| Started On | 2006 |
| Head Quarters | Pune, Maharashtra |
| CRISIL Rating | FAAA/Stable |
| CEO | NA |
| Listed on exchange as | Bajaj Finance |
| ICRA Rating | MAAA (Stable) |
| Tenure | Regular customers | Senior citizens |
|---|
For Bajaj Finance FDs with tenure ranging from 12 to 23 months, the interest rate offered is 6.20% p.a.
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 6.95% pa
These deposits have their tenure ranging from 36 months to 60 months or 3 years to 5 years and offer an interest rate of 7.40% p.a.
| Name | Tenure | Interest rate |
|---|
Open FD Account Online on Groww Website
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-
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.
One needs to visit the nearest branch of the Bajaj Finance office and fill out the FD form to open an 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.
For individuals –
For HUFs –
For partnership firms –
For joint-stock companies –
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.
The income from a Bajaj Finance FD is taxable as per individuals' income tax slab rates. Further, there is a TDS of 7.5% if the interest income exceeds Rs. 5,000. Also, if the customer does not provide the PAN, the TDS rate is 20%.
Also, note that Bajaj Finance Fixed Deposit is not entitled to tax exemption under Section 80C of the IT Act, 1961. Therefore, a customer cannot claim a tax exemption on it.
Bajaj Finance offers loans against FD. It provides loans up to 75% of the FD value.
Bajaj Finance offers premature withdrawal of Fixed deposits. Although, there is a lock-in period of 3 months. Once the lock-in period is over, the investor is open to withdrawing their FD investment. In addition, Bajaj Finance offers a loan against the FD for 75% of the FD value.
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. 15,000.
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?
Bajaj Finance offers a lucrative interest rate of up to 7.40% on Fixed Deposits for general citizens and 7.65% for senior citizens.
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?
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.