This NBFC Now Offers Upto 7.75% Rate On Fixed Deposits To Senior Citizens: Check Details

After successive rate hike by the RBI in key policy rate with the latest 50 bps rate hike in early August, FD volume as well as FD value reportedly increased for NBFCs as well as HFCs. This is as interest rate offering by these financial entities rose with the repo rate hike. So, as rising interest rate are enticing risk averse investor class, here is this FD by Bajaj Finance-the NBFC that offers a rate of up to 7.5% to general investors and a higher return of up to 7.75% for senior citizen category.

This NBFC Now Offers Upto 7.75% Rate On Fixed Deposits To Senior Citizens: Check Details

Highest rate of 7.75% for senior citizens

For senior citizens for cumulative deposits (redemption at maturity), Bajaj Finance for a tenure of 44 months offers the highest rate of 7.75% per annum.

Highest rate of 7.5% for investors below 60 years of age

For the cumulative deposits held again for 44 months,investors below 60 years of age can earn the highest interest rate of 7.5% p.a.

Safety of Bajaj Finance FD:

The NBFC's FD has been given a high safety rating by CRISIL - AAA/ Stable and AAA (stable) rating by ICRA.

Should you invest in Bajaj Finance FD?

The decision shall largely be based on the investor's risk profile as well as return goals. If the investor cannot stomach high risk then Bajaj Finance FD can be a suitable choice offering safety of return backed by high rating of rating agencies and higher interest rate (offering inflation beating return). This is if we consider the highest rate of return offering by the firm.

Nevertheless, these credit ratings are subject to change and so keeping a tab on them is essential. Furthermore, while Bajaj Finance enjoys a good rating, there have been instances when companies have failed to honour their payment obligations.