Business · India Bureau
Bajaj Finance hikes fixed deposit rates following RBI policy move
The non-bank financial company has increased fixed deposit rates by up to 40 basis points, with higher returns offered on longer maturity tenures. Senior citizens will receive preferential rates on their deposits.
LSN India ·
Bajaj Finance Limited has raised its fixed deposit rates across select tenures following the Reserve Bank of India's recent monetary policy decision. The NBFC has structured the rate increases to favour longer investment horizons, rewarding depositors who commit their funds for extended periods.
Regular depositors can now earn up to 7.75 per cent annually on fixed deposits under the revised rate structure, while senior citizens have access to rates as high as 8.15 per cent. The rate adjustment of up to 40 basis points reflects the company's response to the broader interest rate environment shaped by RBI policy moves.
The weighted approach towards longer tenures aligns with industry trends as financial institutions look to attract sustained deposits while managing their liability costs. Fixed deposit rates across the NBFC sector have become increasingly competitive as companies respond to evolving monetary conditions and deposit competition.
Depositors seeking fixed income options are now seeing improved returns across various maturity buckets, though rates continue to vary based on investment tenure and depositor category. The move underscores the dynamic nature of deposit rates in India's financial system as institutions adjust offerings in line with broader policy signals.