Bajaj Finance Increases FD Interest Rates to 8.85%: In 2024, Bajaj Finance Limited, an NBFC, would raise fixed deposit (FD) interest rates for regular and senior customers. The organization raised rates by up to 60 basis points on senior citizen FDs with maturities of 25 to 35 months and 40 basis points on 18-24 month FDs. The non-banking financing corporation (NBFC) declared in a press release that deposits up to Rs 5 crore will have new interest rates on April 3.
Standard Bajaj Finance FDs now have 45 basis point interest rate increases for 25–35 months, 40 basis points for 18–22 months, and 35 basis points for 30-33 months.
The corporation believes digital registration in its deposit plans can earn older citizens 8.85% interest on 42-month FDs.
Repeat clients’ deposits earn up to 8.60 percent interest during the same period.
CRISIL and ICRA gave the Bajaj Finance Fixed Deposit Programme maximum stable ratings of AAA/Stable and AAA (Stable).
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What is the benefit on deposits of Rs 3 lakh, Rs 5 lakh, and Rs 10 lakh?
The Bajaj Finance online calculator reveals that a normal customer who invests Rs 3 lakh for 42 months at 8.60 percent will receive Rs 100,429 in interest and Rs 4,00,429 at maturity.
According to the Bajaj Finance online calculator, a regular customer who invests Rs 5 lakh over 42 months will earn Rs 167,382 and mature with Rs 6,67,382.
On a Rs 10 lakh deposit for 42 months, the Bajaj Finance calculator forecasts an average consumer will earn Rs 334,764 in interest and Rs 8,34,764 at maturity.
