The fresh deposits and renewals of maturing deposits will attract the new interest rates. The new FD customers will get a 7 percent annual cumulative return instead of 6.60 percent earlier for deposits between 36 months to 60 months.

February 04, 2021 / 10:00 AM IST

Source: Reuters

Source: Reuters

Bajaj Finance increased its fixed deposit rates by up to 40 basis points for tenors of 36 to 60 months. The revised interest rate is valid for deposits of up to Rs 5 crore and it has been effective from February 1.

The fresh deposits and renewals of maturing deposits will attract the new interest rates. The new FD customers will get a 7 percent annual cumulative return instead of 6.60 percent earlier for deposits between 36 months to 60 months.

You can avail a rate benefit of 0.10 percent if you are booking your fixed deposit through Bajaj Finance website. The senior citizens can get 0.25 percent higher FD rates than the non-senior customers – a return of 7.25 percent, regardless of their mode of investment for the same time period.

The investing arm of Bajaj Finserv has also revised 5 basis points for FDs between 12 months to 23 months. The FDs between 24 months to 36 months have also witnessed an increase of 30 basis points, the company said.

So new customers will get an interest of 6.15 percent for FDs with tenors of 12-23 months. The rate was 6.10 percent earlier. Those who are opening FDs for 24 to 35 months, can avail an interest rate of 6.60 percent, against the earlier rate of 6.30 percent.

At present, Bajaj Finance has more than 31 million customers across the country and it is a leading company of Bajaj Finserv group, it is also one of the most diversified NBFCs in the Indian market.

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