Advantages of investing in a Bajaj Finance Fixed Deposit
- Assured returns: FDs provide a fixed interest rate, ensuring a predictable and assured income throughout the tenure of the investment. Bajaj Finance offers FD interest rates of up to 8.85% p.a.
- Capital protection: FDs, including those from Bajaj Finance, prioritise the safety of the invested capital. With reputed financial standing and highest safety ratings, such as CRISIL AAA/STABLE and [ICRA]AAA(STABLE), Bajaj Finance FDs ensure the security of the principal amount.
- Flexible tenures: Investors can choose the tenure of their FDs based on their financial goals, ranging from short-term to long-term periods. Bajaj Finance offers FD tenures ranging from 12 to 60 months.
- Regular income stream: Non-cumulative FDs offer periodic interest payouts, providing investors with a steady income stream, making them suitable for those seeking regular returns.
- Senior citizen benefits: Many financial institutions like Bajaj Finance offers higher interest rates to senior citizens, providing an additional benefit to individuals in their retirement years.
- Ease of investment: Opening an FD is a straightforward process, requiring minimal documentation. Online platforms have further simplified the investment process, making it convenient for investors.
These advantages make FDs an attractive investment option for those seeking stability, predictable returns, and capital protection.
Also read: FD Rate of Interest in Post Office
Monthly interest payout for a Rs. 1.5 Crore Fixed Deposit
The table below presents the interest amounts earned, considering various interest rates, for an investment of Rs. 1.5 Crore in an FD.
Deposit Amount
|
Interest Rate (p.a.)
|
Monthly Interest Payout
|
Rs. 1.5 Crore
|
6.00%
|
Rs. 75,000
|
Rs. 1.5 Crore
|
6.50%
|
Rs. 81,250
|
Rs. 1.5 Crore
|
7.00%
|
Rs. 87,500
|
Rs. 1.5 Crore
|
7.50%
|
Rs. 93,750
|
Rs. 1.5 Crore
|
8.00%
|
Rs. 1,00,000
|
Rs. 1.5 Crore
|
8.50%
|
Rs. 1,06,250
|
Rs. 1.5 Crore
|
9.00%
|
Rs. 1,12,500
|
Rs. 1.5 Crore
|
9.50%
|
Rs. 1,18.750
|
Rs. 1.5 Crore
|
10.00%
|
Rs. 1,25,000
|
How much monthly interest can be generated from a Fixed Deposit of Rs. 1.5 Crore?
Fixed deposits (FDs) are secure investments with minimal risk, often the preferred choice for those emphasising capital safety. FDs offer predetermined and fixed interest rates for the entire tenure, providing a comparatively higher return.
Bajaj Finance enhances flexibility by offering periodic interest payouts through the non-cumulative FD plan. Investors can choose from monthly, quarterly, half-yearly, or annual interest payouts based on their liquidity needs.
Investing Rs. 1.5 Crore in an FD with Bajaj Finance for the long term can result in a relatively higher interest rate. Adjusting the investment duration from 12 to 60 months allows investors to align corporate FDs with their short-term or long-term financial goals.
The following table shows the FD interest rates offered by Bajaj Finance on an FD of Rs. 1.5 Crore for a tenure of 60 months
Payout frequency
|
FD rates (Customers below the age of 60)
|
FD rates (Senior Citizens)
|
Monthly
|
7.77% p.a.
|
8.00% p.a.
|
Quarterly
|
7.82% p.a.
|
8.05% p.a.
|
Half-yearly
|
7.89% p.a.
|
8.13% p.a.
|
Yearly
|
8.05% p.a.
|
8.30% p.a.
|
At Maturity
|
8.05% p.a.
|
8.30% p.a.
|
Following are the calculation of interest earnings for Rs. 1.5 Crore fixed deposit if the payout frequency is “monthly”, for customers below the age of 60 and senior citizens.
Customers below the age of 60 investing in an FD:
Deposit Amount
|
Tenure
|
Interest rate (Payout frequency: Monthly)
|
Total Interest
|
Maturity Amount
|
Rs. 1.5 Crore
|
12 months
|
7.39% p.a.
|
Rs. 11,08,500
|
Rs. 1,73,73,000
|
Rs. 1.5 Crore
|
24 months
|
7.91% p.a.
|
Rs. 23,73,000
|
Rs. 1,73,73,000
|
Rs. 1.5 Crore
|
36 months
|
8.05% p.a.
|
Rs. 36,22,500
|
Rs. 1,86,22,500
|
Rs. 1.5 Crore
|
44 months
|
8.19% p.a.
|
Rs. 45,04,500
|
Rs. 1,95,04,500
|
Rs. 1.5 Crore
|
60 months
|
8.05% p.a.
|
Rs. 60,37,500
|
Rs. 2,10,37,500
|
*All calculations are done using the Bajaj Finance FD Calculator
Senior citizens investing in an FD:
Deposit Amount
|
Tenure
|
Interest rate (Payout frequency: Monthly)
|
Total Interest
|
Maturity Amount
|
Rs. 1.5 Crore
|
12 months
|
7.39% p.a.
|
Rs. 11,08,500
|
Rs. 1,61,08,500
|
Rs. 1.5 Crore
|
24 months
|
7.53% p.a.
|
Rs. 22,59,000
|
Rs. 1,72,59,000
|
Rs. 1.5 Crore
|
36 months
|
8.00% p.a.
|
Rs. 36,00,000
|
Rs. 1,86,00,000
|
Rs. 1.5 Crore
|
44 months
|
8.28% p.a.
|
Rs. 45,54,000
|
Rs. 1,95,54,000
|
Rs. 1.5 Crore
|
60 months
|
8.00% p.a.
|
Rs. 60,00,000
|
Rs. 2,10,00,000
|
*All calculations are done using the Bajaj Finance FD Calculator
Senior citizens benefit from a higher interest rate on a Rs. 1.5 Crore fixed deposit compared to individuals below the age of 60, courtesy of an additional interest rate advantage offered by Bajaj Finance. Choosing a cumulative Bajaj Finance FD enables you to earn a fixed monthly interest on a Rs. 1.5 Crore deposit. This stands in contrast to the cumulative FD option, which provides a lump sum amount at the maturity date instead of periodic payouts such as monthly, quarterly, half-yearly, or yearly.
Also read: FD Full Form
TDS on Rs. 1.5 Crore Fixed Deposit
Earning monthly interest on a Rs. 1.5 Crore Fixed Deposit may attract taxation, based on your income bracket. For Bank FDs, a 10% TDS rate applies if the interest income surpasses the threshold of Rs. 40,000. Senior citizens enjoy a higher threshold of limit of Rs. 50,000. Without a PAN card, the TDS on monthly interest for a Rs. 1.5 Crore bank FD increases to 20%. For NBFC FDs, TDS stands at Rs. 5,000, with a 10% rate on interest exceeding this limit.
Here is how to invest in a Bajaj Finance Fixed Deposit
- Click on the 'Open FD' option at the top of this page to access our online application form.
- Enter your 10-digit mobile number and verify the OTP sent to your phone.
- Specify the investment amount, select the investment tenure, and choose the payout frequency. Provide your PAN card details and date of birth.
- Complete your KYC: For existing customers, verify or edit details. New customers can complete KYC using Aadhaar Card.
- Review the displayed declaration carefully, agree to the terms and conditions, and enter your bank details. Proceed to payment.
- Finalise your investment using Net Banking/UPI or NEFT/RTGS.
Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) via your registered email and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will be sent to your email ID within 3 working days, subject to correct document submission.
Here is the eligibility criteria and documents required for opening a Rs. 1.5 Crore FD
Anyone can book our fixed deposit if they meet the basic criteria mentioned below.
- Nationality: Resident Indians / Non-Resident Indians
- Investor Type: Individuals, Senior Citizens, Minors, Sole Proprietorships, Partnership Firms, HUFs, Clubs, Associations, Societies, and Family Trusts
- Documents Required: PAN and any KYC document: Aadhaar card/Passport/Driving license/Voter ID
*Documents can also be fetched from registered KYC.
You can update KYC Via CKYC, OKYC & Digi locker
Non-Resident Indians (NRIs), Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI) can connect with our representative or write to us on wecare@bajajfinserv.in.
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