Senior citizens can earn up to 8.60% interest on fixed deposits; check latest Bajaj Finance FD rates

Bajaj Finance, the lending arm of Bajaj Finserv Limited, has increased its fixed deposit interest rate by up to 40 basis points on deposits with maturities ranging from 36 months to 60 months. The new rates are effective May 10, 2023.

Depositors under the age of 60 can earn up to 8.05 per cent annually, while depositors over 60 can earn up to 8.30 per cent annually. The updated Bajaj Finance FD interest rates will apply to new deposits as well as renewals of maturing accounts up to Rs 5 crore, according to the Bajaj Finance press release.

Bajaj Finance offers the highest interest rate of 8.60 per cent per annum for senior citizens, for a special tenure of 44 months.

Bajaj Finance FD rates for regular citizens

Period (months)	Cumulative	Non-Cumulative
Period (months)	At Maturity	Monthly	Quarterly	Half Yearly	Annual
12 – 23 months	7.4	7.16	7.2	7.27	7.4
>15 – 23 months	7.5	7.25	7.3	7.36	7.5
24 months	7.55	7.3	7.35	7.41	7.55
25 – 35 months	7.35	7.11	7.16	7.22	7.35
36 – 60 months	8.05	7.77	7.82	7.89	8.05

Special Period

Period (months)	Cumulative	Non-Cumulative
Period (months)	At Maturity	Monthly	Quarterly	Half Yearly	Annual
15 months	7.45	7.21	7.25	7.32	7.45
18 months	7.4	7.16	7.2	7.27	7.4
22 months	7.5	7.25	7.3	7.36	7.5
30 months	7.45	7.21	7.25	7.32	7.45
33 months	7.75	7.49	7.53	7.61	7.75
44 months	8.35	8.05	8.1	8.18	8.35

Bajaj Finance FD rates for senior citizens

Period (months)	Cumulative	Non-Cumulative
Period (months)	At Maturity	Monthly	Quarterly	Half Yearly	Annual
12 – 23 months	7.65	7.39	7.44	7.51	7.65
>15 – 23 months	7.75	7.49	7.53	7.61	7.75
24 months	7.8	7.53	7.58	7.65	7.8
25 – 35 months	7.6	7.35	7.39	7.46	7.6
36 – 60 months	8.3	8	8.05	8.13	8.3

Special Period

Period (months)	Cumulative	Non-Cumulative
Period (months)	At Maturity	Monthly	Quarterly	Half Yearly	Annual
15 months	7.7	7.44	7.49	7.56	7.7
18 months	7.65	7.39	7.44	7.51	7.65
22 months	7.75	7.49	7.53	7.61	7.75
30 months	7.7	7.44	7.49	7.56	7.7
33 months	8	7.72	7.77	7.85	8
44 months	8.6	8.28	8.34	8.42	8.6

Comparison of old and new interest rates

Period (months)	Previous Interest Rates (w.e.f.	New Interest Rates (w.e.f. 10
Period (months)	04 Mar 2023)	May 2023)
14-Dec	7.4	7.4
15	7.45	7.45
>15 – 23	7.5	7.5
18	7.4	7.4
22	7.5	7.5
24	7.55	7.55
25 – 35	7.35	7.35
30	7.45	7.45
33	7.75	7.75
36 – 60	7.65	8.05
44	7.95	8.35

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Senior citizens can earn up to 8.60% interest on fixed deposits; check latest Bajaj Finance FD rates

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