Bajaj Finance has increased the interest rates on FDs with immediate effect. Now its rate has been reduced to percentage. Its rate will be 7 percent. Senior citizens can avail 0.25 per cent higher FD rates, which will provide an assured return of 7.45 per cent for 44 months.
Bajaj Finance, the lending and investment arm of Bajaj Finserv, has increased the interest rates on its Fixed Deposit (FD) program by up to 10 basis points for tenors ranging between 36 and 60 months.
The revised rates on Bajaj Finance FDs up to Rs 5 crore are effective from Wednesday and will be applicable on renewal of fresh deposits and renewal deposits, a statement said.
Post revision, the cumulative return on deposits between 36 and 60 months would be up to 7 per cent.
Senior citizens can avail 0.25 per cent higher FD rates, which will provide an assured return of 7.45 per cent for 44 months, the statement said.
The change in rate also affects senior citizens, who can now earn up to 7.25 per cent per annum for periods of 36-60 months and 6.65 per cent per annum for periods of 24-35 months.
Bajaj Finance is headquartered in Pune and serves over 50 million customers across the country.
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