Bajaj Finance Limited, the lending company of Bajaj Finserv Group, has launched special tenures to earn higher returns on Fixed Deposit rates which ensures the investors a chance to earn more on the same amount invested in a special tenure.
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As per the company, the recently launched special tenures are a feature worth looking into when choosing to invest in a Bajaj Finance Fixed Deposit. Investors get a chance to earn more on the same amount invested in a special tenure.
Also Read: RBI to publish discussion paper on late payment charges — Paytm, Bajaj Finance likely to react
Here’s a look at the FD interest rate for deposits starting at Rs. 15,000 up to Rs. 5 crore on the special tenures for citizens aged below 60 years, with effect from January 20, 2023:
| Period | Cumulative | Non Cumulative | |||
| At Maturity | Monthly | Quarterly | Half Yearly | Annually | |
| (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) | |
| 15 Months | 7.30% | 7.07% | 7.11% | 7.17% | 7.30% |
| 18 Months | 7.15% | 6.93% | 6.97% | 7.03% | 7.15% |
| 22 Months | 7.45% | 7.21% | 7.25% | 7.32% | 7.45% |
| 30 Months | 7.40% | 7.16% | 7.20% | 7.27% | 7.40% |
| 33 Months | 7.70% | 7.44% | 7.49% | 7.56% | 7.70% |
| 39 Months | 7.60% | 7.35% | 7.39% | 7.46% | 7.60% |
| 44 Months | 7.85% | 7.58% | 7.63% | 7.70% | 7.85% |
Here’s a look at the FD interest rate for deposits starting at Rs. 15,000 up to Rs 5 crore on the special tenures for senior citizens:
| Period | Cumulative | Non Cumulative | |||
| At Maturity | Monthly | Quarterly | Half Yearly | Annually | |
| (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) | (% p.a.) | |
| 15 Months | 7.55% | 7.30% | 7.35% | 7.41% | 7.55% |
| 18 Months | 7.40% | 7.16% | 7.20% | 7.27% | 7.40% |
| 22 Months | 7.70% | 7.44% | 7.49% | 7.56% | 7.70% |
| 30 Months | 7.65% | 7.39% | 7.44% | 7.51% | 7.65% |
| 33 Months | 7.95% | 7.67% | 7.72% | 7.80% | 7.95% |
| 39 Months | 7.85% | 7.58% | 7.63% | 7.70% | 7.85% |
| 44 Months | 8.10% | 7.81% | 7.87% | 7.94% | 8.10% |
Investors can calculate the returns at maturity using the online FD calculator on the Bajaj Finance website and estimate the returns using the tool before choosing to invest. The tool also offers the option to compare the difference in returns between generic tenures and special tenures.
Fixed deposit is an investment tool widely used to fulfil short-term, mid-term, and long-term goals alike. Investors looking for long-term gains can benefit from investing in fixed deposits. For example, senior citizens building their retirement corpus, parents saving for their child’s education or marriage, or individuals looking to buy their dream home can also invest in this instrument.
However, with multiple financiers available in the market choosing the right one can be a challenging task. While bank and post-office fixed deposits are safe investment options, they yield lower returns. On the other hand, NBFC and company FDs may come with risks, but they offer higher returns.
Also Read: Insurance regulator forms consultative committee on investments
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