Bajaj Finance in India has recently boosted its Fixed Deposit (FD) interest rates, making it more appealing for investors seeking safe and predictable returns on their savings.
If you’re looking for a reliable investment option, Bajaj Finance FD is worth exploring.
What are fixed deposits?
Fixed deposits offer a secure and straightforward method to earn interest on your savings.
You invest a specific amount in a financial institution for a set period, which can vary from a few days to several years.
In return, the institution guarantees a fixed interest rate throughout the deposit duration.
Bajaj Finance recently increased the FD rates
Bajaj Finance raised the interest rates on FDs for 15 to 60 months by 0.60% per annum, making their FDs more attractive to investors looking for higher returns.
Key Features of Bajaj Finance FD
1. High Interest Rates: Bajaj Finance FD offers some of the highest interest rates in India.
Senior citizens (those above 60 years of age) earn up to 8.85% per annum, while customers below 60 years of age earn up to 8.60% per annum.
2. Digital Convenience: No more long forms or waiting in lines. The online application process is quick and can be completed in minutes from home.
You can easily book and manage your Bajaj Finance FD through the Bajaj Finserv app or website.
3. Flexible Timeframe: Bajaj Finance understands that everyone has different financial goals.
That’s why you can choose FD tenures ranging from 12 months to 60 months. This flexibility is beneficial in many ways, including:
- Helpful in achieving short-term goals: Whether it’s for a down payment, a vacation, or handling emergencies, higher interest rates in a shorter period help you reach your goals faster.
- Plan for the long term: Invest for your retirement or your children’s education with attractive interest rates now, ensuring a secure future.
4. Pay-out options: Bajaj Finance FD offers flexibility in how you receive your interest payments. You have the freedom to choose from these options:
- Option to receive funds on a monthly/quarterly/half-yearly basis: This is ideal for a steady income stream, especially for retirees looking to cover regular expenses.
- Option to receive funds annually: Receive a lump sum each year, useful for reinvestment or significant purchases.
- Option to receive the amount at maturity: Get both the principal and interest together at the end of your FD term, maximizing your total return.
5. Security & Reputation: Bajaj Finance is a trusted financial institution with more than 500,000 satisfied customers and deposits exceeding Rs 50,000 crore.
It holds top ratings like [ICRA]AAA(Stable) and CRISIL AAA/STABLE, ensuring the safety of your investments.
6. Special benefits for senior citizens: Bajaj Finance prioritizes retired individuals and has enhanced the benefits of FDs for senior citizens by providing additional interest (up to 0.40% per annum).
How to book Bajaj Finance Fixed Deposit online
Investing in a Bajaj Finance Fixed Deposit is straightforward. Here are the simple steps to follow:
1. Visit Bajaj Finserv’s website or app.
2. Navigate to the ‘Investments’ section and select ‘Fixed Deposit’.
3. Click on ‘Open FD’ at the top of the page to access the online application form.
4. Enter your mobile number and verify the OTP sent to your phone.
5. Fill in details like investment amount, duration, and pay-out frequency. Provide your PAN and date of birth.
6. Verify your KYC details. If you’re an existing customer, review and update your information. New customers can complete their KYC using Aadhar card.
7. Read and agree to the terms and conditions shown on the screen. Enter your bank details and proceed to payment.
8. Complete your investment using Net Banking/UPI or NEFT/RTGS.
