To make the most of your investments in fixed deposits, it is important to look at the FD rates. Bajaj Finance has revised their FD rates with effect from December 22, 2022. The FD rates have been raised by up to 25 basis points for terms of 12 to 24 months. The new FD rates will apply to new deposits as well as renewals of maturing accounts up to Rs 5 crore.
Owing to the several hikes in the repo rate by the RBI, fixed deposit issuers have also increased the FD rates. Here, the Bajaj Finance Fixed Deposit stands out, as the issuer now offers FD rates as high as 7.95% per annum. This makes it an opportune time for risk-averse investors to lock in high rates and secure stable returns.
Read on to know how the FD rates and other features of this fixed deposit can work towards your financial growth.
Revised FD rates lead to greater returns
FD rates have a direct impact on how much you can earn from your fixed deposit investments. As such, an increase in interest rates also means an increase in your total earnings. Bajaj Finance Fixed Deposit now comes with FD rates going up to 7.95% per annum, depending on the investment tenure and interest payment frequency you choose. Compared to the earlier rates, this increase of 25 bps can have a significant impact on what you earn.
Given below is a table to help you understand the difference in earnings due to the increased interest rates. To compute the estimates of returns, a cumulative fixed deposit investment of Rs.5,00,000 maturing at varying tenures is taken as the base.| Tenure | Bajaj Finance new FD rates for customers below 60 years | Interest earnings | Bajaj Finance new FD rates for senior citizens | Interest earnings |
| 12 months | 7.05% p.a. | Rs. 36,193 | 7.30% p.a. | Rs. 37,511 |
| 18 months | 7.25% p.a. | Rs. 56,899 | 7.50% p.a. | Rs. 58,954 |
Disclaimer: The above estimates are calculated with the Bajaj Finance FD calculator
Additionally, you can make the most of these increased rates by choosing a longer tenure because the longer you invest, the more you earn. Keep in mind that the FD rates for a non-cumulative FD will be lower compared with cumulative FD.
Opt for a special tenure to maximise your returns
Along with the hike in the FD rates, the Bajaj Finance Fixed Deposit also offers special tenure options. For special tenures, the Bajaj Finance Fixed Deposit has higher FD rates, allowing you to earn more. These special tenures are of 15, 18, 22, 30, 33, 39 and 44 months
Here is a table of the revised FD rates for Bajaj Finance Fixed Deposit special tenure for senior and non-senior citizen investors.| Period | For non senior citizen At Maturity (% p.a.) | For senior citizen At Maturity (% p.a.) |
| 15 months | 7.20 | 7.45 |
| 18 months | 7.25 | 7.50 |
| 22 months | 7.35 | 7.60 |
| 30 months | 7.30 | 7.55 |
| 33 months | 7.30 | 7.55 |
| 39 months | 7.60 | 7.85 |
| 44 months | 7.70 | 7.9 |