Bajaj Finance Hikes FD Rates By 30 bps Effective From 07 October, Check New Rates Here

The interest rates on their fixed deposit (FD) scheme have been raised by up to 30 basis points for tenors between 24 and 30 months at Bajaj Finance Limited, the lending and investment division of Bajaj Finserv. The new rates for FDs up to 5 Cr will be effective from October 7, 2022. This development comes after last month, RBI hiked the repo rate by 50 bps.

According to Bajaj Finance, all customers will receive a special interest rate of 7.5% on Bajaj FinanceFDs. Customers under 60 years old will receive a special rate of 7.50% for 44 months, while seniors will receive up to 7.75% annually. Senior citizens get an additional .025% interest on the deposits.

Bajaj Finance Fixed Deposit has been rated the highest stability grade of " CRISIL AAA/STABLE," for long-term FDs and for short-term FDs it has been rated "CRISIL A1+".

Annual rate of interest for customers below 60 years for deposits from Rs 15,000 up to Rs 5 Cr

Tenors in Months	12-23	24-35	36-60
Cumulative	6.55% p.a.	7.25% p.a.	7.40% p.a.
Monthly	6.36% p.a.	7.02% p.a.	7.16% p.a.
Quarterly	6.4% p.a.	7.06% p.a.	7.20% p.a.
Half-Yearly	6.45% p.a.	7.12% p.a.	7.27% p.a.
Annual	6.55% p.a.	7.25% p.a.	7.40% p.a.

Annual rate of interest for senior citizens for deposits from Rs 15,000 up to Rs 5 Cr

Cumulative (% p.a.)

Tenors in Months	Cumulative (% p.a.)
12-23	6.80%
24-35	7.50%
36-60	7.65%

Non-Cumulative (% p.a.)

Tenors in Months	Monthly (% p.a.)	Quarterly (% p.a.)	Half Yearly (% p.a.)	Annual (% p.a.)
12-23	6.60%	6.63%	6.69%	6.80%
24-35	7.25%	7.30%	7.36%	7.50%
36-60	7.39%	7.44%	7.51%	7.65%

Special FD Interest rates for cumulative deposits

Tenors in Months	15	18	22	30	33	44
At Maturity (For Customers Below 60 Age)	6.70%	6.80%	7.05%	7.35%	7.35%	7.50%
At Maturity (For Senior Citizens)	6.95%	7.05%	7.30%	7.60%	7.60%	7.15%

Non-cumulative deposits special FD Interest rates for customers below 60 years

 

Tenors in Months	15	18	22	30	33	44
Monthly	6.50%	6.60%	6.83%	7.11%	7.11%	7.25%
Quarterly	6.54%	6.63%	6.87%	7.16%	7.16%	7.30%
Half-Yearly	6.59%	6.69%	6.93%	7.22%	7.22%	7.36%
Monthly	6.70%	6.80%	7.05%	7.35%	7.35%	7.50%

 

Non-cumulative deposits special FD interest rates for senior citizens

Tenors in Months	15	18	22	30	33	44
Monthly	6.74%	6.83%	7.07%	7.35%	7.35%	7.49%
Quarterly	6.78%	6.87%	7.11%	7.39%	7.39%	7.53%
Half-Yearly	6.83%	6.93%	7.17%	7.46%	7.46%	7.61%
Monthly	6.95%	7.05%	7.30%	7.60%	7.60%	7.75%

Source- bajajfinserv.in