Mumbai: Bajaj Finance have gone hiking Rate of interest Its fixed deposits have been increased by 25 basis points by introducing 42 month deposits with an interest rate of 8.6% for the general public and 8.85% for senior citizens. The interest rate on 42 month deposits is favorable compared to 8.35% offered on 44 month deposits.
The 42-month scheme called ‘Digital Fixed Deposit’ can be booked from the app, online or through assisted digital mode at the branches.
The rate increase comes in the wake of the RBI asking finance companies to diversify their funding sources.