Bajaj Finance raises interest rate on FDs with immediate effect

Bajaj Finance, the lending and investing arm of Bajaj Finserv, has increased interest rates on their fixed deposit (FD) programme by up to 10 basis points, for tenors between 36 to 60 months.

The revised rates on Bajaj Finance's FDs, of up to Rs 5 crore, are effective from Wednesday and will be applicable to fresh deposits and renewals of maturing deposits, a statement said.

Post the revision, deposits between 36 to 60 months will offer a cumulative return as high as 7 per cent.

Senior citizens can reap the benefit of upto 0.25 per cent higher FD rates, which will offer assured returns of 7.45 per cent for 44 months, the statement added.

The rate change also impact the senior citizens, who can now earn up to 7.25 per cent per annum for a tenor of 36-60 months and 6.65 per cent per annum for a tenor of 24-35 months.

Headquartered in Pune, Bajaj Finance is catering to more than 50 million customers across the country.