Fixed Deposit in Nelamangala

Learn more about fixed deposit interest rates in Nelamangala
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FD in Nelamangala
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4 min
26-June-2024

In today's uncertain financial landscape, finding a secure and reliable investment option is paramount for many individuals. Fixed deposits (FDs) have consistently been a trusted choice for those seeking stability and predictable returns on their savings. Nelamangala, a bustling town in the Bengaluru Rural district of Karnataka, offers a variety of FD options that cater to the diverse needs of its residents.

Why choose fixed deposit in Nelamangala?

  1. Safety and security: Fixed deposits are one of the safest investment options. Banks and NBFCs offering FDs are regulated by the Reserve Bank of India (RBI), ensuring a high level of security for your investments.
  2. Assured returns: One of the primary benefits of FDs is the guaranteed returns. Unlike equity markets or mutual funds, the returns on FDs are fixed and do not fluctuate with market conditions.
  3. Flexibility: Investors can choose the tenure of their fixed deposit based on their financial goals. Tenures typically range from 7 days to 10 years, offering flexibility to investors.
  4. Ease of investment: The process of opening a fixed deposit account is straightforward. Many financial institutions offer online services, making it convenient for residents to invest.

Pro tip

Bajaj Finance launches a new variant, "FD Max", for investments upto Rs. 25,000 . Bajaj Finance is providing one of the highest interest rates of up to 8.85% p.a.for senior citizens and 8.60% p.a. for non-senior citizens , in this variant.

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Features and benefits of Bajaj Finance Fixed Deposit

  1. Competitive interest rates: Earn up to 8.85% p.a. on your investment, fostering robust growth even during market fluctuations. This competitive rate ensures your money works hard for you, helping you achieve your financial goals.
  2. Senior citizen benefit: Recognising the financial needs of senior citizens, Bajaj Finance offers an additional interest rate increase of up to 0.40% p.a. for individuals aged 60 and above. This benefit can significantly add to the overall return on their FD investment.
  3. High credit ratings: Bajaj Finance holds top safety ratings of [ICRA]AAA(Stable) and CRISIL AAA/STABLE. These ratings indicate a low credit risk, which can be a reassuring factor for investors seeking a secure investment option for their funds.
  4. Loan against fixed deposit: Bajaj Finance offers a feature that allows you to utilize your FD as collateral for a loan. This provides flexibility by letting you access a portion of your invested amount (up to 60% for non-cumulative FD and 75% for cumulative FD) while the remaining principal continues to earn interest.

FD Max rates for customers below the age of 60

Bajaj Finance FD Max annualised rate of interest for customers below the age of 60 is valid for deposit up to Rs. 25,000 (w.e.f 14 November, 2024)

*Experience higher interest rate of up to 8.60% p.a. on a 42-month Digital FD Max, available on website and app.

Bajaj Finance Digital FD Max

New Product Launch
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
42* 8.60% 8.28% 8.34% 8.42% 8.60%

Special Period (FD MAX)
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
18* 8.00% 7.72% 7.77% 7.85% 8.00%
22* 8.10% 7.81% 7.87% 7.94% 8.10%
33* 8.30% 8.00% 8.05% 8.13% 8.30%
44* 8.45% 8.14% 8.20% 8.28% 8.45%

Regular Period (FD MAX)

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
12 - 14 7.60% 7.35% 7.39% 7.46% 7.60%
15 - 23 7.70% 7.44% 7.49% 7.56% 7.70%
24 - 35 8.00% 7.72% 7.77% 7.85% 8.00%
36 - 60 8.30% 8.00% 8.05% 8.13% 8.30%

FD rates for customers below the age of 60

Fixed Deposit annualised rate of interest for customers below the age of 60 is valid for deposit Rs. 25,001 and up to Rs. 3 crore (w.e.f 14 November, 2024)

*Experience higher interest rate of up to 8.40% p.a. on a 42-month Digital FD, available exclusively on website and app.

Bajaj Finance Digital FD
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
42* 8.40% 8.09% 8.15% 8.23% 8.40%

Customers below the age of 60 – Special Period
Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
18* 7.80% 7.53% 7.58% 7.65% 7.80%
22* 7.90% 7.63% 7.68% 7.75% 7.90%
33* 8.10% 7.81% 7.87% 7.94% 8.10%
44* 8.25% 7.95% 8.01% 8.09% 8.25%

Customers below the age of 60 – Regular Period

Tenure in
months
At maturity (p.a.) Monthly (p.a.) Quarterly (p.a.) Half yearly (p.a.) Annual (p.a.)
12 - 14 7.40% 7.16% 7.20% 7.27% 7.40%
15 - 23 7.50% 7.25% 7.30% 7.36% 7.50%
24 - 35 7.80% 7.53% 7.58% 7.65% 7.80%
36 - 60 8.10% 7.81% 7.87% 7.94% 8.10%

Eligibility criteria for booking a Bajaj Finance FD

  • Nationality: Resident Indians/ Non-Resident Indians (NRIs).
  • Types of investors: Individuals, Senior Citizens, Minors, Sole Proprietorships, Partnership Firms, HUFs (Hindu Undivided Families), Clubs, Associations, Societies, and Family Trusts.

Documents required fixed deposit

  • PAN card and any KYC document: Aadhaar card/ Passport/ Driving license/ Voter ID

Tax implications of fixed deposit

Interest earned on fixed deposits is taxable under the head "Income from Other Sources". Banks deduct TDS (Tax Deducted at Source) at 10% if the interest income exceeds Rs. 40,000 in a financial year (Rs. 50,000 for senior citizens). To avoid TDS deduction, you can submit Form 15G/15H if your total income is below the taxable limit.

Conclusion

Fixed deposits in Nelamangala continue to be a preferred investment option due to their safety, assured returns, and flexibility. By selecting the right bank and tenure, investors can effectively grow their savings while enjoying peace of mind. Whether you are planning for short-term goals or long-term financial security, FDs in Nelamangala offer a dependable and convenient investment solution. As with any financial decision, it is advisable to compare different options and consult with a financial advisor to make the best choice for your individual needs.

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.