HYDERABAD, JAN 3   :    Bajaj Finance Ltd. (BFL)’, a subsidiary of Bajaj FinServ Ltd, one of the country’s largest financial services groups, on Wednesday announced the launch of Digital Fixed Deposit (FD), offering exclusive rates of up to 8.85 percent on deposits booked via its App and Website.

The Bajaj FinServ app and website is simple, safe and seamless with near-instant FD booking, the company said in a release here.

Effective January 2, Bajaj Finance is offering upto 8.85% per annum to senior citizens for a tenure of 42 months for FDs booked on the Bajaj Finserv App and web.
Depositors below 60 years can earn up to 8.60 per cent per annum.

The revised rates will be applicable on fresh deposits and renewals of maturing deposits of up to Rs 5 crore for tenure of 42 months.

Sachin Sikka, Head – Fixed Deposits & Investments at Bajaj Finance, said, “The 2x times growth of our deposit book in 2 years is also a testament to the trust customers place in the Bajaj brand. Our FDs now enable depositors to think digital-first. It is built as a simple end-to-end digital journey with higher interest rates available exclusively on the Bajaj Finserv App and Web.”

Bajaj Finance has 76.56 million customers with 44.68 million net users on its App platform as on September 30, 2023.
The Bajaj Finserv App is the 4th most downloaded app in the financial domain on Playstore in India as per data.io report.

The company has emerged as the country’s largest deposit-taking NBFC with a consolidated deposit book of over Rs. 54,821 crore as on September 30, 2023, and with over 1.4 million deposits.

The Bajaj Finance Fixed Deposit program has the highest stability ratings with CRISIL’s AAA/Stable and ICRA’s AAA (Stable), offering one of the safest investment options for investors.

The company’s App also offers an Investment Marketplace where customers can access a wide array of mutual funds.(UNI)