Interest rates

Bajaj Finance revises interest rates on term deposits (Wef 25 April 2022)

Investment

oi-Vipul Das

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Fixed deposit interest rates have been reviewed by Bajaj Finance Limited, a Non-Banking Finance Company (NBFC). Following the amendment, the maximum applicable rate is 7.1% for those under 60 and 7.35% for those over 60, as announced by the company today, April 25, 2022. Bajaj Finance term contracts are available to all Indian citizens over 18 years of age and offer both cumulative and non-cumulative interest payment alternatives.

Non-cumulative deposit systems pay interest monthly, quarterly, semi-annually and annually, while cumulative deposit systems pay interest at maturity with the principal amount and are compounded annually. Bajaj Finance fixed deposits can be opened with a minimum deposit of Rs 25,000 and up to Rs 5 Cr. The most attractive feature is that Bajaj Finance has been rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, indicating the health of your deposit security.

Bajaj Finance FD Rates

Bajaj Finance term deposits can be opened for 12 to 60 months and the account can be opened online. For cumulative deposits of 12 to 23 months, Bajaj Finance offers an interest rate of 5.75% pa, and for cumulative deposits of 24 to 35 the applicable annual interest rate is 6.40% while an annual interest rate of 6.90% is applicable on cumulative deposits of 36 to 60 months. On non-cumulative deposits, an interest rate of 6% per annum is granted on deposits at 15 months, 6.1% on deposits at 18 months, 6.25% on deposits at 22 months, 6.5 % on 30 month deposits and 6.65% on 30 month deposits. cent on 33-month deposits and 7.1% on 44-month deposits. Effective April 25, 2022, Bajaj Finance grants the following interest rate on fixed deposits of Rs 25,000 and up to Rs 5 Cr. The company offers an additional rate of 0.25% per year for seniors over the age of 60.

Duration in months 12-23 24-35 36-60
Cumulative 5.75% per year 6.40% per year 6.90% per year
Monthly 5.60% per year 6.22% per year 6.69% per year
Quarterly 5.63% per year 6.25% per year 6.73% per year
Semester 5.67% per year 6.30% per year 6.79% per year
Annually 5.75% per year 6.40% per year 6.90% per year

Special FD Rates for Cumulative Deposits

Duration in months 15 18 22 30 33 44
At maturity 6% per year 6.1% per year 6.25% per year 6.5% per year 6.65% per year 7.1% per year

Special FD rates for non-cumulative deposits

Duration in months 15 18 22 30 33 44
Monthly 5.84% per year 5.94% per year 6.08% per year 6.31% per year 6.46% per year 6.88% per year
Quarterly 5.87% per year 5.97% per year 6.11% per year 6.35% per year 6.49% per year 6.92% per year
Semester 5.91% per year 6.01% per year 6.16% per year 6.4% per year 6.54% per year 6.98% per year
Annually 6% per year 6.1% per year 6.25% per year 6.5% per year 6.65% per year 7.1% per year
Source: bajajfinserv.in

Article first published: Monday, April 25, 2022, 3:55 p.m. [IST]