Bajaj Finance FD Interest Rate

Term Deposit

• The minimum investment amount is ₹15,000.
• You can open it online.
• The tenure ranges from 12 to 60 months.
• Flexible interest payout - monthly, quarterly, semi-annually, and annually
• You can also receive a full payout (principal + interest) at maturity.
• Higher FD interest rates for senior citizens.
• Highest credit rating of ‘AAA’ from credit rating agencies like CRISIL and ICRA.
• Higher FD interest rates on the special tenure of 15, 18, 22, 30, 33, and 44 months.

Systematic Deposit Plan

• This monthly deposit plan is offered in two schemes - Single Maturity Scheme (SMS) and Monthly Maturity Scheme (MMS).
• The minimum investment is ₹5,000 per month.
• The tenure ranges from 12 to 60 months.
• You can opt for a monthly FD interest rate payout or full payout (principal + interest) at maturity.
• Higher FD interest rates on the special tenure of 15, 18, 22, 30, 33, and 44 months.
• Higher FD interest rates for senior citizens.
• Highest credit rating of ‘AAA’ from credit rating agencies like CRISIL and ICRA.

• Convenient: Bajaj Finance offers end-to-end online opening of fixed deposit accounts.
• Minimum amount: You can open FD with Bajaj Finance with a minimum of ₹15,000
• Safety: It enjoys a ‘AAA’ rating from credit rating agencies like CRISIL and ICRA.
• Senior citizens enjoy an additional interest rate over non-senior citizens.
• Bajaj Finance offers flexible interest payouts - monthly, quarterly, semi-annually, and annually.

• No tax benefit: You cannot avail tax deduction of up to ₹1.5 lakhs under section 80C of the Income Tax Act of 1961.
• No DICGC insurance: It is not covered under ₹5 lakhs Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance coverage.
• Not dynamic: Interest rates on Bajaj Finance Bank FD are not dynamic. So, it fails to overcome the risk of inflation.

• Resident Indians
• Sole proprietorships
• Partnership firms and companies
• Hindu Undivided Families (HUFs)
• Clubs, associations, societies, and family trusts

• PAN
• Any KYC Document: Aadhaar card/Passport/Driving licence/Voter ID

Below is a step-by-step guide to opening an FD account with Bajaj Finance:

1. Visit the Bajaj Finserv website and click on 'Open FD'.
2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
3. Fill in the investment amount, and choose the investment tenure and the payout frequency. Enter your PAN card and date of birth.
4. Complete your KYC: If you are an existing customer, confirm the details available, or edit to make any changes. For new customers, complete your KYC using Aadhaar.
5. A declaration will be displayed. Please read it carefully and agree to the terms and conditions. Enter your bank details and proceed to pay.
6. Complete your investment using NetBanking/UPI or NEFT/ RTGS.

Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) on your registered email address and as a link on your mobile number. You will receive an Electronic Fixed Deposit Receipt (e-FDR) to your email ID within 3 working days (subject to documents being in the correct order).

Bajaj Finance fixed deposit provides a premature withdrawal option to all depositors, which allows them to close the FD before the scheduled maturity date.

• Tax Deducted at Source (TDS) will be deducted from the interest accrued on the FDs if the interest is more than ₹40,000 (₹50,000 for Senior citizens) in a financial year.
• For Resident customers, If you have submitted your PAN card details, the deduction will be 10% per year on the interest. Without a PAN card, the bank will deduct 20% per year.