SYSTEMATIC DEPOSIT PLAN (SDP) TERMS AND CONDITIONS

Clicking “Tick Box” or 'Proceed” or similar button and or 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 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. I hereby apply to open fixed deposit (referred as Deposit or Deposit(s))  under Systematic Deposit Plan (referred as “ SDP”) with Bajaj Finance Ltd (“Company/BFL”), for an amount as mentioned in the application form or in digital customer journey at https://www.bajajfinserv.in/fixed-deposit-application-form?ProductName=SDP or any other web portal or mobile applications of Bajaj Finance Ltd or  of associate partner 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 under SDP with 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 SDP.

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 194A / 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 is not mentioned, then the renewal will be done for the same term as that of the maturing Deposit under the SDP subject to the terms mentioned below.

9. I agree that in case of joint 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, there is no change in my existing KYC and, I authorize BFL to use my existing KYC registered with BFL for this 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 CKYC 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 CKYC number/KIN, through details shared by me for this Application Form

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

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.

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 current 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 shared 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 self attested certified copies of officially valid documents in person,

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

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 based Customer Identification Process (V-CIP):

If I opt for V-CIP 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 process will be completed by BFL, through Video KYC process, in accordance with  the Master Direction-Know Your Customer (KYC) Direction, 2016, issued by Reserve Bank of India (“RBI”) as amended from time to time.

c)   All particulars, information and details to be provided by me in relation to this 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 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 prescribed time and in case if I fail to complete the same for any reason whatsoever BFL shall have sole and absolute discretion to reject my loan/product application(s) and/or discontinue the service(s)/product(s) for which such KYC is 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 loan/product application(s) and/or discontinue the service(s)/product(s) for which such KYC is 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 SYSTEMATIC DEPOSIT PLAN (SDP):

1. ACCEPTANCE OF DEPOSITS:

(i) BFL may accept the Deposit under the Systematic Deposit Plan (SDP selected by the Applicant at its sole and absolute discretion and subject to the terms and conditions contained herein.

(ii) Where the Applicant is a minor, BFL may accept the Application provided that the Application is signed or consented 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 BFL.

(iii) The Company accepts deposits digitally only from resident individuals. 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.

(iv) The Company offers SDP to only Indian residents and does not accept deposits under Systematic Deposit Plan from foreign nationals, Person of Indian Origin, Overseas Citizen of India (OCIs) and Non-Resident Indians (NRIs).

(v) The Company shall accept Deposits subject to the minimum amount of deposit prescribed by the Company under the SDP Scheme. The Company reserves the right to accept or reject the application for placing the Deposit without assigning any reason whatsoever. The amount in relation to such rejected application will not earn any interest and the Company will endeavor to refund the said amount positively within 10 (Ten) business days.

(vi) Deposits shall not be accepted in cash or transfer from NRO/NRE Account.

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

(viii) Under Plan 1 i.e. Monthly Maturity Scheme:

• The maturity period of each monthly Deposit created under Monthly Maturity Scheme of SDP shall be for a minimum period of 12 months to a maximum period of 60 months.
• The Applicant will have option to choose between 6 to 48 number of monthly Deposits under monthly maturity scheme.
• Each deposit will be treated as a separate fixed deposit and Tenor (as selected by the Applicant) will start from the date of realisation of each deposit instructions through NACH/ cheque.
• A separate Fixed Deposit number will be issued to each monthly Deposit and accordingly separate FDR will be issued for each Deposit.
• The Deposit tenor selected for first deposit will be applicable to all the future deposits

(ix) Under Plan 2 i.e. Single Maturity Scheme:

• The SDP Tenor shall be for a minimum of 19 months to maximum of 60 months.
• the Depositor will have option to choose between 6 to 47 number of monthly deposits.
• All deposits will mature on a same date.
• Each deposit will be treated as a separate fixed deposit and Tenor (as selected by the Applicant) will start from the date of realisation of each deposit instructions through NACH/ cheque.
• A separate Fixed Deposit number will be issued to each monthly Deposit and accordingly separate FDR will be issued for each Deposit.
• The date of maturity will remain the same for all the deposits booked thereunder. Accordingly, the Tenor of first deposit will be as per the Tenor selected by the Applicant and the Tenor of each deposit placed after the first deposit will gradually reduce in order to match the same towards fixed maturity date.

2. JOINT DEPOSITS:

(i) Application may be made in joint names subject to a maximum of two 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 (b) or gives the consent through electronic mode (c) submit KYC and other documents as specified by the Company and (d) 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 unless such request is expressly consented/signed by all the joint holders.

(iii) All communications in relation to the Deposit under SDP will be addressed in the name of the first applicant appearing in the Application. Any instructions received from the Primary Holder through mobile number and/or email id registered in the name of Primary Holder (while applying for SDP), will be binding on all the 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 under SDP 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 SDP unless there is any specific direction of court of law.

3. FIXED DEPOSIT RECEIPTS

i) For each Deposit under the SDP, a separate Fixed Deposit Receipts (“FDR”) will be issued by BFL.

ii) Electronic Fixed Deposit receipt will be sent to email id mentioned in the Application Form by depositor(s) by default. In the event customer requests for physical FDR then the same will be couriered to the depositor(s) within a period of three weeks from the date of Deposit. 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.

iii) In case of change in KYC documents/ status of any of the Applicant, the Applicant shall immediately inform BFL regarding the said change and submit the revised KYC documents/ updated status to BFL, failing which BFL shall not be held responsible for any consequences, actions, claims, loss due to the said change in KYC.

iv) 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.

v) In the event of loss or destruction or mutilation of  FDR (for any reason) and upon request received by BFL, FDR will be re-issued by BFL in lieu of such 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) The Deposit under SDP will be booked at the rate of interest prevailing on the date of each Deposit as per the tenor selected under the SDP

ii) In case of Single Maturity Scheme of SDP, since the date of maturity for all the deposits is same, the rate of interest payable to the Applicant will gradually be reduced basis the Tenor of respective Deposit booked under the said option

iiI) Individual Depositor (s) 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 0.40% p.a. per Deposit amount of up to 3 (three) crore;

iv) 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.

v) Subject to approval of Application by BFL, interest payable on a Deposit under SDP will be calculated from (a) the date of actual receipt of the 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.

vi) The Deposits under SDP will be considered as cumulative deposit and interest will be paid on maturity only.

vii) Once the applicant selects the deposit plan at the time of placing the Deposit i.e. Tenure and interest payout frequency, the applicant will not have the option to subsequently revise the deposit plan/scheme.

viii) 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 NM / 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.

xi) In case of change in the rate of interest under the SDP, the same will be communicated to Applicant by acceptable mode of communications like publishing on website, SMS, email, WhatsApp massage, etc.

x) Interest is compounded annually

5. NOMINATION:

i) Nomination facility is available to the applicants. 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) The nominee appointed by the Applicant(s) through this Application or by submitting 'Form DA 1' shall be valid and applicable for all the deposits made under the SDP unless a separate nomination is declared by the applicant(s) by way of a separate “Form DA 1” for each deposit specifying the deposit number. In case the Applicant(s) wish to change the nominee and/or add the nominee then the Applicant(s) will be required to submit a separate Application form for such cancellation or variation. Any change and variation in the Nomination will be applicable only to the FD for which “Form DA 1” has been submitted.

iii) Upon request of the depositor(s) for cancellation of nomination the Company will share 'Form DA 2' and for changes (variation) in nomination, the Company will share 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, the SDP will come to an end and NACH will not be presented for further creation of deposits after receipt of such information about the death. 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/ Order or judgement from Indian Court 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 depositor(s). The nominee, in the event of death of the depositor(s) would receive such amounts in trust for the legal heirs.

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

iv) 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 atleast 3 (three) business days before maturity date of the Deposit..

v) Renewal of Deposits will be subject to the rate of interest and other terms & 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. Renewal is not allowed for deposits created under Single maturity scheme.

vi) In case where the depositor(s) has/have opted for renewal of deposit under monthly maturity scheme of SDP through renewal application form, however, wishes to cancel the renewal request, the cancelation request signed or consented by all the Deposit holders, shall reach the Company atleast 3 (three) business days before maturity date of the Deposit. The written request 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 empanelled with the Company. No requests shall be accepted post the above-mentioned period.

vii) Under Single maturity scheme of SDP, if there is a bounce of NACH during its Tenor then the deposit for that particular month/s will not be booked and the Tenor of such option including the number of installments selected by the Applicant will not be increased/ extended.

viii) In case of death of the Primary depositor, the SDP will come to an end and NACH will not be presented for further creation of deposits after receipt of such information about the death. The death claims will be settled in accordance with the terms and conditions applicable to Fixed Deposits

7. PREMATURE WITHDRAWAL:

i) Premature withdrawal is permitted for either one or more deposit under the SDP 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, 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 only subject to submission of proof of death and other requisite documents to the satisfaction of the Company.

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 table 3 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 application form or such other bank account intimated by the deposit holder in writing to BFL subsequently.

8. LOAN AGAINST DEPOSIT

i) 'Loan against the deposit' facility may be provided to depositors against each of the Deposit(s) placed with the Company under the SDP, subject to fulfilment by depositor(s) of the eligibility criteria and other conditions, as may be prescribed by the Company in this regard.

ii) Separate Loan Against Fixed Deposit documentation is required to be executed for each Deposit against which the loan may be granted and accordingly separate loan account number will be opened for each deposit.

iii) 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 depositor's Deposit. The loan amount cannot exceed 75% of the deposit amount. The loan amount will be credited in the same bank account registered with BFL.

9. OTHER TERMS

i) In case of Physical application, the Applicant is required to make the first deposit through account payee cheque. In case of Online application, the amount towards the first Deposit under the SDP shall be made through internet banking. The subsequent monthly deposits will have to be made by issuing National Automated Clearing House (NACH) mandate or any other mandate (collectively referred as “Mandate”) as may be permitted by RBI from time to time duly registered with Applicant's Bank, which will be presented once in a month on the date specified by the Applicant. However, until successful registration of the Mandate, no subsequent Deposit shall be booked by the Company under the SDP. For the sake of clarity, any subsequent deposit after the first deposit is not acceptable through any other payment mode, except through Mandate.

ii) In case of dishonor of Mandate, deposit will not be booked for such month and Mandate will be presented in the next month as per SDP. In such case, tenure of SDP selected by the Applicant shall NOT be extended for equal number of months for which the Mandate stood dishonored.

iii) BFL will not collect bounce charges for the NACH dishonor. However, it may be noted that the Applicant's Bank may levy Bounce charges for each NACH dishonor and BFL shall not be held liable for the same in any manner.

iv) 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 5,000/- (Rupees five 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 Experia. If the aggregate amount of interest paid or payable during the financial year exceeds INR 3,00,000 (Rupees three lacs only) for non senior citizens and  INR  5,00,000 (Rupees five 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.

v) 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.

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

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

viii) 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.

ix) 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.

x) 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.

xi) 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).

xii) 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 to 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.

xiii) The advertisement inviting fixed deposits under SDP mentioned in Annexure below shall form part of the Application.

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

xv) Depositor can cancel his/her Mandate anytime in between & stop the systematic deposits payment. However, once cancelled, such mandate will not be revived. In case depositor(s) wish to place deposit under SDP after cancellation of the earlier application, the depositor(s) will have to submit fresh SDP application form. No Presentation will be pushed for SDP cases whose mandate has been - cancelled /deactivated by customer/payment STOP by drawer / ECS is bounced – for three times consecutively due to financial reasons.

xvi) 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) can apply to open SDP with BFL by submitting physical Application from to Company's branch or authorized distributors or by online mode by visiting https://www.bajajfinserv.in/fixed-deposit-application-form?ProductName=SDP or visiting any of our affiliated partner websites.

ii) The Application Form should be duly filled and signed by all the applicant(s).

iii) In case of Physical application, the first deposit under the SDP should mandatorily be made by using a CTS compliant account payee cheque drawn in favour of 'BAJAJ FINANCE LTD FIXED DEPOSIT ACCOUNT NUMBER 00070350006738' clearly stating the deposit amount along with the application number on the rear side of the cheque and by submitting required documents with any of branch or authorised distributor of the Company.

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

(a) The applicant can obtain introduction from any other fixed deposit holder with BFL. The said existing depositor will be required to disclose his/her name, Customer ID/ account number and fixed deposit receipt (FDR) 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) Subsequent/Monthly deposit refers to representation of NACH once in a month on a date specified by the applicant while opting for the SDP.

ii) In case of any change in maximum tenure of the FD (which is 60 months as on date) the maximum tenure as per the regulatory/ statutory guidelines prevailing on the date of booking FD or as opted in the SDP, whichever is less will be followed.

iii) 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.

iv) 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.

v) 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

Bajaj Finance Limited

CIN-L65910MH1987PLC042961

Registered Office: Akurdi, Pune 411 035

Corporate Office: 4th Floor, Bajaj Finserv Corporate Office,

Off Pune Ahmednagar Road, Viman Nagar, Pune 411014

FIXED DEPOSIT SCHEMES

‘Rated CRISIL AAA/Stable’ and [ICRA]AAA(Stable)

The abovementioned ratings indicate highest degree of safety with regard to timely payment of interest and principal on the instrument.

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Systematic Deposit Plan (SDP) (for Resident Individuals only):

Rate of Interest per annum valid up to ₹5 Crores per deposit ( w.e.f  16th July 2024)

a)  Minimum deposit amount under SDP is ₹5,000/- per Deposit.

b) Rates of interest in table 1 are applicable only for deposits through the website and app. Rates of interest in tables 2 and 3 are applicable for deposits through the website and app, as well as physical application forms.

b)  The SDP is offered only to Indian residents.

c)  In SDP, each Fixed Deposit (referred as “Deposit”) will be treated as separate Deposit and separate Fixed Deposit Receipt (“FDR”) will be issued with tenure that will be computed from the date of such respective Deposit.

d)  In case of Monthly Maturity Scheme, the Depositor will have option to choose between 6 to 48 number of monthly Deposits under SDP.

e)  In case of Single Maturity Scheme, the Depositor will have option to choose between 6 to 47 number of monthly Deposits under SDP.

f)  The maturity period of each monthly deposit created under Monthly Maturity Scheme of SDP shall be for a minimum period of 12 months to a maximum period of 60 months

g)  In case of Single Maturity Scheme of SDP, the SDP Tenure shall be for a minimum of 19 months to maximum of 60 months. All Deposits under the said Single Maturity Scheme of SDP will mature on a same date. Accordingly, the tenure of first Deposit under the said Single Maturity Scheme will be as per the SDP Tenure selected by the depositor and the tenure of each Deposit placed after the first Deposit will gradually reduce in order to match the same towards fixed maturity date.

h)  Bajaj Finance Ltd(“Company”) will book Deposit at the rate of interest prevailing on the date of each Deposit as per the tenor selected under the SDP.

i) Subject to approval of Application by BFL, interest payable on a Deposit will be calculated from (i) 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; (ii) the date 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 (iii) the date of realization of amount by BFL, where the payment is made by cheque or any other mode. The rest of Deposits under the SDP will be booked from the date of receipt of funds by the Company. The interest will be applicable from date of booking of Deposit.

j)  The Deposits under SDP will be considered as cumulative deposit and interest will be paid on maturity only.

The amount towards the first Deposit under the SDP shall be made through internet banking, e-mandate or account payee cheque. The subsequent deposits will have to be made by issuing National Automated Clearing House (NACH) mandate duly registered with depositor's Bank, which will be presented once in a month on the date specified by the depositor. However, until successful registration of NACH mandate, no subsequent Deposit shall be booked by the Company under the SDP.

For the sake of clarity, any subsequent Deposit after the first deposit is not acceptable through any other payment mode, except through NACH mandate.

k)  Individual depositor or primary depositor, 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 upto 0.40% p.a. per Deposit amount of up to ₹5 (five) crore.

If the applicant becomes a senior citizen subsequent to placing of first Deposit, the applicant will not be eligible for the senior citizen benefit for subsequent monthly deposits made under the same SDP.

l)  The Depositor category will not change during the SDP and will remain same as on the date of opting for SDP. The same category will be applicable throughout the SDP tenure.

m)  Rate of interest for deposits for more than ₹5 Crore per Deposit may vary from the published card rate and will be decided on case to case basis but within the cap on Rate of Interest specified by the Reserve Bank of India.

n)  The Company will make repayment of Deposit on the date of maturity of such Deposit unless it receives any request for renewal within the prescribed period before the date of maturity. The payment will be made through NEFT or RTGS or account payee cheque (in case of rejection of transfer by NEFT/RTGS) to the bank account of the depositor mentioned in the deposit application.

o)  In case of dishonor of NACH mandate, Deposit will not be booked for such month and NACH mandate will be presented in the next month as per SDP. In such case, tenure of SDP selected by the Depositor shall NOT be extended for equal number of months for which the NACH stood dishonored.

p)  Monthly Deposit refers to presentation of NACH mandate once in a month on a date specified by the depositor while opting for the SDP.

q)  The request for renewal of the Deposit signed or consented by all the deposit holders shall reach the Company either through physical application or through BFL Online portal at least 3 business days before maturity date of deposit. The written request 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 for renewal of Deposit shall be accepted post the above-mentioned period. Renewal of Deposits will be subject to the rate of interest and other terms & 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. Once renewal is applied for the Deposit(s) under Monthly Maturity Plan, such Deposit(s) will be governed by the terms and condition as applicable for regular deposits of resident Indians. No renewal is permitted for Deposits created under Single Maturity Scheme

r)  In case where the depositor(s) has opted for renewal of Deposit created under Monthly Maturity Scheme through renewal application form, however, wishes to cancel the renewal request,  cancellation request signed or consented by all the deposit holders shall reach the Company atleast 3 (three) business days prior to maturity date of the Deposit. The written request 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.

s)  In case of death of the individual primary depositor, the SDP will come to an end and NACH will not be presented for further creation of deposits after receipt of such information about the death. The death claims will be settled in accordance with the terms and conditions applicable to Fixed Deposit.

Particulars to be furnished as per the Non-Banking Financial Companies & Miscellaneous Non-Banking Companies(Advertisement) Rules, 1977 as amended.

A. Name of the Company: Bajaj Finance Ltd.

B. Date of incorporation: 25th March 1987

C. Profits/Dividends:

Profits of the Company before and after making provisions for tax, for the three financial years immediately preceding the date of the advertisement and the dividends declared by the Company in respect of the said years.

D. Brief particulars of the management of the Company:

The Company is managed by the Managing Director, subject to the control and supervision of the Board of Directors. The Managing Director is entrusted with necessary powers for managing the business and affairs of the Company.

E. Names, addresses and occupations of Directors:

F. Summarised Financial Position of the Company (standalone) as appearing in the two latest audited balance sheets:

(₹ In Crore)

Contingent Liabilities (Standalone) :

H. The aggregate dues from the facilities, both fund and non-fund based, extended to, the companies in the same group or other entities or business ventures in which the Director/Company are holding substantial interest are ₹235.61 crore (Bajaj Housing Finance Ltd. – ₹0.08 Cr, Bajaj Allianz Life Insurance Company Ltd. – ₹32.80 Cr, Bajaj Allianz General Insurance Company Ltd. – ₹11.49 Cr, Bajaj Finserv Health Ltd. – ₹13.17 Cr, Bajaj Auto Ltd. – ₹0.21 Cr, Bajaj Electricals Ltd. – ₹0.06 Cr, Bajaj financial securities ltd. - ₹155.26 Cr, Bajaj Finserv direct ltd.- ₹0.06 Cr, Bajaj Holding & investment ltd. - ₹0.70 Cr, Bajaj Finserv Ventures ltd. - ₹21.78 Cr)

I. The Company has no overdue deposits other than unclaimed deposits.

J. The Company declares as under:

i) The Company has complied with the provisions of the directions applicable to it.

ii) The compliance with the directions does not imply that the repayment of Deposits is guaranteed by the Reserve Bank of India.

iii The deposits accepted by the Company are unsecured and rank pari passu with other unsecured liabilities.

iv) The deposits solicited by the Company are not insured.

v) The Financial position of the Company as disclosed and the representations made in the deposit application form are true and correct. The Company and its Board of Directors are responsible for the correctness and veracity thereof. The financial activities of the Company are regulated by Reserve Bank of India. It must, however, be distinctly understood that Reserve Bank of India does not undertake any responsibility for the financial soundness of the Company or for the correctness of any of the statements or the representations made or opinion expressed by the Company and for repayment of deposits/ discharge of liabilities by the Company.

K. The deposits shall also be subject to the terms and conditions as per the deposit application form.

L. Deposits may be withdrawn prior to the date of maturity subject to the regulations of the Reserve Bank of India in this regard. Please note that premature withdrawal of Deposit (including death cases) is subject to the following conditions:

a)  Upto 3 months from date of deposit: Withdrawal is not permitted, except of cases death of the primary depositor.

b)  After 3 months but before 6 months: Interest shall not be payable.

c)  After 6 months but before the date of maturity: The rate of interest shall be 2% lower than the rate specified for the period during which the scheme has run. In case of no rate being specified for the deposit period, interest rate payable shall be 3% lower than the lowest rate offered by the Company.

M. The Business carried on by the Company and its subsidiaries with details of branches or units, if any:

1. Business carried on by the Company and its branches:

Providing consumer finance ranging from vehicle loans, consumer durable financing, personal loans, loan against property, Home Loans, construction equipment financing, small business loans, loan against securities and infrastructure financing. The Company is having its Branches at Agra, Ahmedabad, Ahmednagar, Ajmer, Akola, Akot, Alappuzha, Allahabad, Ambala, Amravati, Amreli, Amritsar, Anand, Anantpur, and Ankaleshwar, Asansol, Aurangabad, Bagalkot, Bangalore, Baramati, Bardoli, Bareilly, Baroda, Barshi, Belgaum, Bellary, Bhandara, Bharuch, Bhatinda, Bhavnagar, Bhilai, Bhiwandi, Bhopal, Bhubaneshwar, Bhuj, Bidar, Bijapur, Bikaner, Bilaspur, Bokaro, Bolpur, Borsad, Calicut, Chalisgaon, Chandigarh, Chandrapur, Chennai, Chhindwara, Chikhli, Chiplun, Chitradurga, Chittaranjan, Chopda, Cochin, Coimbatore, Cuddalore, Cuttack, Dabhoi, Dahod, Davangere, Dehradun, Dewas, Dhanbad, Dharapuram, Dharwad, Dhule, Dindigul, Durgapur, Eluru, Erode, Gandhidham, Goa, Gokak, Gulberga, Guna, Guntur, Gwailor, Haldia, Halol, Hassan, Haveri, Himatnagar, Hoshangabad, Hoshiarpur, Hospet, Hubli, Hyderabad, Indore, Jabalpur, Jagadhri, Jaipur, Jalandhar, Jalgaon, Jalpaiguri, Jammu, Jamnagar, Jamner, Jamshedpur, Jodhpur, Junagadh, Kadi, Kaithal, Kakinada, Kalka, Kannur, Kanpur, Kapurthala, Karad, Karaikudi, Karnal, Karunagappally, Karur, Karvar, Katni, Khamgaon, Khandwa, Kharagpur, Kolar, Kolhapur, Kolkata, Kollam, Kopergaon, Korba, Kota, Kottayam, Kurnool, Kurukshetra, Latur, Lucknow, Ludhiana, Machilipatnam, Madurai, Mandya, Mangalore, Mapusa, Margao, Mehsana, Moga, Morbi, Mumbai, Mysore, Nabha, Nadiad Nagarcoil, Nagpur, Namakkal, Nanded, Nandurbar, Nashik, Navsari, Nellore, New Delhi, Palanpur, Pandharpur, Panipat, Patiala, Patna, Pen, Phagwada, Pimpalgaon, Pollachi, Pondicherry, Pune, Puttur, Raichur, Raipur, Rajahmundry, Rajgurunagar, Rajkot, Rajnandangaon, Rajpura, Ranaghat, Ranchi, Ratlam, Ratnagiri, Rewa, Rohtak, Ropar, Rourkela, Salem, Sangli, Satara, Satna, Sehore, Shimla, Shimoga, Siliguri, Sirsa, Solapur, Surat, Surendranagar, Tenali, Thiruvalla, Tirunelveli, Tirupati, Tirupur, Trichur, Trichy, Trivandrum, Tumakuru, Tuticorin, Udaipur, Udipi, Ujjain, Vadakara, Valsad, Vapi, Varanasi, Vidisha, Vijayawada, Vizag, Vizianagram, Wani, Warangal, Wardha, Warud, Washim, Yavatmal and all other branches mentioned in the official website page www.bajajfinserv.in=> Scroll to bottom of the webpage=>Contact us=>Visit our branch or by directly clicking https://www.bajajfinserv.in/branch-locator

2. Locations where minimum deposit size is ₹5000 (not eligible for online investment)

a)    Gujarat – Bujetha, Kahanva, Khaparwada, Nandarkha, Sunevkalla, Amadpore, Asarma, Darapura, Dungri, Godavadi, Harangam, Kotambi, Sarvani, Vanskui, Balda, Bhathi Karambeli, Jitali, Umra, Barkal, Bhatlai, Kanyasi, Pardi Zankhari,  Pathri, Karmal, Handod Chokdi, Bhadkad, Dehmi, Dabhasi, Kantharia, Virol, Lilchha, Navagam Isari, Sangal, Vaniyad, Mahudi, Parsa Gj, Vasna Rathod, Menpura, Sihunj, Vasna, Vasai, Dadhiyal, Kuda Gj, Vadavi, Varvada.

b)    Maharashtra - Baragaon Pimpri, Kharde, Manjrod, Jatoda, Mehergaon, Somthane, Odha, War, Shaha, Bhatane Javkheda, Lamkani, Chinchkhede, Shewade, Gondur, Dodi Bk, Raypur, Bhatpure, Warud MH, Dighawe, Vadjai, Indawe, Vinchur, Devbhane, Deur Budruk, Pandhurli.

c)    Rajasthan - Akola RJ, Badarda, Baghera, Bhinay, Boraj, Dabok RJ, Daulatapura, Daurai, Dungla, Ganahera, Govindgarh, Hurda, Jahota, Jaitpura, Jaliya II, Jatwara, Jethana, Kadera, Karoi Kalan, Kot Khawada, Kothiya, Lalchandpura, Manpura Mancheri, Menar, Muhana, Nai ki Thadi, Natata, Niwana, Radawas, Saradhana.

3. Business carried on by the subsidiaries of the Company:

The above text of advertisement has been issued on the authority and in the name of the Board of Directors and has been approved by the Board of Directors at its Meeting held on 23 July 2024 and copy of the same signed by Shri Rajeev Jain, Managing Director, who is authorized by the Board to sign on it’s behalf, has been delivered to the Reserve Bank of India for registration.

By order of the Board of Directors

for Bajaj Finance Limited

Rajeev Jain

Managing Director

DIN: 01550158

Pune

24 July 2024

Bajaj Finance Limited 
CIN-L65910MH1987PLC042961
Registered Office: Akurdi, Pune 411 035
Corporate Office: 4th Floor, Bajaj Finserv Corporate Office,
Off Pune Ahmednagar Road, Viman Nagar, Pune 411014

FIXED DEPOSIT SCHEMES

Rated CRISIL AAA/ STABLE and [ICRA]AAA(Stable). 
The abovementioned ratings indicate highest degree of safety with regard to timely payment of interest and principal on the instrument.

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This is a public announcement that the rate of interest which were applicable w.e.f. 16 July 2024 to fixed deposit scheme upto Rs.5 Cr, will be applicable to fixed deposit scheme upto Rs.3 Cr w.e.f. 17 September 2024.

These changes are applicable to fixed deposit scheme of resident Indians, non-resident Indians, Systematic Deposit Plan (SDP) from Resident Indians as well as deposits from Trusts.

Further, there are no changes in the rate of interest (last effective from 16 July 2024) as well as the terms and conditions governing the fixed deposit scheme.

By order of the Board of Directors
for Bajaj Finance Limited

Rajeev Jain
Managing Director
DIN: 01550158

Pune
12 September 2024