Bajaj Markets, a subsidiary of Bajaj Finserv, has teamed with Ujjivan Small Finance Bank to provide fixed deposits with interest rates of up to 8.25% and an extra 0.50% (8.75%) for elderly persons.
According to the Ujjivan Small Finance Bank and Bajaj Markets press release, “Investing in Ujjivan Small Finance Bank Fixed Deposits through Bajaj Markets presents a host of enticing features, an individual can invest an amount as low as Rs 1,000, making it accessible to a wide range of investors. Moreover, it offers remarkable flexibility, allowing individuals to choose between payouts at maturity or on a quarterly basis and even enabling investment in FDs without the need to open a savings account. The availability of various tenor options ensures that customers can align their investments with specific financial goals.”
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Senior citizens
It offers higher interest rates are available to seniors, and Tax Saver Fixed Deposits are advantageous for investors who understand taxes. The process will be streamlined by Bajaj Markets, who will provide a Fixed Deposit Calculator for simple planning and scheme comparison, as well as a quick application with little paperwork required.
Ujjivan Small Finance Bank
Ujjivan SFB offers an interest rate between 3.75% to 8.25% for general citizens on domestic fixed deposits and Sampoorna Nidhi.For senior citizens, the bank offers 4.25% to 8.75%. These rates are effective from June 1, 2023.
| Tenure | Interest Rate (p.a.) (Under ₹ 2 Crores) |
| 7 Days to 29 Days | 3.75% |
| 30 Days to 89 Days | 4.25% |
| 90 Days to 179 Days | 4.75% |
| 6 Months to 9 Months | 5.50% |
| 9 Months 1 Day to <12 months | 6.50% |
| 12 months | 8.25% |
| 12 months 1 Day to 13 months | 6.50% |
| 13 Months 1 Day to 559 Days | 8.00% |
| 80 Weeks (560 Days) | 8.25% |
| 561 Days to 989 Days | 7.50% |
| 990 Days | 7.75% |
| 991 Days to 60 Months | 7.20% |
| 60 months 1 Day to 120 Months | 6.50% |
| Additional Interest Rate for Resident Senior Citizens | 0.50% |
