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Bajaj Finserv FD
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Bajaj Finserv Fixed Deposit Account

 

About Bajaj Finserv

Bajaj Finserv is an organization that was established in April 2007. The organization was a result of its demerger from Bajaj Auto and was undertaken to provide financial service to their customers all across India.

Bajaj Finserv runs independently by providing lending, protection, and savings services to its customers. Currently, the organization has millions of customers who are always sharing positive feedback for the financial services provided by Bajaj Finserv.

Out of all the financial services and products provided by Bajaj Finserv, the most popular is the fixed deposit schemes provided by them. Bajaj Finserv fixed deposits are ideal for people who want to grow their savings steadily with the safety and stability of their principal amount.

The company provides different attractive interest rates on all fixed deposits. Customers also get a variable choice of tenure from 12 months to 60 months. The fixed deposits also come with several additional features and benefits. All of this ensures that the account holder has a completely hassle-free investment experience.

Bajaj Finserv FD

Features of Bajaj Finserv Fixed Deposit (FD) Scheme

Some of the best features provided by Bajaj Finserv on their fixed deposit schemes are:

  • Higher interest rates for senior citizens
  • Minimum deposit amount of only INR 25,000
  • Excellent stability and credibility
  • The interest of up to 8.70% on fixed deposits
  • Multi deposit facility
  • Assured returns
  • Flexible tenures
  • Online loans against fixed deposit

 

Bajaj Finserv FD Interest Rates

The Bajaj Finserv FD interest rates are discussed in detail in the table given below.

Tenure Minimum Deposit Cumulative Non-Cumulative Monthly Non-Cumulative Quarterly Non-Cumulative Half Yearly Non-Cumulative Annual
12 months – 23 months INR 25,000 8.35% 8.05% 8.10% 8.18% 8.35%
24 months – 35 months INR 25,000 8.40% 8.09% 8.15% 8.23% 8.40%
36 months – 60 months INR 25,000 8.70% 8.37% 8.43% 8.52% 8.70%

Benefits of Bajaj Finserv FD

If you invest in a Bajaj Finserv fixed deposit, then there are several benefits that would come your way. Some of these benefits are:

  • Flexible tenures
  • Assured returns
  • Stability and credibility of the scheme
  • Minimum deposit amount of INR 25,000
  • Multi deposit facility
  • Higher interest rates for senior citizens
  • Competitive interest rates for all investors

 

Types of Bajaj Finserv FD

There are three different types of Bajaj Finserv fixed deposit schemes that are available in the market. These types of FD schemes are given below.

  • FD for the general public
  • FD for senior citizens
  • Tax saver fixed deposit

 

Eligibility of Bajaj Finserv FD

To be eligible for investing in a Bajaj Finserv FD, you must fulfill the following criteria.

  • Resident Indian citizen
  • Hindu Undivided Family (HUF)
  • Clubs
  • Associations
  • Societies
  • Family trusts
  • Sole proprietorships
  • Partnership firms
  • Companies
  • Group companies

 

How to Calculate Bajaj Finserv FD Interest Rates

It is quite easy to calculate the Bajaj Finserv fixed deposit interest rate if you use the Bajaj interest FD calculator. To use this calculator, all you have to do is simply enter the required details and click on calculate. After that, you will be able to see the final earned amount through the interest on your fixed deposit.

Using the Bajaj Finserv fixed deposit calculator is better than doing manual calculations as it helps you get the final answer that you are seeking in a matter of a few seconds. Further, with the help of this calculator, you can tweak the different factors to see what would get you the maximum amount of returns.

Factors Affecting Bajaj Finserv FD Interest Rates

If you want to learn about the factors that have an effect on the Bajaj Finserv interest rates, then go through the list that is given below.

  • The fixed deposit period that is selected by the investor has a lot of effect on the interest rate of the FD and the amount of returns that one would get from it
  • As a general rule, the higher the amount that one invests in a fixed deposit, the higher will be the amount of return that one would get on the same FD
  • Fixed deposit schemes with the auto-renewal feature often have a higher rate of interest associated with them in comparison to other fixed deposit schemes
  • The age of the investor also plays a role in determining the rate of interest which is applicable to a fixed deposit
  • The current economic conditions of the country along with the monetary and fiscal policy also have a lot of sway on the interest rates of fixed deposits

FAQs:

How frequently is the TDS deducted for Bajaj Finserv fixed deposit schemes?

TDS is deducted for Bajaj Finserv fixed deposit schemes on a quarterly basis.

I want to submit the 15G/H form for my Bajaj Finserv FD. Where can I do that?

After booking the FD, the 15G/H form can be submitted online on the Bajaj Finserv official customer portal. The same can also be done at the nearest branch office of Bajaj Finserv.

I have an existing FD and I saw that Bajaj Finserv has also changed the FD interest rates recently. Will the new interest rates be applicable for my existing deposit?

No, fixed deposit schemes are locked with specific interest rates. This means that you will continue to receive that interest amount until maturity. If you want to avail of the new interest rate, then you must invest in a new Bajaj Finserv fixed deposit scheme.

Are there any charges for opening a Bajaj Finserv FD account?

No, there are no charges for opening a Bajaj Finserv FD account.

Is the total interest on Bajaj Finserv FD taxable? If yes, then what is the taxable amount?

Yes, the interest earned through a fixed deposit is taxable. However, no tax deductions are made for interest amounts up to INR 5,000 in a year. If the interest earned amount exceeds this, then the tax will be deducted at a rate of 7.5%.

It should also be noted that tax will not be deducted if the customer has submitted the form 15G or 15H. Beyond this, if the interest earned amount exceeds INR 2,50,000 in a year, then TDS will be deducted even if one has submitted Form 15H or Form 15G.

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