Bajaj Finance Ltd. Offers Digital Fixed Deposit Advantage @ Up to 8.85%

Unlock the Digital Fixed Deposit Advantage @ Up to 8.85%
Enjoy a Competitive Interest Rate of 8.85% on Deposits Reserved via Bajaj Finserv App & Website
Encourages depositors to think digital-first with frictionless journeys

Bhubaneswar: Bajaj Finance Ltd., a prominent entity within the Bajaj Finserv financial services group, has introduced its Digital Fixed Deposit (FD) with exclusive interest rates of up to 8.85%, applicable to deposits made through its App and Website.

Aligned with the onset of the new year, the Digital FD revolutionizes the savings experience by encouraging customers to leverage digital and assisted digital modes for deposit bookings. The process on the Bajaj Finserv app and website is straightforward, secure, and seamless, facilitating near-instant FD bookings.

Commencing January 2, 2024, Bajaj Finance extends interest rates of up to 8.85% per annum for senior citizens over a 42-month tenure for FDs booked via the Bajaj Finserv App and website. Depositors below 60 years can earn up to 8.60% per annum. These revised rates are applicable to fresh deposits and renewals of maturing deposits, amounting to Rs 5 crore, for a 42-month tenure.

Sachin Sikka, Head of Fixed Deposits & Investments at Bajaj Finance, emphasized the company’s commitment to providing a seamless experience, attractive interest rates, and customer-friendly policies. He noted the substantial 2x growth in the deposit book within two years as a testament to the trust customers place in the Bajaj brand. The FDs now facilitate a digital-first approach, offering a simple end-to-end digital journey with enhanced interest rates exclusively on the Bajaj Finserv App and Web.

As of September 30, 2023, Bajaj Finance boasts 76.56 million customers, with 44.68 million net users on its App platform. The Bajaj Finserv App ranks as the 4th most downloaded app in the financial domain on Playstore in India, according to data.io reports.

The company has established itself as the largest deposit-taking NBFC in the country, featuring a consolidated deposit book exceeding Rs. 54,821 crore as of September 30, 2023, with over 1.4 million deposits. Bajaj Finance Fixed Deposit program holds the highest stability ratings with CRISIL’s AAA/Stable and ICRA’s AAA(Stable), providing one of the safest investment options for investors.

Furthermore, the company’s App offers an Investment Marketplace, allowing customers access to a diverse range of mutual funds.