Bajaj Finance hikes FD rates for most tenures by up to 60 bps; highest rate continues at 8.85%

April 8, 2024: Bajaj Finance Ltd., part of Bajaj Finserv Ltd.,  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.

For non-senior citizens, rates have been hiked by up to 45 basis points in the 25-to-35-month tenure, 40 basis points in the 18 and 22 month tenures, and 35 basis points in the 30 and 33-month tenures.

The move presents an opportunity for savers to secure stable and better returns in prevailing 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.

Sachin Sikka, Head – Fixed Deposits & Investments at Bajaj Finance, said, “Our enhanced rates across several investment buckets present an attractive proposition for investors seeking stability. Over the years, millions of depositors have placed their trust in the Bajaj brand. We continue to stay focused on offering them a better experience, more value and a safe option for their savings.” 

Bajaj Finance’s customer franchise stood at approximately 83.64 MM as of March 31, 2024. The company has emerged as the country's largest deposit-taking NBFC with a Deposits book of over Rs. 60,000 crore as of March 31, 2024.