Bajaj Finance FD Rates: Bajaj Finance has increased the EPD rates. The revised rates on FDs will be applicable for fresh deposits and renewal of matured deposits up to Rs.5 crore. The increased rates have come into effect from December 22.
According to a press release issued by the company, the revised rates on Bajaj Finance FDs will be applicable for fresh deposits and renewals of matured deposits up to Rs.5 crore.
Several financial institutions have recently revised their FD rates on select maturities, in line with the increase in key policy rates by the Reserve Bank of India (RBI) .
Under the Revised Fixed Deposit Scheme, depositors above the age of 60 years will continue to enjoy the benefit of an interest rate of up to 7.95%, for a period of 44 months, while non-senior citizens can earn up to 7.70%.
Also, with the new tenor of 39 months recently introduced by Bajaj Finance, depositors below the age of 60 can still avail FD interest rates of up to 7.60%, while senior citizens can enjoy up to 7.85% rate can be obtained.
Earlier this month, the RBI raised the key repo rate by 35 basis points (bps) to 6.25%, as widely expected, in its fifth straight hike, and vowed to bring down high inflation. No stone will be left unturned in its fight.
Significantly, since the increase in the repo rate by the central bank, almost all private sector banks including PSUs are increasing FD rates. Before this, many other banks including ICICI, HDFC, Federal Reserve have also increased the rates of fixed deposits. On the other hand, talking about the public sector, PNB, SBI, UBI, Indian Bank have announced an increase in deposit rates.
