Bajaj Finance hikes FD rates by 20 bps across tenors; check latest rates here  

Mumbai-based Bajaj Finance has hiked fixed deposit rated by 20 basis points to ~7.50 per cent per annum with effect from July 1, 2022. 

“The fixed deposit rates on all investments starting at Rs 15,000 have now been revised, with effect from July 1 2022. All investor categories and tenors now receive higher FD interest rates up to 7.75 per cent p.a., hastening the growth of an investor’s capital”, said Bajaj Finance in a release.  

Customers below 60 years of age can earn upto 7.50 per cent per annum on an FD for duration of 44 months.  

Those with FDs maturing in 15 months will get 6.40 per cent; 6.50 per cent for FDs maturing in 18 months; 6.65 per cent for FDs maturing in 22 months; 7.05 per cent for FDs maturing in 30 months and 7.15 per cent for FDs maturing in 33 months.  

Those having fixed deposits for duration of 12-23 months get 6.20 per cent at maturity and those with FDs maturing in 24-35 months get 6.95 per cent. Rate change also impacts senior citizens, who can earn 7.65 per cent per annum for 36-60 months tenure and 7.20 per cent for a tenor of 24-35 months. 

Senior citizens get additional benefits of 0.25 per cent on all base rates, thus, a senior citizen will get 7.75 per cent per annum on an FD having a tenure of 44 months.  

Senior citizens having FDs maturing in 15 months will get 6.65 per cent and those having FDs maturing in 18 months will get 6.75 per cent. Those with FDs maturing in 22 months, 30 months and 33 months will get 6.90 per cent, 7.30 per cent and 7.40 per cent, respectively.