New Delhi: Bajaj Finance, the lending arm of Bajaj Finserv Ltd increased interest rates on fixed deposits. The lender hiked the interest rates by 35 basis points for tenures between 15 months and 23 months. The new rates came into effect yesterday.
After the latest hike, senior citizens can receive up to 8.20% per annum on a tenure of 44 months.
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Depositors below 60 years can earn up to 7.95% per annum. Non-senior citizens can avail FD interest rates of up to 7.75% per annum while senior citizens can earn up to 8.00% per annum the special tenure of 33 months.
Earlier several private and public sector banks in the country had hiked interest rates. The hikes were announced as RBI last month raised the repo rate by 25 basis points to 6.50%. This was the sixth hike in a row since May 2022, in order to control inflation.
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