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Why are FD Interest Rates at Bajaj Finance Highly Beneficial for Indians?

The captivating FD interest rates are the leading source of its huge acceptability in our country. We treat FD as the safest and most popular type of investment.

You may enhance your investment gains if you understand the FD as a product and make the appropriate choice. FDs attract handsome transactions in the bank’s favour, and they become an asset in the bank account. Most banks and financial institutions sanction their customers’ deposits into their FDs.

Banks and non-banking financial companies (NBFCs) frequently provide valid tenure options to the user, ranging from seven days to ten years. Some NBFCs also offer long-term FDs with terms of up to 20 years. You can put money into a fixed-rate deposit with a tenure that matches your needs.

You can select an appropriate FD tenure based on your short-and long-term objectives. You can always prefer FDs that offer you the best returns to meet your financial goals. Traditionally, the Indian investor who trusts the security of FD accounts knows that they will receive a sizable sum upon maturity.

The most important criteria for FD business are the banks’ or NBFC’s trust and reputation in the financial market. Finance that has earned a Crisil FAA+ or CARE AA rating is considered the best to invest.

You May Read: Good Time to Park Your Money in Bank FDs

What is Bajaj Finance Ltd., and Why is It Suitable for the Investor?

Bajaj Finance Limited, the lending and investing division of the Bajaj Finserv group, is one of the most diverse non-banking financial companies in India, with over forty-six million customers. Bajaj Finance offers consumer loans, lifestyle finance, digital product finance, personal loans, and loans against property. Additionally, they provide small business loans, house loans, credit cards, two-and three-wheeler loans, commercial and SME loans, and loans against securities. Bajaj Finance also arranges gold loans, vehicle refinancing loans, and rural finance.

Bajaj Finance has been rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, showing that the security of your money is the most compelling aspect. Effective 2022-04-25 Bajaj Finance has raised FDs interest rates, and Bajaj Finance FD rates will now reach 7.35 percent per annum. The FD interest rate has been lifted for all types of investors and tenors, resulting in faster investment growth. Deposits made on or after 2022-04-25 will earn a greater interest rate. FDs are permissible at 7.1 percent for those under 60 years and 7.35 percent for those over 60 years.

What are the Most Prominent Features of FD Deposition at Bajaj Finance Ltd.?

Some remarkable features of the FD deposition are as below. 

  • Market fluctuations do not affect the interest rate, and after the lock-in period, you will receive a guaranteed return on maturity.
  • Crisil FAA+ or CARE AA rating provides the utmost safety and security for your money.
  • Customers cannot withdraw their money before the maturity period, but they may get the amount after the penalty.
  • There is a low or no risk of loss of principal.
  • One can easily renew the FD.
  • It is common for senior friends to get higher FD interest rates.
  • You can opt for a periodic interest payout to manage your monthly budget.
  • If your income is not taxable, you can avoid TDS by submitting the forms 15G or 15H (if you are a senior citizen)
Revised FD Rates

Revised FD Rates Effective from 2022-04-25 for below 60 Years. 

Chart for Bajaj Finance Fixed Deposit special Interest rate up to 7.35% 

Bajaj Finance Fixed Deposit

Senior friends earn an extra 0.25% interest on their savings. For a client over the age of 60 years, the amended FD rates are as mentioned above (effective from 2022-04-25).

Bajaj Finance Fixed Deposits: What Makes Them Attractive?

Bajaj Finance FD offers a slew of advantages for financing in one of India’s most reputable brands:

  • There is a minimum deposit size of Rupees 25,000 with no maximum amount permitted.
  • Investment Information and Credit Rating Agency of India Limited (ICRA) has given an MAAA/Stable rating to Bajaj Finance FD business, which indicates the extra safety of your money.
  • Credit Rating Information Services of India Limited (CRISIL) has assigned an FAAA/Stable rating to Bajaj Finance FD business, indicating that your money is completely secure.
  • The Bajaj Finance FD provides enticing interest rates.
  • Anyone may pick any tenure from 12 to 60 months, with varying interest rates to meet everyone’s demands.
  • Innovative Bajaj Finance offers outlets all around India where you can cash your money.
  • The Bajaj Finance Customer Portal provides access to all product data.
  • Senior friends can get special rates from Bajaj Finance. For elder denizens above the age of 60 years, Bajaj Finance will pay additional interest of up to 0.25 percent per annum on accounts up to 5 (five) crore.
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