- Comparatively higher rate of 8.85% offered on deposits booked through Bajaj Finserv App & Website.
- Encourages depositors to think digital-first with frictionlessjourneys.
Mumbai, January 3, 2024 : Bajaj Finance Ltd., part of Bajaj Finserv, one of the country’s largest financial services groups, today announced the launch of Digital Fixed Deposit (FD), offering exclusive rates of up to 8.85% on deposits booked via its App and Website.
Coinciding with the turn of the year, the Digital FD transforms the saving experience by encouraging customers to use digital and assisted digital mode to book deposits. The journey on the Bajaj Finserv app and website is simple, safe and seamless with near-instant FD booking.
Effective January 2, 2024, Bajaj Finance is offering upto 8.85% 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 friction less processes, attractive interest rates and customer-friendly policies define 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 FDs now 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.
The company’s App also offers an Investment Marketplace where customers can access a wide array of mutual funds.
About Bajaj Finance Limited
Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-six-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 76.56 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB-/Stable a and a short-term rating of A-3 by S&P Global ratings. To know more, visit www.bajajfinserv.in/