About Bajaj Finance
| Started On | 2006 |
| Head Quarters | Pune, Maharashtra |
| CRISIL Rating | FAAA/Stable |
| CEO | NA |
| Listed on exchange as | Bajaj Finance |
| ICRA Rating | MAAA (Stable) |
Bajaj Finance FD Rates 2022
| Tenure | Regular customers | Senior citizens |
|---|
Features and Benefits of Bajaj Finance FD
- Bajaj Finance Ltd. is one of the largest NBFCs in India and Credit rating for FD program is FAAA/Stable by CRISIL & MAAA (Stable) by ICRA
- One can choose a tenure between 12 months and 60 months as per the financial needs
- Attractive interest rates up to 6.50% to easily multiply your savings
- The minimum deposit needed to open a fixed deposit account is Rs 25,000
- Auto-renewal facility is available
- Multiple deposit facility is provided by Bajaj finance where a depositor can invest in multiple deposits through a single cheque payment
- Loan facility of up to Rs. 4 lakh against the fixed deposits*
*loan against FD up to Rs. 4 lac is applicable only for online application. For more than Rs. 4lac of the loan amount, the depositor can apply through offline mode.
Types of Bajaj Finance FD Schemes
Regular Fixed Deposit
- This is the regular fixed deposit provided by Bajaj Finserv in which the customers can grow their savings with assured returns and higher stability.
- Rated AAA by CRISIL and ICRA making it the safest deposit scheme with maximum security of the money against any volatility
- Customers can choose from 12, 18, 24, 36, 48, or 60 months
- Deposits are available on cumulative and non-cumulative deposits
- The Lock-in period is of 3 months. If the amount is withdrawn before it matures, i.e. in 3 to 6 months, interest will not be paid on it. If withdrawn anytime after 6 months, 2% lesser than applicable rate payable.
- The minimum deposit is Rs. 25,000 for opening an FD account and one can enjoy attractive Bajaj Finance FD interest rates on it
Term wise Bajaj Finance FD Rates
Short-term Deposits
For Bajaj Finance FDs with tenure ranging from 12 to 23 months, the interest rate offered is from 5.51% p.a. to 5.65% p.a.
Medium-term Deposits
Medium-term fixed deposits have their tenures ranging from 24 months to 35 months. The interest offered by the bank on these deposits is around 6.22% p.a. – 6.40% p.a. p.a.
Long-term Deposits
These deposits have their tenure ranging from 36 months to 60 months or 3 years to 5 years and offer an interest rate of 6.60% p.a. to 6.80% p.a.
Bajaj Finance vs Other Banks' FD Rates
| Name | Tenure | Interest rate |
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How to invest in Bajaj Finance FD?
One can invest in Bajaj Finance FD via both online and offline modes.
1) Offline Mode
One needs to visit the nearest branch of the Bajaj Finance office and fill out the FD form to open an account.
2) Online Mode
Bajaj Finance FD can be opened via online mode as well. One needs to open Bajaj Finance's website or download its official app and fill out the online application. The steps to be followed are-
- Click on 'Invest Online' to open the online form.
- Next, enter your phone number, date of birth, and OTP.
- If you are an existing customer, you will be required to only the details. Else, if you are a new customer, you will have to verify your basic details through KYC, OKYC, or by uploading the documents.
- Next, choose the deposit amount, interest payout type, tenor, and the required bank details.
- Lastly, pay the amount through UPI or net banking.
On successful payment, your FD will get booked. You will receive an acknowledgement through SMS or an e-mail within a span of 15 minutes.
Eligibility to Open BFL FD Account
Any resident individuals, as well as NRIs, can avail a standard or non-resident ordinary fixed deposit scheme through Bajaj Finserv FD. HUFs, partnership firms, public and private limited companies, registered societies, statutory society, etc. are eligible to operate a fixed deposit account with Bajaj Finance.
Documents Required to Open BFL FD
For individuals –
- KYC documents for identification and address verification.
- PAN details.
- Passport-sized photographs.
For HUFs –
- KYC documents.
- Single PAN for a stipulated Hindu Undivided Family.
- Deed of declaration.
- Bank account statement.
For partnership firms –
- Certificate of registration.
- ID proof of partners.
For joint-stock companies –
- Certificate of incorporation.
- Memorandum of association.
- Article of association.
- Board authorisation.
Registered societies and statutory boards can submit their PAN information and cumulative agreement for such fixed deposit investment to open a Bajaj Finance FD account.
FAQs
How much amount do you need to open an FD account with Bajaj Finance?
How much amount do you need to open an FD account with Bajaj Finance?
The minimum deposit amount required to open an FD account with Bajaj Finance is Rs. 25,000.
What tenure range does Bajaj finance provide?
What tenure range does Bajaj finance provide?
The tenure for Bajaj Finance ranges from 365 days to 5 years.
What is the highest interest rate offered by Bajaj Finance?
What is the highest interest rate offered by Bajaj Finance?
Bajaj Finance offers a lucrative interest rate of up to 6.80% on Fixed Deposits for general citizens and 7.05% for senior citizens.
Is the interest taxable?
Is the interest taxable?
Yes. The interest earned on Bajaj Finance Fixed Deposit is taxable. The income earned from FD is added to your total income and taxed according to the slab rates applicable to your total income.
How good is FD as an investment?
How good is FD as an investment?
FD is an overall safe and secure investment option especially if you are a risk-averse investor. The returns are guaranteed and are not market-dependent. So, owing to all these factors, fixed deposits can be easily considered a safe and good investment.
