[India], June 5 (ANI-BusinessWireIndia): Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv, has revised its Fixed Deposit (FD) rate of interest to 8.75 percent for senior citizen and 8.65 percent for the existing loan and FD customers. The company is offering this interest rate under the cumulative option and on an annualised basis under non-cumulative option. The new Fixed Deposit customers would get 8.40 percent instead of 8.10 percent earlier.
Bajaj Finance Fixed Deposit has been accorded 'FAAA/Stable' rating by CRISIL and 'MAAA (Stable)' rating by ICRA which indicates the highest degree of safety regarding timely payment of interest and principal on the instrument.
In 2014, Bajaj Finance Fixed Deposit business started with an approximate book size of Rs. 200 crore, which as of 31st March 2018 stands at Rs. 7,569 crore. This growth is testimony of the exceptional response by the retail investor community and financial advisors.
Bajaj Finance Limited has introduced a special tenor scheme of 15 months for deposits starting from Rs. 1,00,000. Wherein the interest rate is up to 7.85 percent for new customer and 8.20 percent for senior citizens.
Features and benefits of Fixed Deposit:
Higher interest rates for senior citizens
Rate of interest for senior citizens increased from 8.40 percent to 8.75 percent, an increase of 0.35 percent
Minimum deposit and flexible tenors
Customers can invest in Bajaj Finance Fixed Deposit with an amount starting from Rs. 25,000 and get flexible tenor options from 12 to 60 months
Special tenor of 15 months
Customer planning to invest for a short-term but with a higher amount, can opt for the 15 months deposit scheme and earn up to 7.85 percent on deposits starting from Rs. 1,00,000. (ANI-BusinessWireIndia)