Bajaj Finance raises fixed deposit rates by up to 40 bps

Mumbai/Pune, Oct 7 (TNT): Bajaj Finance Ltd on Wednesday announced an increase of 15 to 40 basis points in interest rates on its fixed deposits across tenures ranging from 12 to 60 months, effective from October 7, 2026.

The revised rates apply to both fresh deposits and renewals, with the highest increase applicable to longer tenures, the company said in a release.

Rates for 31 to 60 months have been increased by 35 basis points for regular depositors and 40 basis points for senior citizens.

Following the revision, regular depositors booking fresh cumulative deposits can earn up to 7.75 per cent per annum for 31 to 60 months, compared with 7.40 per cent earlier.

Rates for 12 to 17 months have been increased to 6.80 per cent from 6.60 per cent, while those for 18 to 30 months have been raised to 7 per cent from 6.85 per cent.

Senior citizens will receive an additional 0.40 per cent per annum over regular rates, up from 0.35 per cent earlier. Their fresh deposits will earn up to 8.15 per cent per annum for 31 to 60 months, while rates for 12 to 17 months and 18 to 30 months stand at 7.20 per cent and 7.40 per cent, respectively.

Depositors renewing maturing deposits will receive an additional 0.10 per cent per annum. Renewal rates go up to 7.85 per cent for regular depositors and 8.25 per cent for senior citizens.

Depositors can opt for cumulative interest paid at maturity or non-cumulative payouts on a monthly, quarterly, half-yearly or annual basis. Bajaj Finance Ltd hikes FD rate…

Sachin Sikka, Senior Executive Vice President, Deposits & Wealth Management, Bajaj Finance, said the company had weighted the rate hike towards longer tenures, enabling depositors to lock in higher returns for up to five years.

The company said its fixed deposit programme is rated AAA/Stable by CRISIL and ICRA. Deposits can be started with a minimum investment of Rs 15,000 and customers can book or renew them through the company’s website, app, branches and partner channels.

According to the revised rate structure, regular depositors will earn 6.80 per cent, 7 per cent and 7.75 per cent on cumulative deposits for 12-17 months, 18-30 months and 31-60 months, respectively.

Senior citizens will earn 7.20 per cent, 7.40 per cent and 8.15 per cent for the corresponding tenures.

For renewals, regular depositors can earn up to 7.85 per cent and senior citizens up to 8.25 per cent for deposits with tenures of 31 to 60 months, the release added.

TNT KM