Bajaj Finance offers fixed deposit rates up to 8.15% for senior citizens

Bajaj Finance Limited has released its fixed deposit rate schedule for tenors ranging from 12 to 60 months. For cumulative deposits with tenors between 31 and 60 months, the company offers an annual interest rate of 7.75% for regular customers and 8.15% for eligible senior citizens.

As a non-banking financial company (NBFC), these corporate deposits are not covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance that protects bank deposits. Investors are advised to consider credit risks, liquidity restrictions, and tax implications. The company maintains credit ratings of CRISIL AAA/Stable and ICRA AAA/Stable.

Investment details include a minimum deposit of ₹15,000 and a maximum online investment limit of ₹3 crore. Payout options vary by selected tenure and include monthly, quarterly, half-yearly, yearly, or cumulative structures at maturity. Loans against these deposits are available after a three-month lock-in period.