MyLoanCare is a FREE of cost service for borrowers

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0

Bajaj Finance Fixed Deposit

Bajaj Finance FD Scheme

Last Updated 02nd Nov 2020

Bajaj Finance fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 6.10% to 6.60%
Minimum Tenure 1 year
Maximum Tenure 5 years
Deposit Amount Rs. 25,000
Maximum Deposit No Limit
    Earn upto 6.95% on FD APPLY NOW

    Bajaj Finance FD

    Bajaj Finance is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 1 year to 5 years. Apart from that, Bajaj Finance FD offers regular returns on fixed deposit ranging between 6.10% to 6.60%. For senior citizens, the interest rates on fixed deposits range between 6.35% to 6.85%. In addition to that, Bajaj Finance fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of Bajaj Finance Fixed Deposit Schemes

    Different type of Bajaj Finance term deposit products offered to the investors are listed as follows:

    Regular Fixed Deposit

    Description:

    • Under this regular fixed deposit scheme, the customers will grow their savings with a greater flexibility along with assured returns and higher stability on your investment.
    • Rated AAA by CRISIL and ICRA
    • One of the largest NBFCs in India
    • Assured returns and high stability
    • Complete Online paperless process
    • Higher interest rate for senior citizens

    Eligibility:

    • Resident Indian citizens, Hindu Undivided Family (HUF), Sole proprietorship and partnership firms.
    Bajaj Finance Tax Saving Fixed Deposit

    Description:

    • Under this scheme, the bank provides the flexibility to earn higher returns on your investment along with other additional benefits.
    • Tax exemption on principal amount of up to Rs. 1.5 lakh in a year
    • Lock-in period of 5 years and no withdrawal allowed before the maturity date
    • Claim tax benefits on your deposit with a fixed deposit receipt issued by the bank

    Benefits of Bajaj Finance FD

    Bajaj Finance fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about Bajaj Finance FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Bajaj Finance offers FD rates up to 6.60%. The interest rates offered on Bajaj Finance FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. As Bajaj Finserv is a HFC, deposits are not covered under insurance. However, credit rating agencies give ratings to your deposits, which give a good understanding of savings. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Bajaj Finance term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because Bajaj Finance fixed deposit allows one to borrow a secured loan against Bajaj Finance FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about Bajaj Finance loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: Bajaj Finance FD offers the investors the flexibility to choose the investment tenure as per their convenience. Bajaj Finance offers fixed deposit for a minimum tenure of up to a maximum tenure of 5 years. Bajaj Finance offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, Bajaj Finance fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 25,000. Apart from that, one can invest in the Bajaj Finance FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with Bajaj Finance means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from Bajaj Finance will attract an interest rate lowered by 1 below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Bajaj Finance fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for Bajaj Finance FD

    Bajaj Finance FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for Bajaj Finance FD

    Bajaj Finance fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    Bajaj Finance offers the loan against FD facility to the FD investors with a repayment tenure of up to 5 years.

    What is the minimum investment for FDs under Bajaj Finance?

    Bajaj Finance FD can be availed with a minimum deposit of Rs. 25,000.

    What is the minimum amount for a fixed deposit in Bajaj Finance?

    The minimum amount required for a fixed deposit investment in Bajaj Finance fixed deposit is Rs. 25,000.

    What is the current interest rate on FD in Bajaj Finance?

    Currently, Bajaj Finance offers an interest rate ranging between 6.10% to 6.60% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in Bajaj Finance?

    Bajaj Finance fixed deposit can be opened with a minimum tenure of 1 year.


    Notification ×
    • Home Loan

      Home Loan starting at 6.90%. Cashback of up to ₹ 1,000 plus Free COVID Insurance of ₹ 1 lakh.

      Apply Now
    • Personal Loan

      Instant Personal Loan with Cashback of up to ₹ 1,000 or Free Corona Insurance Cover of up to ₹ 5 Lakhs.

      Check Offers
    • Fixed Deposit

      AAA rated FDs with returns as high as 6.95%.

      Invest Now
    • Demat Account

      Open Instant Demat Account and Get Cashback of ₹ 500*. *T&C Apply

      Apply Now
    • DBS Savings Account

      Open Account Online and Cashback of up to ₹ 4,800.

      Open Account
    • Gold Loan

      Instant Gold Loan starting at 9.90% with Cashback of up to ₹ 500 or Free Corona Health Cover of upto ₹ 1 Lakh.

      Apply Now
    • Loan Against Property

      Best Loan Against Property Offers starting @ 10.00%. Cashback of up to ₹ 1,000*.

      Apply Now
    • Credit Card

      Get amazing offers, discounts and welcome gift vouchers on SBI Credit Cards.

      Apply Now
    Bajaj Finance News - Jan 2021
    • 2020-05-05 : Bajaj Finserv revised its FD rates
      Bajaj Finserv changed its FD rates. The FD rate for 12 to 23 months is 7.40%, for 24 to 35 months it is 7.45% and it is 7.50% for 36 to 47 months. Further, the fixed deposit rates for 48 to 60 months is 7.60%. The revised rates are in effect from 5 May 2020.
    • 2020-03-05 : Bajaj Finance revised its FD rates
      Bajaj Finance changed its FD rates. The FD rate for 12 to 23 months is 7.60%, for 24 to 35 months it is 7.65% and it is 7.70% for 36 to 47 months. Further, the fixed deposit rates for 48 to 60 months is 7.80%. The revised rates are in effect from 5 March 2020.
    • 2019-12-06 : Bajaj Finance revised FD Rates
      With effect from December 7, 2019, Bajaj Finance is set to revise its interest charges on fixed deposits. The revised rate for 12-23 months is 7.60%, the rate for 24-35 months is 7.90%, and for 36-60 months, the rate is 8.10%. Further, for senior citizens, the rates vary by 25 basis points and thus are 7.85%, 8.15%, and 8.35%, respectively, for 12-23 months, 24-35 months, and 36-60 months.
    • 2019-10-29 : Bajaj Finance earns revenue worth Rs 1204 crores in the second quarter
      Bajaj Finance declared that its net profit increased to 71 percent to Rs 1204 crores and its total income rose to Rs 14,224 crores. The Bank claims that it earned a large revenue from interests earned on deposits and from retail financing on home and personal loans.
    • 2019-09-03 : Revised FD rates for Bajaj Finance
      Bajaj Finance has revised its FD rates with effect from September 3, 2019. The revised interest rate for a tenure of 12-23 months is 8 percent; for a tenure of 24-35 months the rate is 8.05% and the rate of interest for 36-60 months is 8.35%. Also, the rates for senior citizens are revised, which vary by 35 bps.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
    Loader
    Please wait while your information is being processed...