Bajaj Finance Ltd., a subsidiary of Bajaj Finserv Ltd., has announced increases in Fixed Deposits 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 enjoy FD rates of up to 8.85% and non-senior citizens up to 8.60% through digital bookings during their 42-month tenure. 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.” 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.
