Bajaj Finance FD rates 2023: NBFC company hikes fixed deposit interest rate by 35 basis points

Bajaj Finance FD rates 2023: Several public and private sector banks have also hiked the fixed deposit (FD) interest rate after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points to 6.50 per cent last month.

Similarly, Bajaj Finance on March 4, 2023, announced to increase fixed deposit rate by 35 basis points.

The hiked rate is applicable on fixed deposits for tenures between 15 months to 23 months, with effect from March 4. 

The lending arm of Bajaj Finserv Limited is also offering FD interest rates of 8.20 per cent per annum to senior citizens for a tenure of 44 months, as per the official release said.

Besides, the bank last year also introduced a specific tenure scheme of 33 months where non-senior citizens can avail FD interest rates of up to 7.75 per cent per annum while senior citizens can earn up to 8.00 per cent per annum.

“The current interest rate environment allows investors to make the most of Fixed Deposits. Our revised interest rates on Fixed Deposits in the 44-month bucket are as high as 8.20%, enabling investors to gain from inflation-beating rates and liquidity. Booking an FD with Bajaj Finance is completely digitised and paperless, making it a simple and secure process for investors,” Executive Vice President - Fixed Deposits & Investments of Bajaj Finance Ltd. Sachin Sikka said.  

1.    Bajaj Finance FD Rates (% per annum) for Non-Senior Citizens, w.e.f. 04 March 2023 
A.      Regular Period

Also Read: SBI FD interest rates 2023: India's largest bank hikes fixed deposit interest rate

B.      Special Period 

2.      Bajaj Finance FD Rates (% per annum) for Senior Citizens, w.e.f. 04 March 2023 
A.      Regular Period 

B.      Special  Period 

A comparison of old and new interest rates for cumulative FD for Non-Senior Citizens, is given below: