Bajaj Finance increase its FD rates by up to 20 basis points

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Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased the interest rates on its fixed deposit (FD) programme by up to 20 basis points (bps), for tenors between 24 to 60 months (except 44 months). For the uninitiated, 100 basis points equals one percentage point. 

The revised rates on Bajaj Finance FDs are effective from June 14, 2022. The revised rates will be applicable to fresh deposits and renewals of maturing deposits. 

Post the revision, deposits between 36 months to 60 months will offer a cumulative return of 7.20%, while 24-35 month deposits offer 6.6% per annum. For the tenure from 12 to 23-month period, the interest rate on FD went up by 10 bps to stand at 5.85% per annum.

Senior citizens get an additional fixed deposit rate benefit up to 0.25% per annum on their deposits.

For special FDs – where one can choose specific tenors – too, the interest rates have gone up by 5-20 bps across all the available tenures. 

For a tenor of 44-month FD, customers below 60 years of age can get the interest rate of 7.35% p.a, while senior citizens for the same tenure can earn up to 7.60% p.a.

Bajaj Finance Fixed Deposit has the FAAA/Stable rating from CRISIL’s and MAAA (stable) rating from ICRA.

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