A Fixed Deposit Account Can Secure Your Future

If you have additional funds and are looking for a place to store it and earn interest as well, Fixed Deposits have been a solid and secure option for people.

Fixed Deposit account

Multiplying income is a vision everyone has, often thinking of various ways which can double the hard earned money. Although it may not be probable to increase income overnight, there are ways through which money can actually double, without any hazard on your part.

Contradictory to popular belief, you don’t have to invest in crooked schemes which guarantee to double your capital, for Fixed Deposits can do the same, in a safe and secure manner.

A Fixed Deposit is an investment and a kind of savings account in which money is accumulated for a fixed period of time and an established interest rate is paid at the end of that term.

It is a dependable investment option when compared to other investment types such as the money market or shares. Opening a Fixed Deposit account is both quick and easy and you have both Cumulative Fixed Deposit, Non-Cumulative Deposit schemes, and options to have a fixed deposit taxable saving scheme at Bajaj Finserv.

Why you Should Open a Fixed Deposit Account Today

  • It supports a savings habit as the money you deposit must be in the account for a period of time without you being able to make a withdrawal.
  • Investing in a Fixed Deposit account draws a higher interest rate than putting your money in a savings account.
  • You are guaranteed returns for your investment in the Fixed Deposit schemes.
  • You get to decide how long you want to invest your money in a Fixed Deposit account ranging from a month to many years.

Bajaj Finserv Fixed Deposit Scheme

These schemes operate under the strict rules and regulations of the Reserve Bank of India. Bajaj Finserv is comparatively safe, and investors are assured of the safety of the principal that they have deposited in bank savings schemes.


  • Fixed Deposit appears with FAAA (Stable) rating by CRISIL and MAAA (Stable) Rating by ICRA, contributing to the highest security for your investment.
  • Presence across more than 200 locations in India makes this easily accessible to a lot of people.
  • Online admittance to your Fixed Deposit account through the customer portal – Experia.
  • No Tax deduction at source on interest payment up to Rs. 5,000 p.a.

Fixed Deposit Interest Rates

At Bajaj Finserv there are no charges levied to open a Fixed Deposit account. The rate of interest per annum is valid up to Rs. 5 crores after the new ROI effective from the 5th of October, 2016.

Senior citizens who are more than 60 years are eligible for 0.25% p.a. additional interest for deposit size up to Rs.1 Crore. Bajaj group employees, Bajaj Finance Limited, existing loan customers and FD renewal customers are qualified for 0.10% p.a. added interest for deposit size up to Rs.1 Crore.

Payout Options:  Cumulative Fixed Deposit and Non-Cumulative Fixed Deposit

Non-cumulative Fixed deposit scheme means that the interest is payable on a monthly, quarterly, half yearly and yearly basis. This particular scheme will be beneficial for an individual who requires a regular interest payout.

In a Cumulative Fixed deposit, the interest is due at the point of maturity along with the principal and is increased annually. This scheme is fit for an individual who does not require periodical interest amount and wants a huge interest payout on maturity. This is a money multiplier scheme.

Taxable Interest on FD

The tax on interest from any Fixed Deposit is paid partly via TDS deducted by the bank and the rest by the individual. Under Section 194A of the Income Tax Act, 1961, in the case of interest earned from investments in fixed deposits covered by NBFCs, exceeds Rs. 5,000, interest income is taxable.

At a PAN Card level for the investors, the interest income will be given after consolidating all his Fixed Deposits. In case the depositor provides 15G/15H during the application stage, he will be excused from paying tax on his interest income. If the bank doesn’t have the PAN in its records, TDS is deducted at 20 percent on interest income.

Kevin Kholi

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