Download Bajaj Finance to offer higher returns on smaller fixed

Bajaj Finance to offer higher returns on smaller fixed deposit
•
•
•
Adds a new cap of minimum deposit of Rs. 25000 in the fixed deposit scheme
Addresses the popular demand witnessed amongst its 15 MM customers franchise
Company expects 60% increase in depositors count and double its FD Book in the
next 12 months
Mumbai, April 5, 2017: Bajaj Finance Ltd, India’s most diversified NBFC, today announced a
new minimum cap of Rs. 25000/- in its best in class AAA rated Fixed Deposits. In an intend to
maximise the returns for its customers, Bajaj Finance, the lending and investment arm of Bajaj
Finserv will offer an annual cumulative interest rate of 8.05% for a tenor of 36-60 months on
the reduced amount. This will also address the saving needs of mass retail category that are
looking for assured returns with a credible savings instrument.
This step comes as a results of the huge demand from its 15 MM customer base, to have
access to quality FD investment at a lower cap of Rs. 25,000. This will also allow small
depositors to generate higher returns through traditional savings product.
Earlier, for depositors in National Capital Region and Greater Mumbai, the minimum deposit
amount was INR 75,000 –and for rest of India the minimum deposit was INR 50,000. The new
minimum cap of Rs. 25,000/- will be applicable across the country with immediate effect.
Bajaj Finance Ltd expects 60 per cent increase in new deposit origination which is currently at
6000 Cr. and FD Book to double to to Rs. 8500 Cr.
Commenting on this initiative Mr. Sachin Sikka, Business Head, Fixed Deposit , Bajaj Finance
Ltd said: We are extremely excited to be part of the investments and savings portfolio of retail
investor. Fixed Deposits from a brand like Bajaj Finance gives huge comfort of trust as well as
fulfils returns aspiration on the overall balanced savings approach. Currently we service elite
category of depositors and have seen exceptional demand from retail depositor who want to
save regularly and that too with AAA rated fixed instruments in the range of 25,000 to 50,000,
by regularly investing in smaller value.”
The Bajaj Finance Ltd Fixed Deposit Scheme allows flexible return options i.e. monthly,
Quarterly, half yearly and annual return options with attractive interest rates. Additionally,
senior citizens also get an additional benefit of 0.25% for deposit size upto INR 1 Crore.
Tenor in Months Cumulative
12 – 13
24 – 35
36 – 60
7.80%
8.00%
8.05%
Monthly
7.53%
7.72%
7.77%
Non- Cumulative
Quarterly
Half Yearly
7.58%
7.65%
7.77%
7.85%
7.82%
7.89%
Annual
7.80%
8.00%
8.05%
Bajaj Finance Ltd one of the very few NBFCs in India to be awarded the highest credit rating
of FAAA/ Stable by CRISIL and MAAA (Stable) Rating by ICRA for its Fixed Deposits.
About Bajaj Finance Ltd.:
Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv group, is one of the
most diversified NBFCs in the Indian market catering to more than 19 million customers across
the country. Headquartered in Pune, the company’s product offering includes Consumer
Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against
Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler
Loans, Construction Equipment Loans, Loan against Securities and Rural Finance which
includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory
Services. Bajaj Finance Limited prides itself for holding the highest credit rating of
FAAA/Stable for any NBFC in the country today.
To know more please visit https://www.bajajfinserv.in/finance/
For further media queries please contact:
For Bajaj Finance Ltd. –
Mohua Mandal
Bajaj Finance Ltd
+919673995848
Zohar Reuben
Ketchum Sampark
+919820920816