Bajaj Finance FD Rates, November 2019

Regular Citizens Fixed Deposit Rates

Note: Figures mentioned in the above table are subject to change without prior information. The above-mentioned interest rates of Bajaj Finance (now Bajaj Finserv) are applicable with effect from 3rd September 2019.

Senior Citizens Fixed Deposit Rates

Note: Figures mentioned in the above table are subject to change without prior information. The above-mentioned interest rates of Bajaj Finance (now Bajaj Finserv) are applicable with effect from 3rd September 2019. 

NRI Fixed Deposit Rates 

Note: Figures mentioned in the above table are subject to change without prior information.

1. Bajaj Finserv Fixed Deposit Scheme

2. Bajaj Finserv Senior Citizens Fixed Deposit Scheme

Bajaj Finserv or Bajaj Finance Fixed Deposit comes with a fixed lock-in period of 3 months. While there is no penalty on withdrawing money prematurely, one may incur losses in terms of earned interest. Hence, account holder should try only to opt for premature withdrawal in case of financial crunch or any emergency. Alternatively, one can take a loan against FD, and get the desired cash flow without losing out on the interest.

Bajaj Finserv FD Interest Rates Calculator can be used to check the interest and maturity amount that the depositor will get when the tenure ends. Fixed Deposit offer higher interest rates than savings accounts and is secure than other investment options (like mutual funds and stocks). Any individual who desire to invest in a fixed deposit account need to provide the amount that he / she wish to invest, Bajaj Finserv FD rate and the deposit tenure that he / she wish to invest for. After providing these details, the investor can check the potential returns and can compare with other bank FD rates as well.

For example, a customer wants to invest Rs.5 lakh for a tenure of 18 months with an annual interest payout frequency. With Bajaj Finserv he / she will be able to earn a total amount of Rs. 5,63,523 (including Rs. 63,523 interest) on maturity at a Bajaj Finserv FD rate of 8.00% per annum under the cumulative scheme.

Bajaj Finserv provides its customers with the facility of loan against fixed deposit up to 75% of the amount invested in a cumulative fixed deposit and up to 60% of the amount invested in a non-cumulative fixed deposit. Investors can also avail Bajaj Finserv loan against fixed deposit online up to Rs. 4 lakh.

The following can apply for Bajaj Finserv Fixed Deposit –

• Resident Individuals
• Hindu Undivided Family (HUF)
• Sole Proprietorship firms
• Partnership Firms
• Companies including Group Companies
• Clubs, Associations and Societies
• Family Trust

The following documents are required to be submitted to open a Fixed Deposit account:

For Individuals –

• Recent passport size photographs
• Certified copy of the Proof of Address which can be anyone documents such as Passport, Voter’s ID Card, Driving License, Aadhaar Card, NREGA Job Card duly signed by the State Government Officer
• Certified copy of the Proof of Identity which can be anyone documents such as Passport, PAN Card (mandatory), Voter’s ID Card, Driving License, Aadhaar Card, NREGA Job Card duly signed by the State Government Officer
• Certified copy of the Proof of Signature which can be anyone documents among Passport, PAN Card or Driving License

For Private Limited or Public Companies –

• PAN Card
• KYC Grid Address Proof
• Certificate of Incorporation
• Memorandum and Articles of Association
• Authorized Signatories List with specimen signatures
• Board Resolution for opening the Fixed Deposit Account
• ID Proof of Authorized Signatories as per the KYC Grid of ID Proof requirement

For Partnership Firms-

• PAN Card
• KYC Grid Address Proof
• Certificate of Registration
• Partnership Deed
• Authorized Signatories List with specimen signatures
• ID Proof of Authorized Signatories as per the KYC Grid of ID Proof requirement

For Hindu Undivided Families (HUFs)-

• PAN Card of the HUF
• KYC Grid Address Proof
• Self-attested copy of PAN Card in the HUF’s name is mandatory
• Deed of Declaration of HUF
• Bank Passbook / Bank Statement / Demat Statement in the name of the HUF
• KYC of all adult members of the HUF as per the KYC Grid

For Statutory Board or Local Authority-

• PAN Card
• KYC Grid Address Proof
• Authorized Signatories List with specimen signatures
• Self-certification of Letter Head

For Registered Societies-

• PAN Card
• KYC Grid Address Proof
• Copy of Registration Certificate under Societies Registration Act
• List of Managing Committee Members
• Committee Resolution for persons authorized to act as authorized signatories with specimen signatures
• True copy of Society Rules and Bye-Laws certified by the Chairman or Secretary

Investors can follow the below-mentioned steps to apply for a Bajaj Finserv Fixed Deposit Account:

Step 1: Investors can fill the online application form available at Bajaj Finserv’s official website and deposit the money via net banking, RTGS/NEFT or cheque

Step 2:  The filled-out form can be accessed by clicking on ‘Save as PDF’ and the representative of Bajaj Finserv will get in touch for the collection of documents

Step 3: Print and sign the application form, affix the photographs, and keep the KYC documents ready

Step 4: Submit the documents with a CTS compliant cheque to the representative and the Bajaj Finserv FD account will be opened.

Alternatively, investors can visit Bajaj Finserv official website and get their fixed deposit accounts opened.

Q. Can an account holder apply for a loan against FD with Bajaj Finserv?

A. Yes, an account holder can avail loan against FD with Bajaj Finserv up to 75% of the amount invested in a cumulative fixed deposit and up to 60% of the amount invested in a non-cumulative fixed deposit.

Q. Who all can invest in Bajaj Finserv fixed deposit scheme?

A. Customers who can invest in Bajaj Finserv fixed deposit scheme are as follows:

• Resident Individuals
• Hindu Undivided Family (HUF)
• Sole Proprietorship firms
• Partnership Firms
• Companies including Group Companies
• Clubs, Associations and Societies
• Family Trust

Q. What are the documents required for individuals to invest in Bajaj Finserv FD?

A. The documents required for individuals to invest in Bajaj Finserv FD are as follows:

• Recent passport size photographs
• Certified copy of the Proof of Address which can be anyone documents such as Passport, Voter’s ID Card, Driving License, Aadhaar Card, NREGA Job Card duly signed by the State Government Officer
• Certified copy of the Proof of Identity which can be anyone documents such as Passport,  PAN Card (mandatory), Voter’s ID Card, Driving License, Aadhaar Card, NREGA Job Card duly signed by the State Government Officer
• Certified copy of the Proof of Signature which can be anyone documents among Passport, PAN Card or Driving License

Q. Who cannot invest in Bajaj Finserv fixed deposit scheme?

A. NRIs, Foreign Citizens, Person of Indian Origins (PIOs), charitable trusts and entities qualifying under section 11(5) of Income Tax Act cannot invest in Bajaj Finserv fixed deposit scheme.

Q. What is Bajaj Finserv Senior Citizen FD?

A. Bajaj Finserv offers a fixed deposit for senior citizens for individuals above 60 years of age and can earn comparatively higher interest rates than regular individuals.