Planning to invest in an FD for 3-5 years? Check Bajaj Finance FD New FD Rates

fixed deposit

Fixed Deposits (FD) are financial instruments that offer assured returns at a pre-determined rate at comparatively lower risks. Moreover, the rates of return from FDs are higher than those on normal savings accounts. In addition, you will earn higher interest rates on long-duration FDs. Thus, with current FD rates unlikely to go down further, you may wish to lock-in your money for a period of 3-5 years.

In India, banks, post-offices, and NBFCs issue FDs. Usually, NBFCs offer slightly higher FD interest rates than banks or post-offices. Bajaj Finance fixed deposit is a notable example of an NBFC FD with lucrative rates of return.

Unique features of Bajaj Finance Fixed Deposit

1. High safety and credibility

With many financial institutions and banks filing for bankruptcy across the globe, you may be concerned about the safety of your capital. Bajaj Finance fixed deposit has consistently received high credit ratings of AAA+ from ICRA and CRISIL. Plus, it is the only NBFC in India to receive a high credit rating of BBB+ from the international credit rating agency S&P Global. 

Thus, with Bajaj Finance fixed deposit, your capital is in safe and credible hands.

2. Flexibility

You can open a Bajaj Finance FD for any tenor between 12 – 60 months. Moreover, premature withdrawals of your FDs are permitted after a minimum lock-in period of 3 months. The penalty charged for the same is nominal too.

3. Loan against FD facility

If you do not wish to lose your interest income due to premature withdrawals, you may opt for Loan Against FD facility. You can pledge your FD and procure loans of up to 75% of the total FD amount. Thus, your immediate liquidity needs are taken care of.

4. Easy application process

You can book Bajaj Finance FD online from the comfort of your home. The online application process is quick, secure, and easy. You can also auto-renew your FD online. Thus, no physical travel or submission of physical documents needed. At some locations, you can open an FD using a debit card too.

5. Systematic Deposit Plan (SDP)

You can also opt for a 3-5 year Bajaj Finance SDP. An SDP scheme allows you to invest small amounts each month at prevailing interest rates. Under the monthly maturity scheme, you can make a total of 6-48 deposits. Each of your deposits will mature on a different date. Under the single maturity scheme, all your deposits will mature on the same date. 

You may opt for any scheme as per your investment goals. SDP schemes are ideal for tackling interest-rate risks.

6. Multi-deposit scheme

Bajaj Finance allows you to open multiple deposits with a single cheque. Opting for multiple time deposits with varying maturity dates and interest payout frequencies will help you minimize interest rate risks in the long-run.

7. Attractive interest rates

For 3-5 year investment duration, you can earn a Bajaj Finance FD rates in the range of 6.79% – 7% p.a. on non-cumulative FDs. The lower the interest-payout frequency, the higher will be the rates of return and vice-versa. On 3-5 year cumulative FDs, you will earn 7% p.a. If you invest online, you gain an extra return of 0.10% p.a. 

If you are a senior citizen, you gain an additional return of 0.25% p.a. Bajaj FD rates for senior citizens are one of the most lucrative FD interest rates in India. Thus, with Bajaj Finance fixed deposit, senior citizens can safeguard their lifetime earnings and earn high guaranteed returns.

Bajaj Finance FD rates stated above are applicable to NRIs, NROs, and PIOs as well. So, if you or your relatives residing abroad wish to invest in an FD with competitive interest rates, then Bajaj Finance fixed deposit is a good option. Moreover, the FD calculators on its website will help you know your maturity amounts before investing.

The Bottom Line

With a minimum principal requirement of just Rs 25,000, attractive FD rates, and a wide range of benefits, Bajaj Finance FD is a must in your portfolio.