Manage your FD renewal
When you invest in a fixed deposit, you park your funds to earn interest on them for a pre-defined period of time. Once your FD matures, if you’ve opted for cumulative FD, you’ll receive your invested funds along with the interest accumulated.
However, if you’ve opted for non-cumulative FD, you’ll receive the principal and the interest amount as per your selected payout option.
If you wish to earn more interest on your invested amount to maximise your savings, you can opt for FD renewal. Bajaj Finance Limited offers the flexibility of choosing the renewal plan – the amount you want to reinvest and the tenure. You can renew your fixed deposit up to 24 hours before the maturity date.
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Renew your fixed deposits in My Account
You can renew your Bajaj Finance Fixed Deposit in a few clicks by visiting our customer portal – My Account.
- Visit your account by clicking on the ‘Sign-in’ button on this page.
- Enter your registered mobile number and submit the OTP to sign-in.
- Verify your details by entering your date of birth.
- Choose your fixed deposit from ‘My Relations’.
- Click on the ‘Renew your FD’ option from the ‘Quick Actions’ section.
- Check your existing FD details and click on ‘Proceed'.
- Select the details of the renewal plan, such as amount, tenure, and renewal option.
- Verify your details with the OTP sent to your registered mobile number and proceed with renewal.
You can click on the ‘Renew your fixed deposit’ text below to sign-in to My Account. Then, select your fixed deposit, click on ‘Renew your FD’ from the ‘Quick Actions’ section, choose your renewal plan, and proceed.
If your FD has a joint account holder, then the OTP will be sent to the joint account holder’s registered mobile number as well. However, primary account holder should initiate the renewal request.
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Other ways to renew fixed deposit
Apart from renewing your fixed deposit (FD) online, there are several other ways to renew it:
Branch visit: Visit your bank branch in person. Speak with a representative, fill out the necessary renewal forms, and provide your existing FD receipt. The bank will process the renewal based on your instructions.
Customer service: Call the bank’s customer service helpline. Verify your identity and provide details of your FD. The representative will guide you through the renewal process over the phone.
Email: Send an email to the bank’s customer service with your FD details and renewal instructions. Ensure you use the registered email ID linked to your account for verification purposes.
Mobile banking app: If your bank offers a mobile banking app, you can use it to renew your FD. Log in, navigate to the Fixed Deposits section, select your FD, and choose the renewal option.
Automatic renewal: Opt for automatic renewal when opening your FD. This ensures the deposit is renewed automatically at maturity under the same terms, unless you specify otherwise.
These methods provide flexibility and convenience, ensuring your investments continue to earn returns seamlessly
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You can renew your fixed deposits to make the most of the prevailing interest rates. Bajaj Finance Limited offers secured returns of up to 8.50%.
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Check your fixed deposits
Visit our customer portal and track your FD details easily.
Frequently asked questions
To stop your fixed deposit from renewing automatically, you need to notify your bank before the maturity date. You can do this by visiting the branch, calling customer service, or using online banking. Provide instructions to either withdraw the funds or transfer them to your savings account upon maturity, ensuring the automatic renewal feature is disabled.
Charges for premature closure of a fixed deposit typically include a penalty fee and reduced interest rates. The penalty varies by bank but usually ranges from 0.5% to 1% of the interest rate. Additionally, the interest earned may be recalculated based on the prevailing rates for the period the deposit was held, which could result in lower returns.
To close a fixed deposit, visit your bank branch or log in to your online banking account. Submit a request for premature closure, specifying the FD details. Complete any required forms and provide identification. The bank will process your request, apply any penalties, and transfer the funds to your designated account. Confirmation of closure will be provided once the process is complete.
You can check your fixed deposit status by logging into your bank’s online portal or mobile app and navigating to the Fixed Deposits section. Alternatively, you can visit your bank branch or contact customer service for assistance. The FD status will include details such as the principal amount, interest rate, maturity date, and current balance.
If a fixed deposit is not renewed or claimed upon maturity, the bank typically transfers the funds to a savings account linked to the FD or places the amount in an interest-bearing account at a lower rate. The specific action depends on the bank’s policy. It's advisable to provide renewal or withdrawal instructions before maturity to avoid automatic transfers or lower interest earnings.
