This NBFC has hiked FD interest rates by up to 60 bps; earn up to 8.85% on this fixed deposit tenure

Bajaj Finance, part of Bajaj Finserv, has announced hikes in fixed deposits (FDs) interest rates across most tenures. The new rates will be effective from April 3, 2024, according to the NBFCs press release issued on April 8 2024.

FD rates for general citizens
For non-senior citizens, the NBFC has hiked by 45 basis points for the 25–35 month tenure, 40 basis points for the 18 and 22 month tenure, and 35 basis points for the 30 and 33 month tenure.

Fixed Deposit Annualized rate of interest for non-senior citizens
Valid for deposits up to Rs.5 crore (w.e.f 03 Apr 2024)
Table 1
Bajaj Finance Digital FD	Cumulative		Non-Cumulative
(available only on Bajaj Finserv App	At Maturity		Monthly	Quarterly	Half Yearly	Annual
and web)	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
42 months	8.6		8.28	8.34	8.42	8.6
Table 2
Special period	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
18 months	7.8		7.53	7.58	7.65	7.8
22 months	7.9		7.63	7.68	7.75	7.9
33 months	8.1		7.81	7.87	7.94	8.1
44 months	8.25		7.95	8.01	8.09	8.25
Table 3
Regular period	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
12 - 14 months	7.4		7.16	7.2	7.27	7.4
15 - 23 months	7.5		7.25	7.3	7.36	7.5
24 - 35 months	7.8		7.53	7.58	7.65	7.8
36 - 60 months	8.1		7.81	7.87	7.94	8.1

Senior citizens
The company has increased FD rates for senior citizens by up to 60 basis points in the 25-to-35-month tenure and 40 basis points in the 18-to-24-month tenure. Senior citizens can continue to avail FD rates of up to 8.85% and non-senior citizens can take benefit of rates of up to 8.60%, by booking digitally in the 42 months tenure.

Fixed Deposit Annualized rate of interest for senior citizens
Valid for deposits up to Rs.5 crore (w.e.f 03 Apr 2024)
Table 4
Bajaj Finance Digital FD	Cumulative		Non-Cumulative
(available only on Bajaj Finserv App	At Maturity		Monthly	Quarterly	Half Yearly	Annual
and web)	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
42 months	8.85		8.51	8.57	8.66	8.85
Table 5
Special period	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
18 months	8.05		7.77	7.82	7.89	8.05
22 months	8.15		7.86	7.91	7.99	8.15
33 months	8.35		8.05	8.1	8.18	8.35
44 months	8.5		8.19	8.24	8.33	8.5
Table 6
Regular period	Cumulative		Non-Cumulative
	At Maturity		Monthly	Quarterly	Half Yearly	Annual
	(% p.a.)		(% p.a.)	(% p.a.)	(% p.a.)	(% p.a.)
12 - 14 months	7.65		7.39	7.44	7.51	7.65
15 - 23 months	7.75		7.49	7.53	7.61	7.75
24 - 35 months	8.2		7.91	7.96	8.04	8.2
36 - 60 months	8.35		8.05	8.1	8.18	8.35