Special Scheme; Tremendous interest is being received on FD of 39 months, cannot even imagine this much in the bank! – Bajaj Finance introduces special FD for 39 months with up to Approx 8 percent return on this fd tutd

Non-Banking Finance Company (NBFC) Bajaj Finance is offering a great interest rate on Fixed Deposit (FD). Bajaj Finance has launched a 39-month special FD scheme, in which interest at the rate of 7.85 per cent is being offered to senior citizens. At the same time, common people will get interest at the rate of 7.60 percent on investing in this scheme. Senior citizens are getting the highest interest on fixed deposits of 44 months. He is getting interest at the rate of 7.95 percent on this scheme. Same, common people will get interest at the rate of 7.70 percent on this scheme.

Interest rate on Special FD

Bajaj Finance will get interest at the rate of 6.80 percent on fixed deposits of 12 to 23 months. At the same time, common people will get interest at the rate of 6.95 percent on 15-month special FD. Senior citizens will get interest at the rate of 7.05 percent on fixed deposits of 12 to 23 months. At the same time, senior citizens will get interest at the rate of 7.20 percent on 15-month special FD. Bajaj Finance has also brought FDs for 12 to 60 months. The new rates have come into effect from 22 November.

Increase due to repo rate

Sachin Sikka, Executive Vice President, Fixed Deposit and Investment, Bajaj Finance said that earlier we used to change FD interest rates once every 6 months. This time we have revised quickly. He said that the increase in FD interest rates has been done due to increase in the repo rate of the Reserve Bank. Interest rates on 39-month FD were increased by 0.25 percent.

Depositors’ base with the company

The average ticket size of Bajaj Finance’s Fixed Deposit scheme is ₹3.5 lakh per depositor. The company has a base of more than 10 lakh FDs and 4.25 lakh depositors. The company can also cross sell financial products to its customers.

How much has the repo rate increased?

In June, the repo rate was increased by 0.50 percent, due to which the repo rate increased to 4.90 percent. In August, RBI again increased by 0.50 percent and the repo rate reached 5.40. In September, once again there was an increase of 0.50 percent and the repo rate became 5.90 percent. Overall, the repo rate has increased four times so far this year.

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