This Fixed Deposit Rated AAA Hikes Deposit Interest Rates To 8.20%

Bajaj Finance has revised its interest rates on fixed deposits. The AAA rated deposits by Bajaj Finance offer an interest rate upto 8.20% for senior citizens who will now get 8.20% interest on Fds maturing in 44-months. Regular depositors will get 7.95% interest on fixed deposits of 44-months. These interest rates are for deposits from 15,000 to Rs 5 crores.

Bajaj Finance also offers interest rates on other tenures which are lower.

Fixed deposits interest rates for 44-months deposit

	Senior Citizens	Regular depositors
Cumulative	8.20%	7.90%
Monthly	7.91%	7.67%
Quarterly	7.96%	7.72%
Half yearly	8.04%	7.95%

One can invest in the Bajaj Finance fixed deposits through the online mode as well. One has to begin the process by the online mobile verification mode and after that investors have the online process verification. Upon KYC completion investors can give their personal details and investment details and make their payment. Once the fixed deposit is booked, investors will receive the fixed deposit acknowledgement on the registered email address and as a link on the mobile number.

Regular depositors can also opt for the monthly income category where the interest rates received are pretty high. For example, the monthly interest rate offered is as high as 7.67% on a 44-month tenure of the fixed deposits. By and large as we see, the fixed deposits of 44-months offer the best possible interest rates for investors. Go for the longer term tenures to avail the best interest rates possible.

AAA rated fixed deposits of Bajaj Finance

Bajaj Finance fixed deposits are extremely safe as they offer the highest possible rating of AAA, which is very high in terms of safety and payment. One of the things that investors should note is that interest rates on fixed deposits could fall in the coming days. Therefore, it is better to stay invested for longer duration and the ideal duration could be 3-5 years. Having said that of course there is a possibility that another 25 basis points hike in interest rate is done by the Reserve Bank of India. In that case, most banks and non banking finance companies too would hike interest rates on fixed deposits marginally. Following that move, we believe that interest rates would have peaked and from thereon it could keep falling.