Special Scheme / You Can't Think: 39 Months FD is getting Mind-Blowing Interest, Benefit Only Benefit
Bajaj Finance has increased the interest rate on Fixed Deposit (FD). Bajaj Finance has made this change due to the increase in the repo rate by the Reserve Bank.
Bajaj Finance hikes interest rates on FDs
Bajaj Finance launched a special FD scheme of 39 months
Interest rate hiked by 0.25 percent on 39-month FDs
Non-Banking Finance Company (NBFC) Bajaj Finance offers great interest rates on Fixed Deposits (FD). Bajaj Finance has launched a special 39-month FD scheme offering interest at 7.85 per cent 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 44 months fixed deposits. He is getting 7.95 percent interest on this scheme. Similarly, general public will get interest rate of 7.70 percent on this scheme.
Sachin Sikka, Executive Vice President, Fixed Deposits and Investments, Bajaj Finance, said, "Earlier we used to change the FD interest rate once every 6 months. This time we made a quick improvement. He said that the increase in the FD interest rate was due to the increase in the repo rate of the Reserve Bank. The interest rate on 39 month FD has been increased by 0.25 percent.
The company has a depositor base of Bajaj Finance's Fixed Deposit Scheme. In which the average ticket per depositor is 3.5 lakhs. The company has a base of over 10 lakh FDs and 4.25 lakh depositors. A company may also cross sell financial products to its customers.
The repo rate was hiked by 0.50 percent in June, taking the repo rate to 4.90 percent. In August, the RBI again hiked the repo rate by 0.50 percent to 5.40. In September, it increased once again by 0.50 percent and the repo rate stood at 5.90 percent. Overall, the repo rate has increased four times this year so far.
