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Bajaj Finance FD Interest Rates 2021

Bajaj Finance FD Interest Rates

Last Updated 19th Jul 2021

When it comes to the FD interest rate, the highest rate offered on Bajaj Finance FD is 6.50%. Latest Bajaj Finance FD interest rate for senior citizens, on the other hand ranges between 5.90% to 6.75%.

Tenure FD interest rates Senior Citizen FD interest rates
12 months to 23 months 5.65% 5.90%
24 months to 35 months 6.10% 6.35%
36 months to 60 months 6.50% 6.75%
Earn upto 6.95% on FD APPLY NOW

Bajaj Finance Fixed Deposit Features

Bajaj Finance FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Bajaj Finance Fixed Deposit are:

  • Deposit Amount : Bajaj Finance FD can be opened with an amount as a low ₹ 25,000 to up to No Limit.
  • FD Tenure : Ranges between 12 months to 60 months.
  • Interest Rate Range : 5.65% p.a. to 6.50% p.a.
  • Senior Citizens FD Rate : 5.90% p.a to 6.75% p.a.
  • Highest Interest Rate : As per today’s rate, Bajaj Finance’s highest interest rate on FD is 6.50% offered for a tenure of 60 months.
  • Safety of Bajaj Finance Deposits : Bajaj Finance is a HFC and hence, its deposits are not covered under insurance. However, deposits of HFC are rated by rating agencies, which give a good understanding of your savings. AAA or AA rated deposits are considered have the highest safety
  • Loan against FD : As per the policy of Bajaj Finance. To be confirmed at the time of opening a FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Fixed Deposit, Bajaj Finance Tax Saving Fixed Deposit

Bajaj Finance FD Interest Rates Today

Interest rates on Bajaj Finance deposits are updated regularly by the Government of India. The following are updated Bajaj Finance FD interest rates 2021:

Tenure Interest Rate
12 months to 23 months 5.65%
24 months to 35 months 6.10%
36 months to 60 months 6.50%

Bajaj Finance FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Bajaj Finance offers a higher interest rate to senior citizens than the general public. Listed below are the Bajaj Finance fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
12 months to 23 months 5.90%
24 months to 35 months 6.35%
36 months to 60 months 6.75%

Best FD Plan as per Bajaj Finance FD Rates

To invest in Bajaj Finance fixed deposit, you must compare Bajaj Finance Fixed Deposit Rates for varying tenures. Bajaj Finance FD Interest Rates 2021 are best for the deposits with a tenure of 36 months to 60 months, wherein the current Bajaj Finance Fixed Deposit Interest Rates is 6.50 p.a.

If you are looking to invest in short term deposits with Bajaj Finance, the interest rate of Bajaj Finance for FD ranges from 5.65% p.a. to % p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Bajaj Finance Fixed Deposit Rates for senior citizens range from 5.90% to % p.a.

Below-mentioned is some of the benefits of opening an FD account in Bajaj Finance:

  • Interest on deposit is paid only at the time of the maturity
  • Bajaj Finance also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Bajaj Finance Fixed Deposit Rate Trends

Bajaj Finance has cut interest rates on fixed deposits with effect from 11 May, 2021. The new Bajaj Finance highest FD rate is currently at 6.50%, which is an decrease of 0.1% from the previous highest rate of 6.60%. Currently, Bajaj Finance FD rate for upto 1 year is 5.65% and 6.50% for 5 year FD.

Documents required to open Fixed Deposit Account in Bajaj Finance

  • Latest photograph
  • Identity Proof: PAN Card, Voter ID Card, Passport, Driving License
  • Address Proof: Telephone Bill, Electricity Bill, Bank Statement With Cheque
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

Bajaj Finance Fixed Deposit Rates – Premature Withdrawal

You can close your Bajaj Finance FD account prematurely, however Bajaj Finance charges a penalty of 1 for premature withdrawal. Also, The penal provisions for premature closure on Bajaj Finance FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Bajaj Finance

Bajaj Finance offers loans up to 90% against its own deposit. Note that Bajaj Finance will not give you loan against FD of any other bank. Bajaj Finance offers Loan against FD at the rate of 6.65% to 7.5%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Bajaj Finance. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FD Account Opening Process at Bajaj Finance

To open an Bajaj Finance Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Bajaj Finance and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Bajaj Finance FD after reading the terms and conditions.

To open a Fixed Deposit account in Bajaj Finance, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Bajaj Finance FD after reading the terms and conditions.

Nomination Facility on Bajaj Finance FD

Bajaj Finance also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Bajaj Finance FD account. The nominee has to submit his/her identification proof at the time of claim.

Bajaj Finance Fixed Deposit Scheme

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

Who is eligible?

  • 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

FAQs

What is the highest fixed deposit interest rate for Bajaj Finance?

You can earn a maximum interest of 6.50% on Bajaj Finance fixed deposit.

Are there any special rates for senior citizens FD of Bajaj Finance?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 5.65% to 6.50%. Compared to this, Bajaj Finance senior citizens FD are in the range of 5.90% to 6.75%.

What are the current Bajaj Finance FD interest rates 2021?

Current interest for FD in Bajaj Finance ranges between 5.65% - 6.50%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Bajaj Finance?

The minimum deposit amount required to book an FD with Bajaj Finance is ₹ 25,000.

Did Bajaj Finance increase FD rates in 2021?

No, Bajaj Finance has reduced its Fixed Deposit rates by upto 0.1%. The best rate on Bajaj Finance FD has been cut to 6.50% from 6.60% earlier. The fixed deposit rates of Bajaj Finance are now in the range of 5.65% to 6.50% with effect from 11 May, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Bajaj Finance?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Bajaj Finance without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Bajaj Finance?

Yes, you can submit your application for opening an FD account on the website of Bajaj Finance. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Bajaj Finance?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.50%. For Bajaj Finance FD the number of years in which your FD will get doubled is; 72/6.50 = 11

What is the interest of 1 lakh in the Bajaj Finance?

The interest on Bajaj Finance fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the Bajaj Finance FD interest rate 2021 across different tenures.

TenureInterest Rate
12 months to 23 months 5.65%
24 months to 35 months 6.10%
36 months to 60 months 6.50%


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Bajaj Finance News - Jul 2021
  • 2021-03-22 : Revised fixed deposit rate for Bajaj Finance
    Bajaj Finance hiked its fixed deposit rates for the month of March. The FD rate for 12 to 23 months now stands at 6.15%, for 24 to 35 months it is 6.60%. Further, the fixed deposit rates for 48 to 60 months is 7%. The FD interest rates for senior citizens are in the range of 6.40% to 7.25%.
  • 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, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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