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Terms and Conditions for Fixed Deposit with Bajaj Finance Limited

User Disclaimer

“I have gone through the financials and other statements / particulars / representations furnished / made by the company and after careful consideration I am making the deposit with the company at my own risk and volition. Funds are transferred to Bajaj Finance Limited’s bank account through payment gateway by an intermediary. Interest date will be at T+1 working days based on fund realisation from payment gateway”
“I confirm the above information and my profile details are correct. I consent to Neobillion Fintech Private Limited to share my personal and KYC details with Bajaj Finance Ltd and I read & agree to the Terms & Conditions of Neobillion Fintech Private Limited and Bajaj Finance Ltd”

General Terms

I hereby agree and acknowledge that:

I hereby agree and acknowledge that:

1. I am (a) 18 (eighteen) years of age or older, (b) Sound Mind and (c) I can understand, read and write in English language.
2. I hereby apply to open/renew Fixed Deposit (referred as “Deposit”) with Bajaj Finance Ltd(“Company/BFL”), for an amount as mentioned in the application form or in digital customer journey at https://www.bajajfinserv.in/fixed-deposit-application-form?ProductName=FD or Bajaj Finance Mobile App or associate partner app (Collectively referred as “Application Form” or “Application”).
3. I have read and understood the detailed terms and conditions mentioned hereinbelow including the interest rate and other charges, the financials and other statements/particulars/representations furnished by BFL and after careful consideration, I am making the deposit with the BFL at my own risk and volition.
4. BFL is authorized to pay the interest and Deposit amount upon maturity or upon the payment frequency selected by me, as the case may be, using the available online banking payment system, to the bank account stated by me in this Application or into such other bank account as may be instructed by me in writing to BFL during the term of the Deposit.
5. The amount being deposited is not out of borrowed funds or funds acquired by accepting deposits from any other person or through any illegal or wrongful means.
6. The first named depositor mentioned in the application should be treated as the payee for the purpose of deduction of tax, under Section 194 A/195 of the Income Tax Act, 1961, as may be applicable.
I undertake to inform BFL timely and in writing, any change in the status of my citizenship, nationality or tax residence.
In case of renewal if specific tenure not mentioned, renewal will be done for same term as that of the maturing Fixed Deposit.
I agree that in case of joint fixed deposit with a survivorship clause, in the event of death of one of the depositors, BFL shall be discharged by paying the Fixed Deposit proceeds prematurely to the survivor/s on request. I further affirm that the payment of proceeds of such deposits to either one of us represents a valid discharge of the BFL’s liability.
10. In the event I am found to be an existing customer of BFL, I authorize BFL to use my existing KYC registered with BFL for present application.
11. CKYC Consent –

A. I hereby authorize BFL to verify/check/obtain/download/upload/update my KYC details from/with the CKYC Registry:
i. by verifying such details through the CKYCR number (i.e. KYC Identifier Number- KIN) provided by me or
ii. by furnishing such other details of Applicant, as may be permitted by CKYC Registry or
iii. by obtaining such CKYCR number/KIN, through details shared by me for this Application Form

B. I hereby consent for receiving information from Central KYC Registry through SMS/Email on my registered number/email address.

12. Aadhaar Offline Verification Specific Consent (OKYC) – If I opt for OKYC mode, I hereby voluntarily consent and opt for, at my own discretion, to share the XML file containing my Aadhaar information to BFL/ its service providers and CIDR/UIDAI, for the purpose of establishing my identity and verification of the same under UIDAI guidelines or under any applicable law, as may be amended from time to time. Pursuant to the same, I hereby also expressly declare that I have been informed by BFL that:

a. My XML file containing my Aadhaar details will be used for KYC (Know Your Customer) identification, verification and due diligence purpose only, as permitted under applicable law for:
i. being empanelled as a service provider to BFL, and
ii. availing financial facilities/ services from BFL in future, or
iii. commencement of any relationships/arrangement with BFL in future.
b. I understand and acknowledge that the information submitted by me to BFL shall not be used for any other purpose, unless required under any applicable law, guidelines, notification, rules and regulations as may be amended from time to time,
c. During offline verification process, my information such as Name, Photo, Date of Birth, Email ID, Mobile Number, Age, Gender, and address may be verified by BFL basis the Aadhaar details shared by CIDR/UIDAI,
d. I shall share the Share Code or confirm on the auto populated share code, as the case may be for successful XML file download and upload as contemplated under applicable law to complete my offline KYC process by verification of Aadhaar details,
e. Providing the Aadhaar details is not mandatory and there are alternative options for completing my KYC process such as performing physical KYC with submission of officially valid documents in person,
f. I may be required to submit any other officially valid document (OVD)/ Deemed to be OVD in place of Aadhaar;

Further, I expressly provide my consent to BFL for using the Aadhaar details provided by me in the manner as detailed above. I further understand and acknowledge that the records and audit trail of the Aadhaar Offline identification and verification process may be used by BFL for evidentiary purposes, including for submission before courts/tribunals/mediators/arbitrators or to any statutory or regulatory authority and I hereby expressly consent to the same;

13. All particulars, information and details provided/to be provided together with documents submitted/to be submitted to BFL are/shall be true, correct and up to date. I have not withheld any material information that may be required by BFL. I am obliged to keep BFL immediately updated of any change in the information provided by me in the Application Form. In case any information provided by me is found to be false or untrue or misleading or misrepresenting, I am aware that I may be held liable for it.

14. This Application, its contents and the information/details provided by me from time to time as pursuant to my Application, may be submitted to:
a. subsidiaries and affiliates of BFL, any service provider/third party/legal entity with whom BFL may have business relationship and/or in reference to rendering services in connection with the product(s)/services availed by me.
b. to any Regulator, Court, Law enforcement agency, Quasi-Judicial authority etc. on a need basis;

15. I hereby expressly authorize BFL and its Assigns (group companies/business partners/affiliate/subsidiaries/agents/representatives/empanelled merchants, service provider/permitted assigns and any such third party) to send me communications, including but not limited to promotional communications, regarding fixed deposit, loans, insurance and their respective products and/or services through telephone calls/SMSs/emails/post/bots/bitly etc. I agree and understand that products/services belonging to BFL’s Assigns, are governed by their own set of terms and conditions, which shall be in addition to and not in derogation to the terms and conditions prescribed by BFL herein. I understand that I can at any time opt not to receive any telecommunication;
I understand that opening of Deposit with the Company may create legal, tax or other financial/ reporting obligations for me under the laws of the country of which I hold citizenship or reside in. I shall be solely responsible for undertaking and fulfilling any obligations that I may have under the laws of such country/ies and shall not hold the Company liable under any circumstance in the event of a default on my part in fulfilling the said obligations. I agree that, as may be required by domestic regulators/ tax authorities the Company may also be required to report, reportable details to CBDT or close or suspend my applications/ contracts

Terms and Conditions of Fixed Deposits

1. ACCEPTANCE OF DEPOSITS:
(i) BFL may accept the Deposit at its sole and absolute discretion and subject to the terms and conditions contained herein.
(ii) Where the applicant is a minor, the Company may accept the Application provided the Application is signed or consented by the natural or court appointed guardians of the minor on behalf of the minor and upon submission of such documents as may be required by the Company.
(iii) The Company accepts deposits digitally only from resident individuals. The entities incorporated/registered/ constituted in India and carrying business in India are eligible for placing Deposit with BFL through other modes like branches or DSA. In case a non resident Indian wishes to place an FD with BFL, he cannot invest through any digital mode. He can place FD through BFL’s sales managers, branches or authorised partners
(iv) The Company shall accept Deposits subject to the minimum amount of deposit prescribed by the Company under the Application. In the event amount received by the Company for placing Deposit is less than the minimum amount prescribed in this regard, the Company reserves the right to reject the application for placing the Deposit. No interest shall be payable by the Company in relation to such deposits.
(v) Deposits shall not be accepted in cash.
(vi) The applicant agrees to submit all documents and information as may be required by the Company in relation to the Deposit, in such form and manner as may be prescribed by the Company.
(vii)The Company reserves the right to accept or reject any application received for opening or placing the Deposit without assigning any reason whatsoever. The amount in relation to such rejected Application will not earn any interest and the said amount will be refunded as is within 30 (thirty) business days.
(viii) The minimum amount, period and rate of interest of the scheme will be as mentioned in the Application Form.

2. JOINT DEPOSITS:
(i) Application may be made in joint names subject to a maximum of two applicants. The Deposit will be opened in joint names subject to the condition that all the applicants (a) sign the Application in their individual capacities (b) submit KYC and other documents as specified by the Company and (c) meet the eligibility criteria specified by the Company.
(ii) No addition or deletion of joint holders can be done in the existing Deposit placed with BFL.
(iii) All communications in relation to the Deposit will be addressed in the name of the first applicant appearing in the Application. Any instructions received from the joint holder through mobile number and/or email id registered in the name of such joint holder(while applying for Fixed Deposit), will be binding on such joint holder(s).
(iv) All the payments in relation to the Deposit placed in joint names including interest and maturity proceeds, will be made in the name of the first applicant in the Application including for the purpose of deduction of tax at source and any discharge given by such first applicant in respect to any payments made by the Company will be binding on the other joint applicant(s). The proceeds will be transferred to guardian, if the FD is opened in minor’s name.
(v) Any change in the joint holding of the deposit will only be considered upon receipt of joint written consent of all the deposit holders. In case of any dispute between the joint deposit holders, no change will be made in joint deposit holder details in the FD unless there is any specific direction of court of law.

3. FIXED DEPOSIT RECEIPTS
(i) Electronic Fixed Deposit receipt (“FDR”) will be sent to email id mentioned in the Application Form by depositor(s) by default. In the event customer requests for physical Fixed Deposit Receipts the same will be couriered to the depositor(s) at the address registered with BFL. In case there is any mismatch in data fetched from CKYCR and actual current address or data registered with BFL post booking of deposits, then the depositor will have to update his/her details with BFL
(ii) Deposit(s) are not transferable and non-assignable. Third party lien on deposit is NOT permitted under any circumstance except in favour of the holding/subsidiary and /or Group Companies of BFL.
(iii) In the event of loss or destruction or mutilation of an FDR (for any reason) and upon request received by BFL, FDR will be re-issued by BFL in lieu of lost FDR. Notwithstanding the re-issuance of FDR(s), the obligation of BFL is limited to the single FDR only, against which the money has been received by BFL. Under all circumstances, mere re-issuance of FDR(s) by BFL against single deposit of money will not result in duplication of payment or higher liability on the part of BFL. All expenses, if any, incurred in this connection will be borne by the depositor(s).

4. INTEREST:
(i) Individual applicants or primary applicants falling under special category of Senior citizens (i.e. persons more than 60 years of age, subject to provision of proof of age) will be eligible for additional interest at the rate of 0.25% p.a. on Deposit amount of up to ­5 (five) crore;
(ii) Rate of interest for deposits for an amount more than INR ­5 Crore may vary from the published card rate and will be decided on case to case basis, subject to the cap on rate of interest specified by the RBI.
(iii) Subject to approval of Application by BFL, interest payable on a Deposit will be calculated from (a) the date of application made through BFL portal and associate partner portals, where payment gateway/payment aggregator enabled by BFL, is used for making payment by the Customer; (b) the date receipt of the funds by BFL where the deposit is placed through associate partner portal and payment gateway/payment aggregator enabled by such associate partners are used; and (c) the date of realization of amount by BFL, where the payment is made by cheque or any other mode. .

The dates for interest payments are as follows:
a. In case of non-cumulative Deposits:
1. Monthly interest payments: Last date of month
2. Quarterly interest payments: 31st March, 30th June, 30th September and 31st December
3. Half yearly interest payments: 31st March and 30th September
4. Annual interest payments: 31st March
b. In case of Cumulative Deposits: Date of maturity of the Deposit
c. Interest for part period (i.e. other than complete month/quarter/half year/year) under Non-Cumulative Deposit Schemes will be calculated from the date of Deposit till the last day of the immediate next interest payment date. If a Deposit is made within a period of 30 (thirty) days prior to any of the interest payment dates, the interest for the part period will be paid on the next interest payment date.
(vi) Once the applicant selects the Deposit scheme specified in the Application at the time of opening the Deposit i.e. the scheme, tenor and interest payout frequency, the applicant will not have the option to subsequently revise the Deposit scheme. In the event the scheme is not indicated in the Application received by the Company, the Deposit will suo-moto be opened under cumulative deposit scheme for a period of 60 (sixty) months. In case the applicant opts for non-cumulative deposit option without indicating the interest payout frequency the Application, the Deposit will be treated as placed under the annual interest payout frequency scheme.
(vii) The interest will be paid through National Electronic Funds Transfer (NEFT)/ Real Time Gross Settlement (RTGS) only. In case of any rejection of such instruction for NEFT / RTGS due to any reason, the Company will dispatch interest cheque, in favour of the first applicant in the Application, within 10 (ten) days of the receipt of intimation by the Company from its bank about such rejection
(viii)Customer may be offered an additional interest rate on a case to case basis (within the scope of Regulatory guidelines) at the discretion of BFL management.
(ix) For funds received by BFL on or after 12 May 2021, new rates will be applicable. In cases where applications are received by BFL before 12 May 2021, while corresponding funds are received by BFL on or after 12 May 2021, customer will have to sign a declaration of acceptance of new rates of interest or may also send us a declaration of acceptance from his registered email ID.

5. NOMINATION:
(i) Nomination facility is available to the applicants. For availing the nomination facility, the applicant(s) is/are required to furnish the nominee details in this application form or applicant will be required to submit a duly filled ‘Form DA 1’ as prescribed by Reserve Bank of India. The “Form DA 1” is available in the branches of the Company & Company’s website at https://www.bajajfinserv.in/fixed-deposit-terms-and-conditions (“website”). Nomination made by the depositor/applicant(s) in the manner prescribed by the Company, shall be binding on all the joint depositor/applicant(s).
(ii) Upon request of the depositor(s), the Company will arrange to send forms for cancellation of nomination (Form DA 2) and variation of nomination (Form DA 3).
(iii) In the event nomination is not made by the depositor, the Deposit proceeds will be transferred to the legal heirs or legal representatives of the deceased depositor(s), as the case may be, upon submission of Succession Certificate/Letter of Administration/Probate of the Will to the satisfaction of the Company.

6. PAYMENT AND RENEWAL OF DEPOSIT
(I) The interest payouts, premature withdrawal proceeds and maturity proceeds(unless it receives any request for renewal within the prescribed period before the date of maturity, will be made in the bank account mentioned in the Application or such other bank account intimated by the deposit holder(s) (jointly, if applicable), in writing, to the Company from time to time by way of NEFT or RTGS. In case of any rejection of such instruction for NEFT / RTGS due to any reason, the Company will dispatch the cheque of such payment in favour of the Depositor in case of single Depositor or in favor of all the Depositors, in case of joint deposit, within 10 (ten) days of the receipt of intimation by the Company from its bank about such rejection .
(ii) In the event of death of the sole depositor and/or all the joint depositors, all payment(s) in relation to the Deposit including interest thereon will be made to the nominee appointed by the depositor(s) on production of proof of identity and on execution of such other documents as may be required by the Company in this regard. In absence of nomination, the Deposit amount including interest thereon will be transferred to the legal heirs or legal representatives of the deceased depositor(s), as the case may be, upon submission of Succession Certificate/Letter of Administration/Probate of the Will to the satisfaction of the Company. In the case of joint depositors, the nominee’s right to receive the amount of Deposit including interest shall arise only after the death of all the depositors. The nominee, in the event of death of the depositor(s) would receive such amounts in trust for the legal heirs.
(iii) The request for renewal of the Deposit signed or consented by all the Deposit holders shall reach BFL either through physical application or through BFL Online Portal at least 3 business days before maturity date of deposit. Renewal of Deposits will be subject to the rate of interest and other terms and conditions prevailing on the date of renewal. FDR of the existing deposit may not be required at the time of renewal of deposits, as it stands null & void post its maturity date.
(iv) In case where the depositor has opted for renewal of deposit through Application submitted for opening of Deposit, however, wishes to cancel the renewal request, the cancelation request signed or consented by all the Deposit holders , shall reach the Company atleast 3 (three) business days before maturity date of the Deposit.
(v) The written request for renewal of Deposit or cancelation of Deposit can be submitted at nearest branch of the Company or sending by post/ courier to the Company or to the independent financial advisors or national distributors empaneled with the Company. No requests shall be accepted post the above-mentioned period.

7. PREMATURE WITHDRAWAL:
(I) Premature withdrawal is permitted provided the Deposit has completed more than 3 months from the date of issuance. The death claims will be settled in accordance with the terms and conditions applicable to Deposit.
(II) A request form for premature withdrawal will have to be given by depositor(s).
(III) Deposits may be withdrawn prior to the date of maturity subject to the regulations of the RBI in this regard. The premature withdrawal of Deposit (including death cases) is subject to the following conditions:
(a) Up to 3 (three) months from date of Deposit: Withdrawal of the Deposit is not permitted. However, in the event of death of a depositor, the Company may repay the Deposit prematurely (irrespective of the lock in period) to the surviving depositor (which in the case of joint holders will be the first in the sequence of applicants in the Application) or to the nominee/ legal heir(s) of the deceased depositor, upon the request of surviving depositor/s/nominee/legal heir, as the case may be, and subject to submission of proof of death and other requisite documents to the satisfaction of the Company.
(b) After 3 (three) months but before 6 (six) months from the date of the Deposit: Withdrawal of the Deposit will be permitted; however, interest shall not be payable.
(c) After 6 (six) months but before the date of maturity of the Deposit: Withdrawal of the Deposit will be permitted. Interest shall be payable at a rate which is 2% lower than the rate specified for the period during which the deposit has been opened. In case no rate is specified for the Deposit period, interest rate payable shall be 3% lower than the lowest rate being offered by the Company.
(d) Income tax wherever applicable and deducted at source and remitted to the applicable tax authority by the Company on behalf of the depositor, before premature withdrawal of Deposit(s), shall not be refunded in any circumstance whatsoever.

8. LOAN AGAINST PUBLIC DEPOSIT:
‘Loan against the public deposit’ facility may be provided to depositors against the Deposit(s) placed with the Company, subject to fulfilment by depositor(s) of the eligibility criteria and other conditions, as may be prescribed by the Company in this regard. Loan can be given against deposit only after 3 months from the date of Deposit. The interest rate on such loans shall be 2% higher than the rate of interest provided on the Deposit. The loan amount cannot exceed 75% of Deposit amount. At the time of availment of loan against the public deposit, physical or scanned copy of the FDR needs to be submitted. The loan amount will be credited in the same bank account registered with BFL.

9. OTHER TERMS
I. Income-tax, wherever applicable, will be deducted at source on the Deposit in accordance with Section 194-A of the Income Tax Act, 1961 except where appropriate Certificate/form as prescribed under the Income Tax Act, 1961 (refer to Form 15G/H enclosed with the application form) is furnished to Company’s registered office at least 2 (two) months prior to the due date of payment of interest. At present tax is deductible if the aggregate amount of interest paid or payable during the financial year exceeds ¬INR 5,000/- (Rupees five thousand only). It is the sole responsibility of the applicant to provide the Company with a fresh Form 15G/H for every assessment year. Non-submission of relevant form or submission of incomplete/incorrect form may result in tax deduction and BFL will not be responsible for the same. Applicant can also fill Form 15 G/H through Experia. If the aggregate amount of interest paid or payable during the financial year exceeds ¬INR ¬2,50,000 (Rupees two lacs fifty thousand only) for non senior citizens and ¬INR 5,00,000 (Rupees five lacs only) for senior citizens (Age 60 years or above) , then form 15 G/H will not be valid and tax will be deducted and paid to tax authority . The extant tax regulations/guidelines as amended from time to time will be applicable. Form 15G/H submitted with the Application will be applicable for all the deposits made under the same plan during the financial year. For each financial year, Applicant will have to submit separate Form 15G/H.
II. In the event of cheque bounce, the cheque will be sent back to applicant’s address mentioned on the Application within 15 (fifteen) days. For all RTO (Return to Origin) cheque cases, the cheque will be held by the Company until the validity of the instrument, post which said cheque will be destroyed without further notice to the applicant.
III. In the event of death of any of the joint depositors, any modification in the names of the deposit holders appearing on the FDR and/or change in the bank account where interest and/or maturity proceeds are to be credited, shall be effected only upon submission of a notarized copy of the death certificate in the name of the deceased depositor along with appropriate instruction, to the Company, issued jointly by all the surviving deposit holder(s), in writing, to carry out such modifications.
IV. The Company will send all communications to the deposit holder(s) in electronic form from time to time at the email ID mentioned in the Application and through SMS on the registered mobile number. In case of failure in transmission of such communication, the Company will send physical copy of such communication within 10 (ten) days of such failure of transmission.
V. Any change in the address, email ID, bank account etc., mentioned in the Application shall be effected by the Company only on the basis of written instruction signed or consented by all the concerned deposit holder(s).
VI. The Company reserves the right to alter, amend or delete any or all the conditions stipulated above or to vary them in special cases or accept Deposits only for such periods as it may decide from time to time and to repay the Deposits prematurely before the date of maturity.
VII. The advertisement inviting fixed deposits mentioned in Annexure below shall form part of the Application.
VIII. Disputes, if any, arising in connection with the Deposit, will be subject to the exclusive jurisdiction of Courts at Pune.
IX. Requests related to any change in bank details should reach us at least 7 days prior to the interest or maturity payment

10. HOW TO APPLY
(I) Applicant(s) are requested to go through the terms and conditions as mentioned above. These terms and conditions form part of the Application.
(ii) The Application form should be duly filled and signed by the applicant(s). The amount should be deposited by online transfer or by a CTS compliant account payee cheque drawn in favour of ‘Bajaj Finance Ltd. for FD of <1st depositor name>’ clearly stating the deposit amount alongwith the application number on the rear side of the cheque.
(iii) In case of Deposit is being placed through cheque, Application form alongwith the cheque and required documents may be submitted with any of Company’s branch or authorised distributors. In case Deposit is being placed through direct credit to the BFL investment account, Application form alongwith copy of bank statement showing debit of funds and other required documents may be submitted with any of Company’s branch or authorised distributors. For any investment queries or information about our affiliated partner websites, write to us at [email protected]
(iv) Introduction of all the applicants is compulsory. Such introduction may be by any one of the following methods:
(a) The applicant can also obtain introduction from any other fixed deposit holder with BFL. The said existing depositor will be required to disclose his/her name and fixed deposit receipt number and provide his/her signature, as per specimen signature in BFL records;
(b) The applicant can also introduce himself/herself by producing original of any one of the documents (which contains the photograph of the applicant) mentioned in the list of Mandatory and Officially Valid Documents provided in the Application and a recent coloured photograph to BFL for verification. The aforesaid coloured photograph and a copy of such document produced is required to be attached with the Application.

11. IMPORTANT INFORMATION
(I) In the event of non-repayment of the Deposit or part thereof as per the terms and conditions of such Deposit, the depositor may approach National Company Law Tribunal, Mumbai Bench at: 6th Floor, Fountain Telecom, Building 1, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra 400001.
(ii) In case of any deficiency by the Company in servicing its Deposit, the depositor may approach the National Consumers Disputes Redressal Forum, the State Level Consumers Disputes Redressal Forum or the District Level Consumers Disputes Redressal Forum for relief

For any queries, visit our website https://www.bajajfinserv.in/reach-us . Select the <Email Us> tab and follow the directions to get your query resolved. You may also call BFL Customer Care at 8698010101 or visit our nearest branch. This is not a toll-free number and normal call charges will be applicable.

Bajaj Finance Limited
CIN-L65910MH1987PLC042961
Registered Office: Akurdi, Pune 411 035
Corporate Office: 4th Floor, Bajaj Finserv Corporate Office,
Off Pune Ahmednagar Road, Viman Nagar, Pune 411014

FIXED DEPOSIT SCHEMES

‘FAAA/Stable’ rating by CRISIL AND ‘MAAA (Stable)’ rating by ICRA.

The abovementioned ratings indicate highest degree of safety with regard to timely payment of interest and principal on the instrument.

——————————————————————————-

Rate of Interest per annum valid up to ₹5 Crores per deposit (w.e.f. 01st December 2021)

Tenor in months Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 5.65% 5.51% 5.53% 5.57% 5.65%
24 – 35 6.40% 6.22% 6.25% 6.30% 6.40%
36 – 60 6.80% 6.60% 6.63% 6.69% 6.80%

a) Minimum amount for opening a Fixed Deposit (“hereinafter referred as “Deposit”) with BFL, is ₹25000/-.

b) For the locations mentioned in point M(2)below, the minimum amount for opening a Deposit) is ₹5000/-(not eligible for online investment).

c) Individual depositor or primary depositor, falling under special category of Senior citizens (i.e. persons more than 60 years of age, subject to provision of proof of age) will be eligible for additional interest at the rate upto 0.25% p.a. per Deposit for an amount up to ₹5 (five) crore.

d) Rate of interest for Deposits for an amount more than ₹5 Crore per Deposit may vary from the published card rate and will be decided on case to case basis but within the cap on Rate of Interest specified by the Reserve Bank of India.

e) In case of online application for Deposit through BFL online link, the Deposit will be booked upon receipt of the funds by the Company from the customer and hence the Deposit will be booked within 5 days from date of the application. Subject to approval of Application by BFL, interest payable on a Deposit will be calculated from (i) the date of application made through BFL portal and associate partner portals, where payment gateway/payment aggregator enabled by BFL, is used for making payment by the Customer; (ii) the date receipt of the funds by BFL where the deposit is placed through associate partner portal and payment gateway/payment aggregator enabled by such associate partners are used; and (iii) the date of realization of amount by BFL, where the payment is made by cheque or any other mode.

f) The Company will make repayment of Deposit on the date of maturity of such Deposit unless it receives any request for renewal within the prescribed period before the date of maturity. The payment will be made through NEFT or RTGS or account payee cheque (in case of rejection of transfer by NEFT/RTGS) to the bank account of the depositor mentioned in the Deposit application form.

g) The request for renewal of the Deposit signed or consented by all the deposit holders shall reach the Company either through physical application or through BFL Online portal at least 3 business days before maturity date of deposit. The written request can be submitted at nearest branch of the Company or sending by post/ courier to the Company or to the independent financial advisors or national distributors empaneled with the Company. No requests for renewal of Deposit shall be accepted post the above-mentioned period. Renewal of Deposits will be subject to the rate of interest and other terms & conditions prevailing on the date of renewal. Fixed Deposit Receipt (“FDR”) of the existing Deposit may not be required at the time of renewal of deposits as it stands null & void post its maturity date.

h) In case where the depositor(s) has opted for renewal of Deposit through Deposit application form, however, wishes to cancel the renewal request, the depositor(s) should submit a specific written request so as to reach the Company atleast 3 (three) business days prior to maturity date of the Deposit. The written request can be submitted at nearest branch of the Company or sending by post/ courier to the Company or to the independent financial advisors or national distributors empaneled with the Company. No requests shall be accepted post the above-mentioned period.

Particulars to be furnished as per the Non-Banking Financial Companies & Miscellaneous Non-Banking Companies(Advertisement) Rules, 1977 as amended.

A. Name of the Company: Bajaj Finance Ltd.
B. Date of incorporation: 25th March 1987

  1. Profits/Dividends:

Profits of the Company before and after making provisions for tax, for the three financial years immediately preceding the date of the advertisement and the dividends declared by the Company in respect of the said years.

    (₹in Crore)
Financial Year

ended on

PROFIT (Standalone) DIVIDEND %
Before Tax After Tax
31.03.2019 6,035.30 3,890.34 300
31.03.2020 6,808.13 4,881.12 500
31.03.2021 5,362.88 3,955.51 500

D. Brief particulars of the management of the Company:
The Company is managed by the Managing Director, subject to the control and supervision of the Board of Directors. The Managing Director is entrusted with necessary powers for managing the business and affairs of the Company.

  1. Names, addresses and occupations of Directors:
Name Address Occupation
Shri Sanjiv Bajaj

(Chairman)

Bajaj Vihar Colony, Mumbai- Pune Road, Akurdi, Pune 411035 Industrialist
Shri Madhur Bajaj

(Non-Executive Director)

Bungalow No 3 Bajaj Vihar

Colony Mumbai-Pune Road,

Akurdi, Pune 411035

Industrialist
Shri Rajeev Jain

(Managing Director)

D-2, Ivy Glen, Marigold Premises,

Kalyani Nagar, Pune 411014

Service
Shri Rajiv Bajaj

(Non-Executive Director)

34/35, Yog Koregaon Park,Lane No. 2,

Pune 411001

Industrialist
Shri Dipak Poddar

(Independent Director)

171, Brij Kutir, Rungta Lane,

Off. Nepean Sea Rd,

Mumbai 400006

Industrialist
Shri Ranjan Sanghi

(Independent Director)

Flat No 21, Mistry Court

4th Floor, Dinshaw Vachha Road,

Opp CCI Club, Churchgate,

Mumbai 400020

Business
Shri D J Balaji Rao

(Independent Director)

D-103, Adarsh Residency 47thCross,

8th Block, Jayanagar,

Bangalore 560082

Professional
Dr. Gita Piramal

(Independent Director)

Piramal House,

61, Pochkhanwala Road, Worli,

Mumbai 400025

Business
Dr. Naushad Forbes

(Independent Director)

74 Koregaon Park, Lane No. 3,

Pune – 411001

Business
Shri Anami Narayan Roy

(Independent Director)

62 Sagar Tarang, Khan Abdul Gaffar Khan Road,

Worli Sea Face,

Mumbai – 400030

Retired Civil Servant
Shri Pramit Jhaveri

(Independent Director)

21C Woodlands Peddar Road, Mumbai – 400 026 Business

 

  1. Summarised Financial Position of the Company (standalone) as appearing in the two latest audited balance sheets:

(₹ In Crore)

Particulars As at 31 March 2021 As at 31 March 2020
ASSETS

 

Financial assets

Cash and cash equivalents

Bank balances other than cash and cash equivalents

Derivative financial instruments   Trade receivables

Loans

Investments

Other financial assets

Total financial assets

 

Non-financial assets

Current tax assets (net)

Deferred tax assets (net)

Property, plant and equipment

Capital work-in-progress

Intangible assets under development

Intangible assets

Other non-financial assets

Total non-financial assets

 

Total assets

 

 

 

1,383.63

 

2.13

0.00

720.10

1,13,089.94

20,169.12

487.33

1,35,852.25

 

 

155.07

919.21

972.44

7.07

43.99            254.76

134.10

2,486.64

 

1,38,338.89

 

 

 

674.53

 

4.83

171.76

867.18

1,13,417.08

20,138.98

349.51

1,35,623.87

 

 

204.57

847.61

1,016.16

0.00

0.00            211.98

99.38

2,379.70

 

1,38,003.57

LIABILITIES AND EQUITY

 

Liabilities

Financial liabilities

Derivative financial instruments

Payables

Trade payables

-Total outstanding dues of micro enterprises and small enterprises

-Total outstanding dues of creditors other than micro enterprises and small enterprises

 

Other payables

-Total outstanding dues of micro enterprises and small enterprises

-Total outstanding dues of creditors other than micro enterprises and small enterprises

 

Debt securities

 

Borrowings (other than debt securities)

 

Deposits

Subordinated debts

Other financial liabilities

 

Total financial liabilities

 

Non-financial liabilities

Current tax liabilities (net)

Provisions

Other non-financial liabilities

 

Total non-financial liabilities

 

Equity

Equity share capital

Other equity

Total equity

 

Total liabilities and equity

 

 

 

137.87

 

 

0.27

 

 

676.62

 

 

 

 

 

191.08

 

 

43,071.71

 

 

27,092.09

 

25,803.43

          3,898.61

743.65

 

101,615.33

 

 

172.78

136.56

475.48

 

784.82

 

 

120.32

35,818.42

35,938.74

 

1,38,338.89

 

 

 

 

 

 

 

 

0.30

 

 

636.76

 

 

 

 

 

179.46

 

 

41,713.77

 

 

36,923.32

 

21,427.10

          4,141.75

669.90

 

105,692.36

 

 

52.10

78.87

367.03

 

498.00

 

 

119.99

31,693.22

31,813.21

 

1,38,003.57

 

Contingent Liabilities (Standalone)

Particulars As at 31 March 2021 As at 31 March 2020
Disputed claims against the Company not acknowledged as debts

 

VAT matters under appeal

 

ESI matters under appeal

 

GST / Service tax matters under appeal

  – On interest subsidy

  – On penal interest/ charges

  – On others

 

Income tax matters:

–   Appeals by the Company

Appeals by the Income Tax department

 

51.98

 

4.29

 

5.14

 

 

1,905.44

237.25

6.42

 

 

0.00

0.28

 

44.18

 

4.39

 

5.14

 

 

1,971.65

223.15

6.22

 

 

0.32

0.24

 

 ( In Crore)

G.

a)

Amount which the Company can raise by way of Deposits as per Non-Banking Financial Companies Acceptance of Public Deposits Reserve Bank) Directions, 2016    49,257.75
b) The aggregate of deposits actually held as on 31.03.2021 25,803.43

H. The aggregate dues from the facilities, both fund and non-fund based, extended to, the companies in the same group or other entities or business ventures in which the Director/Company are holding substantial interest are ₹52.55 Crore (Bajaj Housing Finance Ltd. – ₹5.36 Cr, Bajaj Allianz Life Insurance Company Ltd. – ₹4.51 Cr, Bajaj Allianz General Insurance Company Ltd. – ₹34.22 Cr, Bajaj Finserv Direct Ltd. – ₹0.25 Cr, Bajaj Finserv Health Ltd. – ₹7.70 Cr, Bajaj Auto Ltd. – ₹0.23 Cr, Hind Musafir Agency Ltd. – ₹0.07 Cr, Bajaj Electricals Ltd. – ₹0.02 Cr, Jamnalal Sons Pvt. Ltd. – ₹0.19 Cr)

I. The Company has no overdue deposits other than unclaimed deposits.

J. The Company declares as under:

i) The Company has complied with the provisions of the directions applicable to it.
ii) The compliance with the directions does not imply that the repayment of Deposits is guaranteed by the Reserve Bank of India.
iii) The deposits accepted by the Company are unsecured and rank pari passu with other unsecured liabilities.
iv) The deposits solicited by the Company are not insured.
v) The Financial position of the Company as disclosed and the representations made in the deposit application form are true and correct. The Company and its Board of Directors are responsible for the correctness and veracity thereof. The financial activities of the Company are regulated by Reserve Bank of India. It must, however, be distinctly understood that Reserve Bank of India does not undertake any responsibility for the financial soundness of the Company or for the correctness of any of the statements or the representations made or opinion expressed by the Company and for repayment of deposits/ discharge of liabilities by the Company.

K. The deposits shall also be subject to the terms and conditions as per the deposit application form.

L. Deposits may be withdrawn prior to the date of maturity subject to the regulations of the Reserve Bank of India in this regard. Please note that premature withdrawal of Deposit (including death cases) is subject to the following conditions:

a) Upto 3 months from date of deposit: Withdrawal is not permitted.
b) After 3 months but before 6 months: Interest shall not be payable.

c) After 6 months but before the date of maturity: The rate of interest shall be 2% lower than the rate specified for the period during which the scheme has run. In case of no rate being specified for the deposit period, interest rate payable shall be 3% lower than the lowest rate offered by the Company.

The Business carried on by the Company and its subsidiaries with details of branches or units, if any:

1. Business carried on by the Company and its branches:
Providing consumer finance ranging from vehicle loans, consumer durable financing, personal loans, loan against property, Home Loans, construction equipment financing, small business loans, loan against securities and infrastructure financing. The Company is having its Branches at Agra, Ahmedabad, Ahmednagar, Ajmer, Akola, Akot, Alappuzha, Allahabad, Ambala, Amravati, Amreli, Amritsar, Anand, Anantpur, and Ankaleshwar, Asansol, Aurangabad, Bagalkot, Bangalore, Baramati, Bardoli, Bareilly, Baroda, Barshi, Belgaum, Bellary, Bhandara, Bharuch, Bhatinda, Bhavnagar, Bhilai, Bhiwandi, Bhopal, Bhubaneshwar, Bhuj, Bidar, Bijapur, Bikaner, Bilaspur, Bokaro, Bolpur, Borsad, Calicut, Chalisgaon, Chandigarh, Chandrapur, Chennai, Chhindwara, Chikhli, Chiplun, Chitradurga, Chittaranjan, Chopda, Cochin, Coimbatore, Cuddalore, Cuttack, Dabhoi, Dahod, Davangere, Dehradun, Dewas, Dhanbad, Dharapuram, Dharwad, Dhule, Dindigul, Durgapur, Eluru, Erode, Gandhidham, Goa, Gokak, Gulberga, Guna, Guntur, Gwailor, Haldia, Halol, Hassan, Haveri, Himatnagar, Hoshangabad, Hoshiarpur, Hospet, Hubli, Hyderabad, Indore, Jabalpur, Jagadhri, Jaipur, Jalandhar, Jalgaon, Jalpaiguri, Jammu, Jamnagar, Jamner, Jamshedpur, Jodhpur, Junagadh, Kadi, Kaithal, Kakinada, Kalka, Kannur, Kanpur, Kapurthala, Karad, Karaikudi, Karnal, Karunagappally, Karur, Karvar, Katni, Khamgaon, Khandwa, Kharagpur, Kolar, Kolhapur, Kolkata, Kollam, Kopergaon, Korba, Kota, Kottayam, Kurnool, Kurukshetra, Latur, Lucknow, Ludhiana, Machilipatnam, Madurai, Mandya, Mangalore, Mapusa, Margao, Mehsana, Moga, Morbi, Mumbai, Mysore, Nabha, Nadiad Nagarcoil, Nagpur, Namakkal, Nanded, Nandurbar, Nashik, Navsari, Nellore, New Delhi, Palanpur, Pandharpur, Panipat, Patiala, Patna, Pen, Phagwada, Pimpalgaon, Pollachi, Pondicherry, Pune, Puttur, Raichur, Raipur, Rajahmundry, Rajgurunagar, Rajkot, Rajnandangaon, Rajpura, Ranaghat, Ranchi, Ratlam, Ratnagiri, Rewa, Rohtak, Ropar, Rourkela, Salem, Sangli, Satara, Satna, Sehore, Shimla, Shimoga, Siliguri, Sirsa, Solapur, Surat, Surendranagar, Tenali, Thiruvalla, Tirunelveli, Tirupati, Tirupur, Trichur, Trichy, Trivandrum, Tumakuru, Tuticorin, Udaipur, Udipi, Ujjain, Vadakara, Valsad, Vapi, Varanasi, Vidisha, Vijayawada, Vizag, Vizianagram, Wani, Warangal, Wardha, Warud, Washim, Yavatmal and all other branches mentioned in the official website page www.bajajfinserv.in=> Scroll to bottom of the webpage=>Contact us=>Visit our branch or by directly clicking https://www.bajajfinserv.in/branch-locator

2. Locations where minimum deposit size is ₹5000 (not eligible for online investment)
a) Gujarat – Bujetha, Kahanva, Khaparwada, Nandarkha, Sunevkalla, Amadpore, Asarma, Darapura, Dungri, Godavadi, Harangam, Kotambi, Sarvani, Vanskui, Balda, Bhathi Karambeli, Jitali, Umra, Barkal, Bhatlai, Kanyasi, Pardi Zankhari, Pathri, Karmal, Handod Chokdi.
b) Maharashtra – Baragaon Pimpri, Kharde, Manjrod, Jatoda, Mehergaon, Somthane, Odha, War, Shaha, Bhatane Javkheda, Lamkani, Chinchkhede, Shewade, Gondur, Dodi Bk, Raypur, Bhatpure, Warud MH, Dighawe, Vadjai, Indawe, Vinchur, Devbhane, Deur Budruk, Pandhurli.

  1. Business carried on by the subsidiaries of the Company:
S.No. Name of subsidiary Address of registered office Activity
1 Bajaj  Housing Finance Limited Bajaj  Auto   Ltd complex,

Mumbai-Pune Road, Akurdi,

Pune 411035

Housing Finance Business
2 Bajaj  Financial Securities Limited Bajaj  Auto   Ltd complex,

Mumbai-Pune Road, Akurdi,

Pune 411035

Stock broking and depository participant

The above text of advertisement has been issued on the authority and in the name of the Board of Directors and has been approved by the Board of Directors at its Meeting held on 20 July 2021 and copy of the same signed by Shri Rajeev Jain, Managing Director, who is authorized by the Board to sign on it’s behalf, has been delivered to the Reserve Bank of India for registration.

By order of the Board of Directors
for Bajaj Finance Limited

Rajeev Jain
Managing Director
DIN: 01550158

Pune
26 November 2021

Groww Terms of Use for Deposit Services

These terms of use (“T&Cs for Deposit Services”) mandate the terms on which You access and register on the Platform for availing the services in relation to recurring and/or fixed deposit schemes (“Deposit Services”) offered by partnered third party banks and non – banking financial institutions (“Financial Institutions”).

These T&Cs for Deposit Services are in addition to the Terms of Use and Privacy Policy of the Platform that apply to You when You access and register on the Platform for availing the Platform Services. The Terms of Use and T&Cs for Deposit Services shall be read harmoniously and in case of any conflict, the T&Cs for Deposit Services shall prevail solely in relation to the Deposit Services to the extent of conflict. All capitalised terms used herein however not defined, shall have the meaning ascribed to them under the Terms of Use and/ or the Privacy Policy. All information collected by the Platform to provide the Deposit Services will also be covered under the Privacy Policy.

Please read the T&Cs for Deposit Services carefully before registering on the Platform for such services, or accessing any material information in relation to the Deposit Services through the Platform. By accessing and using our Deposit Services You accept these T&C and agree to be legally bound by the same.
Deposit Services: The Company hereby grants You, a limited, non-exclusive, non-transferable, revocable license to use the Platform for the purposes of availing the Deposit Services from Neobillion Fintech Private Limited (“Neobillion”). The Deposit Services shall include communication with the User for verification, facilitating opening and closing of deposits offered by Financial Institutions, technological, non-financial customer support, information on various deposit schemes, sending promotional messages and renewal reminders, and facilitating other communication with them in respect of the services.

The User may approach Neobillion or the respective Financial Institution with whom they have opened their deposit scheme, for assistance in relation to non – financial support such as nominee change, address change, bank details change, etc. Neobillion shall have a right to partner with any financial institution as determined by Neobillion in its sole discretion from time to time.

User Undertaking: You hereby agree and acknowledge: (i) to promptly provide but preferably no later than 2 (two) days from the date of request, all KYC details (including identity proof, permanent account number (PAN) and address proof) and any other information as may be requested by Neobillion and/or the Financial Institution for providing the Deposit Services to You and undertaking the verification of the KYC. Neobillion reserves a right to request for additional information or documents from the User while providing the Deposit Services. You understand and agree that all such information and documents collected by Neobillion will be shared with the Financial Institution of Your choice; (ii) to provide complete, genuine and accurate information and documents to Neobillion for availing the Deposit Services and shall ensure that such information is not false, misleading or incorrect. In relation to the bank account being used for availing the Deposit Services, You hereby represent and warrant that the bank account is opened in Your name, You are authorised to operate such bank account and there are sufficient funds in such account for availing the Deposit Services; (iii) that the request for deposit schemes will be made in individual capacity only since, joint deposit schemes are not permitted through the Platform; (iv) the verification of Your KYC may take upto [5 (five)] business days and consequently, it may affect the date of creation of Your deposit and/or interest receivable on such deposits by You. (v) pay upfront fees which may be applicable from time to time.

Right of cancellation: Neobillion shall have a right to cancel the request received from the User for availing the Deposit Services if: (i) User fails to provide the KYC details and any other information requested for providing the Deposit Services within the stipulated time period; or (ii) User provides information which in the opinion of Neobillion or any of its affiliates, is incorrect, or misleading information or the bank account to be used for the Deposit Services is not a verified account of the User or (iii) User/depositor does not qualify under the eligibility criteria as setforth which may be amended from time to time.

Freezing of Account: In the event, Neobillion is of the opinion or informed about any fraudulent transaction/ violation of policies, Neobillion will have the exclusive right to block / freeze such account until further course of action.

Termination: In case of termination: (i) of Your Account or access to Platform in accordance with the Terms of Use; or (ii) of the contractual arrangement between Neobillion and the respective Financial Institution with whom You have opened the deposit scheme, which shall be intimated to You by Neobillion, You are requested to directly reach out to the respective Financial Institution for any assistance or support in relation to Your deposit schemes.

Disclaimer:

the information in relation to the deposit schemes including the interest rates offered by the Financial Institutions is received from the respective Financial Institution and is displayed on an “as is” basis on the Platform. The Company and/or Neobillion are not in any manner responsible for the accuracy, completeness of such information and any difference in the interest rate displayed or provided on the Platform and that is made available by the Financial Institution on the deposit schemes at the time of creation. The provision of the Deposit Services through the Platform and display of such information received from the Financial Institution shall not in any manner constitute any recommendation, advice or opinion being given by Neobillion or any of its affiliates in relation to the Financial Institutions or the deposit schemes;

the deposit schemes are being provided by the respective Financial Institution(s) selected by You through the Platform, the Company is enabling access to the Platform and Neobillion is facilitating the provision of Deposit Services to You. The Company, Neobillion or any of its affiliates, do not accept the deposits on their own accord and do not have any deposit schemes of their own. Neobillion or the Company are not in any manner handling the funds/payments of the Users towards the deposit schemes ;

Neobillion shall share the information and documents received from You for the deposit scheme(s) with the respective Financial Institution selected by You through secured channels. Further Neobillion shall hold / transfer / store such data as per their data privacy policy and share only to the extent as permissible under law. While Neobillion undertakes measures to ensure that such transmission is error free, however, it does not guarantee that the transmissions of Your details will always be secure or that unauthorized third parties will never be able to defeat the security measures taken by Neobillion. Neobillion assumes no liability or responsibility for disclosure of Your information due to errors in transmission, unauthorized third-party access, or other causes beyond its reasonable control;

the decision to accept or reject the request for the deposit schemes received from a User is that of the Financial Institution and such Financial Institution is also solely responsible for undertaking the due diligence of the User and for ensuring compliance with applicable laws in respect of creation (including maturity and redemption) of deposit scheme for the User. The Financial Institution may decide, in its sole discretion, to reject a request from a User to avail a deposit scheme, including in the event of (i) failure to satisfy KYC verification, as determined by the Financial Institution; (ii) insufficiency of funds in the bank account; or (iii) payment made from an account which the User is not authorised to operate. In the event that a deposit scheme is rejected or cancelled by a Financial Institution with whom the request was placed, the principal amount, if any transferred by the User will be refunded to the User without any interest in a reasonable time period. The Company nor Neobillion will be responsible or liable to the User or any third party, for any acts or omissions of the Financial Institution including delay, rejection or cancellation of the deposit scheme, any loss of money or damage caused to You or failure of the Financial Institution to refund the money collected from the User or any part thereof, breach of confidentiality or any applicable law, negligence of the Financial Institution or failure to perform any obligations with respect to the Deposit Services; and

The Company and/or Neobillion may use third party payment gateways to process the payment in respect of the Deposit Services and are therefore, not liable and responsible in any manner for any delay in processing the transactions, including any delay in credit of funds to the Financial Institutions from the User’s bank account or difference in the date of creation of deposit or the interest receivable on such deposits. In the event, the deposit is not registered with the respective Financial Institution for any reason whatsoever after the payment has been successfully made by the User, the entire amount will be refunded to the User without interest within a reasonable time period.

Indemnification: You agree to indemnify the Company, and/or Neobillion, its directors and employees from any losses, damages, penalties, claims (third party claims), costs and demands (including reasonable attorney fees and legal costs) arising out of breach or non-performance and/or non-observance of obligations, representations, warranties and covenants under the T&Cs for Deposit Services or due to Your acts or omissions or any misrepresentation with respect to the data or information provided by You, or Your violation of any rights of another, including any intellectual property rights.

Modifications

The Company and Neobillion retain the unconditional right to modify or amend these T&Cs for Deposit Services without any requirement to notify You of the same. It shall be Your responsibility to check these T&Cs for Deposit Services periodically for changes. Your acceptance of the amended T&Cs for Deposit Services shall signify Your consent to the changes and the agreement to be legally bound by the same.

Governing laws and Jurisdiction
These T&Cs for Deposit Services shall be governed and construed in accordance with the laws of India without reference to conflict of laws principles. All disputes arising in relation to shall be subject to the exclusive jurisdiction of court at Bangalore, India.

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