Bajaj Finance offers increased interest rates on deposits, Stock raises 1%

he stock was near the day's high of Rs7120 per piece. 

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New Delhi: NBFC-major Bajaj Finance has increased interest rates on deposits up to Rs5cr by 30 basis points or 0.3% for various tenors. The new rates have come into effect starting this month.

Bajaj Finance offers 5.65% annually on deposits for tenors like 12-23 months, while 6.4% is offered on deposits for tenors between 24-35 months.

6.80% rates are given on the highest tenors between 36-60 months.

The above-mentioned rates are applicable for deposits starting from Rs25,000 to Rs5cr.

Senior citizens will benefit the most from this hike as the company offers additional rate benefits up to 0.25% per annum for citizens above 60 years of age.

Bajaj Finance highlighted that those below 60 years of age can earn the highest fixed deposits rates of up to 6.8% by investing online, whereas senior citizens can get secured returns of up to 7.05%, one of India’s highest FD interest rates.

At around 11.03 am, Bajaj Finance was trading at Rs7101 per piece up by Rs61.50 or 0.87% on Sensex.

The stock was near the day’s high of Rs7120 per piece. 

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