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04 March, 2021 19:09 IST
Bajaj Finance increases fixed deposit rate of interest up to 8.75%
Source: IRIS | 05 Jun, 2018, 03.20PM
Rating: NAN / 5 stars.
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Bajaj Finance, the lending and investment arm of Bajaj Finserv, has revised its Fixed Deposit (FD) rate of interest to 8.75% for senior citizen and 8.65% for the existing loan and FD customers.

The company is offering this interest rate under the cumulative option and on an annualised basis under non-cumulative option. The new Fixed Deposit customers would get 8.40% instead of 8.10% earlier.

Bajaj Finance Fixed Deposit has been accorded 'FAAA/Stable' rating by CRISIL and 'MAAA (Stable)' rating by ICRA which indicates the highest degree of safety regarding timely payment of interest and principal on the instrument.

In 2014, Bajaj Finance Fixed Deposit business started with an approximate book size of Rs 2 billion, which as of March 31, 2018 stands at Rs 75.69 billion. This growth is testimony of the exceptional response by the retail investor community and financial advisors.

Bajaj Finance has introduced a special tenor scheme of 15 months for deposits starting from Rs. 1,00,000. Wherein the interest rate is up to 7.85% for new customer and 8.20% for senior citizens.

Shares of the company gained Rs 27.95, or 1.36%, to trade at Rs 2,086.80. The total volume of shares traded was 28,109 at the BSE (3.07 p.m., Tuesday).

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