Current Fixed Deposit Interest Rates Offered in 2022

Current Fixed Deposit Interest Rates Offered in 2022

 Fixed deposit is considered as one of the safest options of investment as users get assured and high return for their investment. When users invest their fund on fixed deposits with companies like Bajaj Finance, the high rate of interest offered by the NBFC ensure substantial asset appreciation after the maturity period.

Candidates can also utilise the fixed deposit interest rate calculator and check the expected maturity amount for a given tenor. However, users must know about the current fixed deposit interest rates offered by Bajaj Finance to calculate the maturity amount.

Further, individuals are offered a different rate of interest for fixed deposits depending on categories like new, existing and senior citizen customer.

Fixed deposit rates for new customers and NRI

NRIs and new customers of Bajaj finance can apply for fixed deposits of up to Rs.5 crore with the below-mentioned rate of interest for cumulative and non-cumulative type of fixed deposit. Candidates can utilise the fixed deposit interest rate calculator by inserting these values and check on their maturity amount and interest payout.

  • The interest rate for cumulative fixed deposits
  • Users can avail 7.60% interest rate for tenor between 12 to 23 months.
  • New customers opting for 24 months to 35 months fixed deposits can avail 7.90% rate of interest.
  • For tenor longer than 36 months, new users can acquire a cumulative interest of 8.10% on their deposits. Bajaj Finance offers FD interest rates of over 8% for new customers and NRI that is lucrative for many.

It is to note that the minimum amount of deposit should be equal to or more than Rs.25,000. Therefore, make sure that you input an accurate interest rate value in a fixed deposit interest rate calculator.

  • The interest rate for non-cumulative FDs

Non-cumulative type of deposit can be broadly classified in four sections –

Monthly

  • For interest compounded monthly, rate of interest is 7.35% for tenor between 12 to 23 months
  • New customers & NRIs opting for tenor between 24 to 35 months can acquire 7.63%
  • For tenor between 36 to 60 months, interest rate 7.81%

Quarterly

  • 39% for tenor between 12 to 23 months
  • 68% for tenor between 24 to 35 months
  • 87% for tenor between 36 to 60 months

Half-yearly

  • 46% for tenor between 12 to 23 months
  • 75% for tenor between 24 to 35 months
  • 94% for tenor between 36 to 60 months

Annual

For interest compounded annually, the rate of interest offered by Bajaj Finance for a fixed tenor is the same as that of cumulative type.

 

Fixed deposit rates for senior citizen

Since senior citizens seek a stable mode of investment where they can invest their money for assured returns, NBFCs like Bajaj Finance offer a lucrative rate of interest on the cumulative and non-cumulative type of Fixed Deposits.

  • The interest rate for cumulative
  • Senior citizens opting for a fixed deposit between 12 to 23 months tenor can enjoy a 7.85% rate of interest.
  • Fixed deposits with tenor between 24 to 35 months can avail 8.15% rate of interest.
  • For tenor up to 60 months and above 36 months, the rate of interest for senior citizens is 8.35%. A senior citizen can use the fixed deposit interest rate calculator and input appropriate rate of interest and tenor for their fixed deposit to know about the maturity amount and interest payout.
  • The interest rate for non-cumulative

Monthly

  • 58% for tenor between 12 to 23 months
  • 86% for tenor between 24 to 35 months
  • 05% for tenor between 36 to 60 months

Quarterly

  • 63% for tenor between 12 to 23 months
  • 91% for tenor between 24 to 35 months
  • 10% for tenor between 36 to 60 months

Half-yearly

  • 70% for tenor between 12 to 23 months
  • 99% for tenor between 24 to 35 months
  • 18% for tenor between 36 to 60 months

Annually

Fixed Deposit rates for senior citizen offered by Bajaj Finance compounded annually are same as that of an interest rate for senior citizens opting for cumulative type of fixed deposit. Moreover, it is one of the risk-free investment options senior citizens can benefit from most.

These are the current fixed deposit rates offered by Bajaj Finance. Candidates must determine their category and their choice of tenor to see which rate of interest can be availed by them.

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