With effect from Thursday, December 22, 2022, Bajaj Finance, the lending arm of Bajaj Finserv Limited, has increased its FD rates by up to 25 basis points for tenures of 12 to 24 months. New deposits and renewals of maturing deposits of up to Rs 5 crore will be subject to the revised rates on Bajaj Finance FDs.
In accordance with the outcomes of the RBI’s policy, a number of financial institutions have recently revised their FD rates for specific maturity periods.
In an effort to encourage more investors to choose this appealing investment option, Bajaj Finance is raising interest rates by as much as 25 basis points for terms ranging from 12 to 24 months.
The revised Fixed Deposit Scheme will continue to offer depositors over the age of 60 an interest rate of up to 7.95 percent per annum for a period of 44 months. whereas non-senior citizens can earn as much as 7.70% per year. Additionally, depositors under the age of 60 can still take advantage of the FD interest rate of up to 7.60 percent per annum for the new 39-month tenure that was recently introduced by Bajaj Finance. whereas seniors can earn as much as 7.85 percent per year.
Latest Bajaj Finance FD rates (December 22) Banks and non-banking finance companies like Bajaj Finance have been raising interest rates in conjunction with the Reserve Bank of India’s (RBI) repo rate increases.
At its most recent policy review meeting on December 7, 2022, the central bank increased the repo rate—the rate at which the banking regulator lends to banks—by 0.35 percent, or 35 basis points, to 6.25 percent, up from 5.9 percent earlier.
