Bajaj Finance hikes FD rates for most tenure by up to 60 bps

Bajaj Finance Ltd., part of Bajaj Finserv Ltd., one of the country’s largest financial services groups, has announced hikes in Fixed Deposits (FDs) rates across most tenures. Effective April 3, 2024, the company has increased FD rates for senior citizens by up to 60 basis points in the 25-to-35-month tenure and 40 basis points in the 18-to-24-month tenure.

Non-senior citizens’ rates have been increased by up to 45 basis points in 25-35-month tenures, 40 basis points in 18-22-month tenures, and 35 basis points in 30-33-month tenures. The move presents a chance for savers to secure stable and improved returns in current market conditions.

Senior citizens can continue to avail FD rates of up to 8.85% and non-senior citizens can take benefit of rates of up to 8.60%, by booking digitally in the 42 months tenure. As of March 31, 2024, Bajaj Finance had a customer franchise of 83.64 million and was the largest deposit-taking NBFC in India, with a deposits book of over Rs. 60,000 crore. Sachin Sikka, Head – Fixed Deposits & Investments at Bajaj Finance, said, “We continue to stay focused on offering them a better experience, more value and a safe option for their savings.”

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