Bajaj Finance raises FD rates by up to 40 bps after RBI rate hike

Bajaj Finance, one of the largest deposit-taking non-banking financial companies (NBFCs), on Wednesday raised interest rates on fixed deposits (FDs) by 15-40 basis points (bps) across tenures of 12 to 60 months, with the revised rates effective October 7.

The move follows the Reserve Bank of India’s (RBI’s) six-member Monetary Policy Committee (MPC) raising the policy repo rate by 25 bps to 5.50 per cent from 5.25 per cent and changing its stance to calibrated tightening.

Following the revision, regular depositors booking fresh deposits will earn up to 7.75 per cent a year for deposits with a tenure of 31-60 months, compared with 7.40 per cent earlier.

Senior citizens will earn up to 8.15 per cent for the same tenure, up from 7.75 per cent earlier.

The NBFC has weighted the rate increase towards longer-tenure deposits.

Rates for regular depositors for 12-17 months have been raised by 20 bps to 6.80 per cent, while those for 18-30 months have been increased by 15 bps to 7 per cent.

For deposits with a tenure of 31-60 months, the rate has been raised by 35 bps to 7.75 per cent.

For senior citizens, the additional interest rate over regular deposits has been increased to 40 bps from 35 bps earlier.

Rates for 12-17 months have been raised to 7.20 per cent from 6.95 per cent, while those for 18-30 months have been increased to 7.40 per cent from 7.20 per cent.

For deposits with a tenure of 31-60 months, the rate has been raised by 40 bps to 8.15 per cent.

The NBFC is also offering an additional 10 bps to customers renewing their maturing deposits.

This takes the maximum rate to 7.85 per cent for regular depositors and 8.25 per cent for senior citizens for deposits with a tenure of 31-60 months.

The revised rates apply to both fresh deposits and renewals.

Depositors can opt for cumulative deposits, where interest is paid at maturity, or non-cumulative deposits with monthly, quarterly, half-yearly or annual interest payouts.

“Fixed Deposits continue to be an important part of a balanced savings portfolio, particularly for senior citizens looking for predictable returns. We have weighted our rate hike towards longer tenures, so depositors can lock in higher returns for up to five years,” said Sachin Sikka, senior executive vice-president, Deposits & Wealth Management, Bajaj Finance.

Bajaj Finance, a subsidiary of Bajaj Finserv, had 128 million customers as of September 2026 and assets under management of ₹5.85 trillion.