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Senior Citizens Can Secure their Golden Years by Earning More from Revised FD Rates



Preparing for retirement is a crucial step in one’s life. Having a proper financial plan can help one live their golden years stress-free. Since wealth generation takes time, one must start early and invest in a financial tool that provides a good yield. However, choosing a safe tool is necessary. One would not want to drain their life savings in a high-risk instrument at this stage in life.

A fixed deposit is a good investment option when looking to park one’s lifelong savings. This tool is safe and provides guaranteed returns at maturity. Since it is a fixed-income instrument that locks in interest rates the day one books an FD, it is easy to predict the returns using an FD calculator. Banks and post offices offer FD but usually at lower interest rates. NBFCs on the other hand offer higher returns. Bajaj Finance one of India’s leading and reliable NBFCs offers the higher senior citizen FD rates available in the market. They offer senior citizens additional rate benefits of up to 0.25% p.a. over and above base rates. Investors can get up to 8.60% p.a. on their deposits with Bajaj Finance. They have recently hiked their FD rates by up to 40 basis points making it a lucrative offer for senior citizens to earn great returns.

Here are the revised higher FD rates

Investor profile


Older interest rates

Revised interest rates

Senior citizens


7.90% p.a.

8.30% p.a.

Senior citizens


8.20% p.a.

8.60% p.a.

Senior citizens


7.90% p.a.

8.30% p.a.

Here is a tabular representation of a senior citizen investing Rs. 5,00,000, Rs. 10,00,000, and Rs. 15,00,000 in an FD with Bajaj Finance for 44 months. Here is how much they will receive at maturity.

Initial deposit


Interest rate

Maturity value

Rs. 5,00,000

44 months

8.60% p.a.

Rs. 6,76,622

Rs. 10,00,000

44 months

8.60% p.a.

Rs. 13,53,244

Rs. 15,00,000

44 months

8.60% p.a.

Rs. 20,29,866

As one can see, senior citizens can now earn higher returns thanks to the revised FD rates. Now is a great time to invest in this instrument as one can benefit from higher interest rates. Apart from attractive senior citizen FD rates, Bajaj Finance also offers a suite of benefits one can take advantage of. Here are a few:

Highest safety ratings

Investors can be assured of timely payouts and payments. Bajaj Finance is a reputed financial institution with financial stability backing the instrument. It has been accredited with the CRISIL AAA/STABLE and [ICRA]AAA(Stable) rating, pointing out the highest level of safety and stability. Investors need not worry about their savings when investing in a senior citizen FD with Bajaj Finance.

Flexible and special tenures

Bajaj Finance Fixed Deposit offers flexible tenures ranging from 12 to 60 months. Investors can choose from these tenures basis their financial goals and liquidity requirements. Bajaj Finance also offers a few special tenures that carry higher FD rates.

Non-cumulative option

Bajaj Finance offers both cumulative and non-cumulative FD options. In a cumulative FD, the interest is compounded and paid at the end of the decided tenure all at once. In a non-cumulative FD, the interest is paid out, monthly, quarterly, half-yearly, or annually. One can select the payout frequency. This is particularly useful for senior citizens who are looking to fund their daily expenses.

With the 100% online and paperless application process, investors can now book an FD from the comfort of their homes with minimal documentation. Just one click and one can start their investment journey towards a financially secure future with higher FD rates.

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-five-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 66.05 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 BB+/Positive and a short-term rating of B by S&P Global ratings.

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