Stories
Bajaj Finance Hikes FD Interest Rates Offering Higher Returns to Customers.
- •Bajaj Finance has increased interest rates on fixed deposits by 15 to 40 basis points effective from October 7.
- •Interest rates for general customers on 31 to 60 months tenure have been raised from 7.40% to 7.75% per annum.
- •Senior citizens will now receive up to 8.15% annual interest on new FDs with a tenure of 31 to 60 months.
- •An additional benefit of 10 basis points will be provided to customers renewing their maturing fixed deposits.
- •The minimum investment for FD is Rs 15,000 and the maximum deposit under the revised structure is set at Rs 3 crore.
Key Questions Answered
Bajaj Finance has increased fixed deposit interest rates by 15 to 40 basis points across tenures ranging from 12 to 60 months. For general customers, rates for the 31 to 60 months tenure increased from 7.40% to 7.75% per annum, while 12 to 17 month tenures rose to 6.80% and 18 to 30 month tenures rose to 7%.
Senior citizens receive an additional interest rate of 0.40% over general customers, up from the previous 0.35% advantage. Following the revision effective October 7, senior citizens can earn an annual interest rate of up to 8.15% on 31 to 60 month FDs, 7.20% for 12 to 17 months, and 7.40% for 18 to 30 months.
Customers renewing their maturing fixed deposits receive an additional benefit of 10 basis points. With this renewal advantage, regular customers can secure maximum annual returns of up to 7.85% and senior citizens up to 8.25% on long-term FDs spanning 31 to 60 months.
