Bajaj Finserv Fixed Deposit has received 'FAAA/Stable' rating by CRISIL and 'MAAA (Stable)' rating by ICRA indicate the highest degree of safety with regard to timely payment of interest and principal on the instrument. The fixed deposit book size of the company stands at Rs.6458 crore as on December 31, 2017.
For a fixed deposit ranging from one to five years, senior citizens will get an additional interest of 0.35% and the existing customers of Bajaj Finance Ltd will get additional 0.25%. Bajaj Finserv has further announced an exclusive renewal benefit for senior citizens and existing customer wherein investor will get additional 0.25% on the renewal of FDs.
An existing investor renewing the FD will earn an interest of 8.35% and senior citizen will earn an interest of 8.45% on the renewal of cumulative FD. These interest rates are applicable for tenure of 60months. Senior citizen planning to invest in safe financial instrument can earn higher return for an amount as low as Rs. 25000 through Bajaj Finserv Fixed deposit.
Features and benefits of fixed deposit
Stable returns
A fixed deposit guarantees a fixed, pre-decided rate of interest on your investment, which is credited to your account at the end of the tenure.
Higher interest rates for senior citizens
Senior citizens can benefit greatly from investing their life savings in a fixed deposit, as they are eligible for an additional rate of interest.
No approvals
Unlike high-risk investments that have to go through one or multiple rounds of approvals, you don’t need anybody to sign off on a fixed deposit and you are free to make one when you like.
