Bajaj Finance Ltd., a subsidiary of Bajaj Finserv Ltd., has unveiled a significant hike in its Fixed Deposit (FD) rates across various tenures, providing an attractive avenue for investors to secure stable returns. The move, effective April 3, 2024, sees rates raised for both senior and non-senior citizens, with the highest rate pegged at 8.85% for a 42-month tenure, exclusively for senior citizens.For senior citizens, rates have been elevated by up to 60 basis points in select tenures, while non-senior citizens can benefit from hikes of up to 45 basis points. This adjustment reflects the company’s commitment to offering competitive rates amidst prevailing market conditions.
Sachin Sikka, Head of Fixed Deposits & Investments at Bajaj Finance, emphasized the institution’s dedication to providing a secure and lucrative investment avenue for depositors. He stated, “Our enhanced rates across several investment buckets present an attractive proposition for investors seeking stability.”Bajaj Finance’s FD program boasts top-notch stability ratings, with CRISIL’s AAA/Stable and ICRA’s AAA (Stable), reinforcing its position as a safe investment option for individuals. Additionally, the company’s digital platform offers an Investment Marketplace where customers can access a diverse range of mutual funds.
With approximately 83.64 million customer franchises and a deposits book exceeding Rs. 60,000 crore as of March 31, 2024, Bajaj Finance continues to solidify its position as the country’s largest deposit-taking Non-Banking Financial Company (NBFC).Investors can capitalize on the revised rates, with senior citizens enjoying up to 8.85% returns and non-senior citizens availing rates of up to 8.60%, by booking digitally in the 42-month tenure. This move underscores Bajaj Finance’s ongoing commitment to offering competitive and lucrative investment options to its vast customer base.
