Bajaj Bajaj Finance Ltd offers up to 8.85 percent to Digital Fixed Deposit subscribers
Financial service major Bajaj Finance Ltd., part of Bajaj Finserv on Wednesday announced the launch of Digital Fixed Deposit (FD), offering exclusive rates of up to 8.85 percent on deposits booked via its App and Website.
Effective from January 2, 2024, Bajaj Finance is offering up to 8.85 percent per annum to senior citizensfor a tenure of 42 months for FDs booked on the Bajaj Finserv App and web.
Depositors below 60 years can earn up to 8.60 per cent per annum.
The revised rates will be applicable on fresh deposits and renewals of maturing deposits of up to Rs 5 crore for tenure of 42 months.
Sachin Sikka, Head – Fixed Deposits & Investments at Bajaj Finance, said,“Our frictionlessprocesses, attractive interest rates and customer-friendly policiesdefine consumer experiences with Bajaj Finance FDs. The 2x times growth of our deposit book in 2 years is also a testament to the trust customers placein the Bajaj brand. Our FDsnow enable depositors to think digital-first. It is built as a simple end-to-end digital journey with higher interest rates available exclusively on the Bajaj Finserv App and Web. It brings the FD opening experience into the digital age.”
Bajaj Finance has 76.56 million customers with 44.68 million net users on its App platform as on September 30, 2023.
The Bajaj Finserv App is the 4th most downloaded app in the financial domain on Playstore in India as per data.io report.
The companyhas emerged as the country's largest deposit-taking NBFC with a consolidated deposit book of over Rs. 54,821 crore as on September 30, 2023, and with over 1.4 million deposits. The Bajaj Finance Fixed Deposit program has the highest stability ratings with CRISIL’s AAA/Stable and ICRA’s AAA(Stable), offering one of the safest investment options for investors.
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