The new interest rates will be applicable to new deposits and renewals of maturing deposits.
FDs below Rs 5 crore will be applicable for a period of 36 to 60 months
new Delhi. Bajaj Finance Limited, the loan and investment arm of Bajaj Finserv, has raised fixed deposit rates to 40 basis points for a time period of 36 to 60 months. The new interest rates will be applicable from February 1, 2021 on deposits below Rs 5 crore. Customers will get the benefit of new interest rates on new deposits and renewals of maturing deposits.
New rates of cumulative FD
| Time period (in months) | Earlier interest rates | New Interest Rates (applicable from February 1, 2021) |
| 12-23 | 6.10% | 6.15% |
| 24-35 | 6.30% | 6.60% |
| 36-60 | 6.60% | 7.00% |
Some such changes
were increased by 5 basis points for FDs between 12 months and 23 months, while for FDs between 24 months and 35 months, there was an increase of 30 basis points, between 36 and 60 months. The FD has been increased by 40 basis points. After the change in interest rates, customers on deposits between 36 months to 60 months will get the highest returns of up to 7 per cent, with non-senior citizens investing online up to 0.10 on the investment. For the same period of time, senior citizens can avail 0.25% additional rates on their FDs, and they will get a assured return of 7.25% on any investment.
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New rates of non-cumulative cumulative FD
| Time period (in months) | Monthly | Quarter | Half yearly | Annual |
| 12 – 23 | 5.98% | 6.01% | 6.06% | 6.15% |
| 24 – 35 | 6.41% | 6.44% | 6.49% | 6.60% |
| 36 – 60 | 6.79% | 6.82% | 6.88% | 7.00% |
Senior citizens will get benefit:
Talking about the benefits of interest rates based on the category of customers, senior citizens will get an additional benefit of 0.25%. Note that senior citizens investing in Bajaj Finance online FDs by any means will get a similar benefit (0.25% profit on interest rates). At the same time, customers booking FD directly through Bajaj Finserv website or app will get an additional benefit of 0.10%. According to the information, Bajaj Finance also provides you the facility to invest from home, and this online process does not require paperwork from beginning to end. In this way, investors can invest comfortably by staying at their home. In this process of online FDs, FDs are booked within minutes, and investors can easily take advantage of these attractive interest rates on FDs.
