Bajaj Finance Fixed Deposit

A Fixed Deposit or FD is a safe investment option that helps investors to multiply their savings. The Bajaj Finance Fixed Deposits offers up to 6.50% FD interest rates for regular depositors and up to 6.75% FD interest rates for senior citizens.
Investing in a Bajaj Finance Fixed Deposit is simple and quick. It is an end-to-end paperless online process that you can access anytime from the comfort of your home. You can also open it offline by walking into your nearest branch of the Bajaj Finserv and follow the process.

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Eligibility

The following are the eligibility criteria for opening a Bajaj Finance Fixed Deposit account:

  • A resident Indian citizen or NRI or OCI, or PIO can open an FD account in Bajaj Finance
  • Hindu Undivided Family (HUF) is eligible to open an FD account
  • Clubs, associations, and societies are eligible to open an FD account
  • Family trusts are eligible to open an FD account
  • Sole proprietorships, partnership firms, and companies including group companies can also open an FD account

Documents Required

The following documents must be submitted to complete the application process:

  • For individuals, the documents required to open a Bajaj Finance FD account are:
    • Passport size photograph of the investor
    • PAN card
    • approved ID documents like Aadhaar card, Driving License, Voter ID, and Passport
  • For Public or Private Limited Company, the required documents are:
    • Certificate of incorporation or registration
    • Memorandum and articles of association
    • Board resolution for opening an account
    • Company PAN
    • Latest electricity bill or telephone bill or bank account statement.
    • KYC of the authorized signatories.
  • For a partnership firm, the required documents are:
    • Certificate of registration
    • PAN
    • Partnership deed
    • KYC of the authorized signatories.
  • For Hindu Undivided Family or HUF, the required documents are:
    • PAN
    • Hindu Undivided Family (HUF) deed and declaration
    • KYC of Karta
  • For Statutory Board or Local Authorities, the required documents are:
    • Copy the permission to invest granted by the Government Authority or respective Ministry
    • Certificate of incorporation or registration
    • PAN Card
    • Latest electricity bill or telephone bill or bank account statement.
    • KYC of the authorized signatories.
  • For Registered societies, the required documents are:
    • Certificate of incorporation or registration
    • Board resolution for the investment
    • PAN Card
    • Latest electricity bill or telephone bill or bank account statement
    • KYC of the authorized signatories

Benefits of a Bajaj Finance Fixed Deposit

The benefits of investing in a Bajaj Finance FD are:

  • Financial Planning: An FD is a low-risk, safe instrument for investors to deposit their money and earn interest. This compounding helps the investors to plan their future financial and future goals in their life.
  • Beating Inflation: Bajaj FD provides an interest rate of up to 6.75%. The compounding helps in beating inflation.
  • Online Process: Bajaj Finance Limited provides an effortless and fast process of online FD account opening.
  • Systematic Deposit Plan: Systematic Deposit Plan or SDP is a monthly saving option to make small systematic monthly deposits. The rate of interest prevailing on the date of depositing the principal is offered for its term.

How to Invest in a Bajaj Finance Fixed Deposit Account?

Bajaj Finance Limited company has two methods of FD account opening online and offline mode. They also accept deposits in three methods: offline, online, and systematic deposit plan (SDP).

Here’s how you can invest in the scheme: 

  • For the offline method, you have to visit any nearest Bajaj Finserv branch and submit the application form. A complete KYC must be done along with submitting a cheque. The account becomes functional once the process is complete. You can open a fixed deposit account or a systematic deposit plan account as per your requirement.
  • For the online method, you have to follow these steps:
    • Visit their official website.
    • Under products, click on ‘Fixed Deposit.’
    • You have to click on ‘Invest Now.’
    • You have to enter your mobile number and date of birth and verify the OTP to continue.
    • If you are an existing customer, you just have to enter the nominee’s details to continue. In case you are a new customer, complete the KYC process by PAN or Aadhar or by uploading documents.
    • Enter investment details such as investment amount, tenor, and interest payout type, and also provide your bank account details.
    • Now complete the payment. You can pay using Net Banking or UPI. However, you can only deposit up to Rs 1,00,000 through UPI.
  • For the online opening of a Systematic Deposit Plan (SDP) Account, you have to follow these steps:
    • Visit their official website.
    • Under products, click on ‘Fixed Deposit.’
    • You have to click on ‘Invest Now.’
    • You have to enter your mobile number and date of birth and verify the OTP to continue.
    • If you are an existing customer, you just have to enter the nominee’s details to continue. In case you are a new customer, then complete the KYC process by PAN or Aadhar or by uploading documents
    • Choose your preferred scheme and enter the investment details, such as deposit amount, deposit frequency, and tenor, with your bank account details. Also, select the auto-debit date for the systematic deposits. 
    • Now complete the payment. You can pay using Net Banking or UPI. However, you can only deposit up to Rs 1,00,000 with UPI.

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Written By: PolicyBazaar - Updated: 13 October 2021

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