Bajaj Finance Revises Passion Charges On Mounted Deposits (Wef twenty fifth April 2022)

investment

oi-Vipul Das

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

Bajaj Finance Revises Interest Rates On Fixed Deposits (Wef 25th April 2022)

Non-cumulative deposit schemes pay interest monthly, quarterly, semi-annually, and yearly, whereas cumulative deposit schemes pay interest at maturity together 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 appealing feature is that Bajaj Finance has been rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, indicating the health of your deposit safety.

Bajaj Finance FD Rates

Bajaj Finance fixed deposits can be opened for a tenure of 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 annual rate of interest applicable is 6.40% whereas an annual interest rate of 6.90% is applicable on cumulative deposits of 36 to 60 months. On non-cumulative deposits, a 6% pa interest rate is provided on 15-month deposits, 6.1 per cent on 18-month deposits, 6.25 per cent on 22-month deposits, 6.5 per cent on 30-month deposits, and 6.65 per cent cent on 33-month deposits, and 7.1 per cent on 44-month deposits. With effect from April 25, 2022, Bajaj Finance is giving 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 cent pa for elderly individuals over 60 years of age.

Tenor in months 12-23 24-35 36-60
Cumulative 5.75% pa 6.40% pa 6.90% pa
Monthly 5.60% pa 6.22% pa 6.69% pa
Quarterly 5.63% pa 6.25% pa 6.73% pa
Half-yearly 5.67% pa 6.30% pa 6.79% pa
Annually 5.75% pa 6.40% pa 6.90% pa

Special FD Rates For Cumulative Deposits

Tenor in months 15 18 22 30 33 44
At maturity 6% pa 6.1% pa 6.25% pa 6.5% pa 6.65% pa 7.1% pa

Special FD Rates For Non-Cumulative Deposits

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

Story first published: Monday, April 25, 2022, 3:55 PM [IST]

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