FD rates 2024: For regular customers, interest rates will rise by 45 basis points for FDs of 25 to 35 months tenure, 40 basis points for FDs of 18 and 22 months tenure, 40 basis points for FDs of 30 and 33 months tenure. An increase of up to 35 basis points has been made.
FD rates 2024: Non-banking financial company (NBFC) Bajaj Finance Limited has announced an increase in the interest rates on deposits (FDs). The company has increased the interest rates for senior citizens by up to 60 basis points for FDs of 25 to 35 months and by 40 basis points for FDs of 18-24 months.
For regular customers, interest rates go up by 45 basis points for FDs of 25 to 35 months tenure, 40 basis points for FDs of 18 and 22 months tenure, 35 basis points for FDs of 30 and 33 months tenure Has been increased. This presents an opportunity for regular savers to secure stable and better returns.
According to the company, in its deposit schemes, senior citizens can get interest up to 8.85% through digital booking for 42 months FD. Whereas regular customers are getting interest up to 8.60% on deposits of the same period. These interest rates are effective from April 3, 2024 on deposits up to Rs 5 crore. Let us tell you, Bajaj Finance Fixed Deposit Program has got the highest stable rating of CRISIL with AAA/Stable and ICRA (ICRA) with AAA (Stable).
How much benefit is there on ₹5 lakh deposit?
According to the deposit scheme of NBFC, if a regular customer deposits Rs 5 lakh for 42 months, he will get Rs 7,65,134 on maturity. That means Rs 2,65,134 will be earned from interest. The interest rate for regular customers is 8.60%.
On the other hand, if a senior citizen deposits Rs 5 lakh for 42 months, then on maturity he will get Rs 7,74,551. That means Rs 2,74,551 will be earned from interest. The interest rate for regular customers is 8.85%.
