FD Rates: Bajaj Finance Limited, part of Bajaj Finserv Limited, has announced an increase in the interest on its FD. This new interest rate has come into effect from 3 April 2024. For senior citizens, FDs of 25 to 35 months have been increased by 60 basis points and FDs of 18 to 24 months have been increased by 40 basis points.
FD Rates: Bajaj Finance Limited, part of Bajaj Finserv Limited, has announced an increase in the interest on its FD. This new interest rate has come into effect from 3 April 2024. For senior citizens, FDs of 25 to 35 months have been increased by 60 basis points and FDs of 18 to 24 months have been increased by 40 basis points. According to the company, senior citizens will get interest up to 8.85% if they book 42 months FD digitally. At the same time, general investors will get interest up to 8.60% on this FD.
Best time to do FD
This is the best time to invest in Fixed Deposit because banks and NBFCs are offering higher interest. There has been no change in the repo rate in the recent RBI meeting, due to which most of the banks have not changed the interest rates of FD. If you are also planning to invest in FD then you can do it in Bajaj Finance FD. Bajaj Finance is offering 8.85 percent interest on FD to customers. These are the interest rates on FD.
These are also safe options
You need to understand that NBFC deposits and bank FDs cannot be considered equal in terms of safety. Therefore, only those people who can take some risk should invest in NBFC deposits. The interest rate of Post Office Senior Citizens Savings Scheme (SCSS) for senior citizens is also 8.2 percent. There is no risk of any kind in this.
You will get this much interest
According to the FD calculator given on Bajaj Finserv’s website (www.bajajfinserv.in/investments/fixed-deposit-calculator), by investing Rs 1 lakh in this FD of Bajaj Finance, you will get an annual rate of 8.60 percent after 42 months. You will get Rs 30,100. There will be an investment of Rs 1 lakh and interest of Rs 30,100. Senior citizens will get Rs 1,30,975 on maturity at the rate of 8.85 percent.
