Bajaj Finance hikes FD interest rates; maximum rate at 8.85%; know what Rs 3 lakh, Rs 5 lakh, and Rs 10 lakh investments will give you

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FD rates 2024: Bajaj Finance on Monday (March 8, 2024) increased interest rates on fixed deposits (FDs) for its regular customers. Interest rates will rise by 45 basis points for FDs of 25- to 35-month tenures, 40 basis points for FDs of 18- and 22-month tenures, and 40 basis points for FDs of 30- and 33-month tenures. So, an increase of up to 35 basis points has been made.

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FD rates 2024: Non-banking financial company (NBFC) Bajaj Finance Limited has announced an increase in the interest rates on fixed deposits (FDs) for its regular customers as well as senior citizens. 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. The new interest rates will be effective from April 3 for deposits up to Rs 5 crore, according to press statement by the non-banking finance company (NBFC).

For Bajaj Finance‘s regular customers, interest rates have been increased up by 45 basis points for FDs of 25- to 35-month tenures, 40 basis points for FDs of 18- and 22-month tenures, 35 basis points for FDs of 30- and 33-month tenures. 

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According to the company, in its deposit schemes, senior citizens can get interest up to 8.85 per cent through digital booking for 42 months FD.

Whereas regular customers are getting interest up to 8.60 per cent on deposits of the same period.

Bajaj Finance Fixed Deposit Programme has got the highest stable rating of CRISIL with AAA/Stable and ICRA (ICRA) with AAA (Stable).

According to the calculator on the Bajaj Finance website, if a regular customer deposits Rs 3 lakh for 42 months and gets 8.60 interest rate on it, they will get Rs 100,429 as the interest and the maturity amount will be Rs 4,00,429. 

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According to the calculator on the Bajaj Finance website, if a regular customer deposits Rs 5 lakh for 42 months, they will get Rs 167,382 as the interest and the maturity amount will be Rs 6,67,382. 

According to the calculator on the Bajaj Finance website, if a regular customer deposits Rs 10 lakh for 42 months, they will get Rs 334,764 as the interest and the maturity amount will be Rs 8,34,764.