Bajaj Finance Fixed Deposit

Bajaj Finance FD (fixed deposit), a reliable investment avenue, offers an opportunity to grow your savings securely. Bajaj Finance is known for its high safety and credibility ratings. You can start investing with a minimum of Rs. 15,000 and enjoy competitive returns, with interest rates going up to 8.60% p.a. for senior citizens and up to 8.35% p.a. for citizens below 60 years of age.

In this article, we will explore the various aspects of Bajaj Finance FD, helping you make an informed decision about your investment plans.

Why Invest in Bajaj Finance FD?

Investing in Bajaj Finance FD is a smart choice for both short-term and long-term financial goals, like saving for retirement, education, or important expenses. You get competitive Bajaj Finance FD rates of up to 8.60% p.a., and your investment is safe with the highest safety ratings of AAA (Stable) from CRISIL and ICRA.

Whether you’re planning for retirement, saving for higher education, or preparing for home construction or wedding expenses, Bajaj Finance FD offers flexible tenure options that suit different purposes. You can also choose between regular interest payouts or a lump sum at maturity, making your investment strategy more convenient and adaptable.

What are the Features of Bajaj Finance FD?

Bajaj Finance FDs offer a host of features that make them a popular investment choice:

• Minimum and Maximum Deposit: You can start investing in a Bajaj Finance FD with a minimum deposit of ₹15,000, and the maximum deposit limit extends up to ₹1 Crore.

• Lock-in Period: The lock-in period for this FD is a minimum of 3 months.

• Tenure: You can choose a tenure ranging from 1 year to 5 years based on your investment goals.

• Highest Credit Ratings: Bajaj Finance boasts the highest credit ratings – [ICRA]AAA(Stable) and CRISIL AAA/STABLE – assuring the safety of your deposits.

• High-Interest Rates: Bajaj Finance FD interest rates range from 7.35% to 8.35% p.a. for the general public and 7.60% to 8.60% p.a. for senior citizens.

• Bajaj Finance FD Rates for Senior Citizens:  If you’re a senior citizen (above 60 years), you can benefit from an additional interest rate of up to 0.25% p.a.

• Flexible Interest Payout Options: Tailor your interest payout to your preferences with choices including monthly, quarterly, half-yearly, yearly, or a full payout at maturity.

• Loan Against Fixed Deposit: Bajaj Finance allows you to raise a loan against your FD. For cumulative deposits, you can get a loan up to 75% of your invested amount, and for non-cumulative FDs, it’s up to 60%.

What are the Types of Bajaj Finance FD?

Bajaj Finance provides a variety of FD options to cater to different investment requirements:

1. For Non-Senior Citizens (<60 years):

• Bajaj Finance FD interest rates range from 7.16% to 8.35% p.a.
• Investment amount can be as low as Rs. 15,000 and go up to Rs. 5 crore.
• Tenure options range from 12 to 60 months.
• Minors can invest with a guardian’s help.
• Flexible interest payout options: monthly, quarterly, half-yearly, or yearly.

2. For Senior Citizens (>60 years):

• Bajaj Finance FD rates range from 7.39% to 8.60% p.a.
• Senior citizens enjoy an additional rate benefit of up to 0.25% p.a.
• Choose from various payout frequencies: monthly, quarterly, half-yearly, or yearly.
• Hassle-free online application process.

3. For NRIs:

• Bajaj Finance FD interest rates are up to 8.30% p.a.
• Tenure options range from 12 to 36 months.
• Payment is accepted via cheque or RTGS/NEFT from an NRO bank account.
• Flexible interest payout options: monthly, quarterly, half-yearly, or yearly.

4. Systematic Deposit Plan (SDP):

• SDP allows for regular monthly deposits.
• Deposit amount ranges from Rs. 5,000 to Rs. 5 crore.
• Tenure options vary based on the chosen scheme.
• Two SDP options are available:
• Single Maturity Scheme: You receive both your investment amount and interest at the end of the deposit tenure.
• Monthly Maturity Scheme: You receive the investment amount and interest upon completion of each deposit tenure.
• Senior citizens can enjoy additional interest rate benefits with SDP.

Who Can Invest in Bajaj Finance FD?

Bajaj Finance FD is open for investment to a wide range of individuals and entities, including:

• Resident Indians
• Non-resident Indians (NRIs), Overseas Citizens of India (OCI), and Persons of Indian Origin (PIO)
• Hindu Undivided Families (HUFs)
• Clubs, associations, societies, family trusts
• Sole proprietorships

What is the Premature Withdrawal Penalty for Bajaj Finance FD?

If you need to withdraw your Bajaj Finance FD before it matures, here’s what you need to know:

• You can withdraw your Bajaj Finance FD prematurely after a minimum lock-in period of 3 months.
• If you withdraw between 3 to 6 months, you’ll receive only the principal amount without any interest.
• After 6 months but before maturity, a penal rate of 2% lower than the applicable interest rate is deducted. If no rate is specified, it’s 3% lower than the lowest offered rate by the company.

How to Use the Bajaj Finance FD Calculator?

With the Bajaj Finance FD rates calculator, you can determine your potential interest gains and the maturity amount of your FD, in just a few clicks.

Here’s how to use the FD calculator:

• Choose your customer type, whether you’re below 60 years or a senior citizen.
• Enter your desired investment amount or use the slider to select it.
• Enter the tenure of your FD or use the slider to adjust it.
• Select your preferred payout mode, whether you want interest payout at maturity, monthly, quarterly, half-yearly, or yearly.

Conclusion

Bajaj Finance FD is a reliable option for both short-term and long-term financial goals. With special Bajaj Finance FD rates, enjoy stable, competitive returns. However, it’s important to note that the rate of return is moderate compared to higher-risk investment options. Carefully assess your financial objectives and risk tolerance before zeroing down on Bajaj Finance FDs.

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