amended from time to time will be applicable. Form 15G/H submitted with the Application will be applicable for all the deposits made under the same plan during the financial year. For each financial year, Applicant will have to submit separate Form 15G/H.

ii. TDS is applied on aggregate interest income earned by the customer and can be adjusted against interest income of any fixed deposits, which may not be proportionate to interest income on specific fixed deposit. Wherever such adjustment is carried out against cumulative fixed deposit, the interest reinvested is post TDS recovery. Therefore, the maturity amount for re-investment deposits varies to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity. BFL will not be liable to pay interest on the TDS which is deposited with IT department on quarterly basis

iii. TDS is also deducted on unpaid interest accrued at the end of financial year viz. 31st March.

iv. When interest amount is insufficient to recover TDS, the same will be recovered from the principal of the deposit.

v. In the event of cheque bounce, the cheque will be sent back to applicant's address mentioned on the Application within 15 (fifteen) days. For all RTO (Return to Origin) cheque cases, the cheque will be held by the Company until the validity of the instrument, post which said cheque will be destroyed without further notice to the applicant.

vi. In the event of death of any of the joint depositors, any modification in the names of the deposit holders appearing on the FDR and/or change in the bank account where interest and/or maturity proceeds are to be credited, shall be effected only upon submission of a notarized copy of the death certificate in the name of the deceased depositor along with appropriate instruction, to the Company, issued jointly by all the surviving deposit holder(s), in writing, to carry out such modifications.

vii. The Company will send all communications to the deposit holder(s) in electronic form from time to time at the email ID mentioned in the Application and through SMS on the registered mobile number. In case of failure in transmission of such communication, the Company will send physical copy of such communication within 10 (ten) days of such failure of transmission.

viii. Any change in the address, email ID, bank account etc., mentioned in the Application shall be effected by the Company only on the basis of written instruction signed or consented by all the concerned deposit holder(s).

ix. The Company reserves the right to alter, amend or delete any or all the conditions stipulated above or to vary them in special cases or accept Deposits only for such periods as it may decide from time to time and to repay the Deposits prematurely before the date of maturity.

x. The advertisement inviting fixed deposits mentioned in Annexure below shall form part of the Application.

xi. Disputes, if any, arising in connection with the Deposit, will be subject to the exclusive jurisdiction of Courts at Pune.

xii. Requests related to any change in bank details should reach us at least 7 days prior to the interest or maturity payment.

10. HOW TO APPLY

i. Applicant(s) are requested to go through the terms and conditions as mentioned above. These terms and conditions form part of the Application. 

ii. The Application form should be duly filled and signed by the applicant(s). The amount should be deposited by online transfer or by a CTS compliant account payee cheque drawn in favour of ‘ Bajaj Finance Ltd. A/c 00070350006738' clearly stating the deposit amount along with the application number on the rear side of the cheque.

iii. In case of Deposit is being placed through cheque, Application form alongwith the cheque and required documents may be submitted with any of Company's branch or authorised distributors. In case Deposit is being placed through direct credit to the BFL investment account, Application form alongwith copy of bank statement showing debit of funds and other required documents may be submitted with any of Company's branch or authorised distributors For investment through NEFT/RTGS, please use the following details: Beneficiary Name: Bajaj Finance Ltd, Bank acc no.: BFLFD8 (numerical account number is replaced by CMS Collection code – BFLFD8), Account type: current account, Bank Name: HDFC Bank Ltd, IFSC: HDFC0004989, Bank branch: KanjurMarg, Mumbai. Applications can also be made online by visiting HYPERLINK www.bajajfinserv.in/fixed-deposit or any of our affiliated partner websites or apps

iv. For any investment queries or information about our affiliated partner websites, write to us at wecare@bajajfinserv.in or call us on +91 8698010101

v. Introduction of all the applicants is compulsory. Such introduction may be by any one of the following methods:

a. The applicant can also obtain introduction from any other fixed deposit holder with BFL. The said existing depositor will be required to disclose his/her name and fixed deposit receipt number and provide his/her signature, as per specimen signature in BFL records;

b. The applicant can also introduce himself/herself by producing original of any one of the documents (which contains the photograph of the applicant) mentioned in the list of Mandatory and Officially Valid Documents provided in the Application and a recent coloured photograph to BFL for verification. The aforesaid coloured photograph and a copy of such document produced is required to be attached with the Application.

11. IMPORTANT INFORMATION

i. In the event of non-repayment of the Deposit or part thereof as per the terms and conditions of such Deposit, the depositor may approach National Company Law Tribunal, Mumbai Bench at: 6th Floor, Fountain Telecom, Building 1, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra 400001.

ii. In case of any deficiency by the Company in servicing its Deposit, the depositor may approach the National Consumers Disputes Redressal Forum, the State Level Consumers Disputes Redressal Forum or the District Level Consumers Disputes Redressal Forum for relief 

For any queries, visit our website https://www.bajajfinserv.in/reach-us . Select the < Raise a Request > tab and follow the directions to get your query resolved. You may also call BFL Customer Care at 8698010101 or visit our nearest branch. This is not a toll-free number and normal call charges will be applicable.