While there are many ways in which you can increase your earnings with a fixed deposit, special tenors stand out. They refer to durations for which you can book your fixed deposit and earn a higher FD interest rate from issuers like Bajaj Finance.
Special tenors usually fall between annual timelines of say 12, 24, or 36 months and apply to 15, 18, 22, or 30 months instead. When you start a Bajaj Finance FD for a special tenor, you stand to increase your interest earnings.
For instance, when you book a Bajaj Finance Fixed Deposit for 44 months, you get an FD interest rate of 7.95% as a senior citizen with a payout at maturity. This is more than the rate of 7.75% for 45 to 60 months and 40 to 43 months.
Read on for an in-depth understanding of how you boost your returns with a Bajaj Finance FD by choosing a special tenor.
Overview of Special Tenors from Bajaj Finance
Since you can maximize your earnings with special tenors, take a look at the table below to understand the Bajaj Finance FD rates for such durations.
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For non-senior citizens
Disclaimer: The special tenor rates are subject to change as per the issuer.
For senior citizens
| Special Tenor (in months) | Special FD interest rates (at maturity) |
| 15 | 7.20% p.a. |
| 18 | 7.25% p.a. |
| 22 | 7.35% p.a. |
| 30 | 7.55% p.a. |
| 33 | 7.55% p.a. |
| 39 | 7.85% p.a. |
| 44 | 7.95% p.a. |
Disclaimer: The special tenor rates are subject to change as per the issuer.
When you book an FD for a special tenor, choosing to get all your earnings at maturity helps you increase your payout rather than receiving your interest at regular intervals. Thus, the special tenor FD interest rates are higher for cumulative FDs in contrast to non-cumulative FDs.
To see how choosing a special tenor can boost your earnings, compare an investment of Rs.2 Lakhs for 43 and 44 months.
For non-senior citizens choosing a cumulative FD
| Tenor in months | Rate of interest | Total interest earned | Maturity amount |
| 43 | 7.50% | Rs.59,165 | Rs.2,59,165 |
| 44 | 7.70% | Rs.62,515 | Rs.2,62,515 |
These results were calculated using the Bajaj Finance FD calculator.
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For senior citizens choosing a cumulative FD
| Tenor in months | Rate of interest | Total interest earned | Maturity amount |
| 43 | 7.75% | Rs.61,332 | Rs.2,61,332 |
| 44 | 7.95% | Rs.64,756 | Rs.2,64,756 |
These results were calculated using the Bajaj Finance FD calculator.
Knowing this can thus help you invest systematically and gain better returns.
How to Optimise Your Earnings as a Senior Citizen with a Special Tenor
The best part about the Bajaj Finance FD for senior citizens is that it offers higher earnings, no matter what the prevailing FD interest rate is. As a senior investor, you are eligible to get an additional 0.25% over the regular rates. This holds true for special tenors too.
Choosing a longer special tenor is key as the more time you give to your FD to continue accumulating interest, the more you earn. The same principle applies to cumulative and non-cumulative FDs.
However, the latter is advantageous when you require a regular source of earnings as a retiree.
Here, your regular returns are based on the interval you choose such as monthly, quarterly, half-yearly or annually.
Look at the table below to understand the cumulative and monthly payout options for an investment amount of Rs.2 Lakhs for a special tenor.
| Tenor in months | Payout option | Rate of interest | Total interest earned | Maturity amount |
| 44 | Non-cumulative, monthly payout | 7.67% | Rs.56,247 | Rs.2,56,247 |
| 44 | Cumulative | 7.95% | Rs.64,756 | Rs.2,64,756 |
These results were calculated using the Bajaj Finance FD calculator.
Other Benefits of a Bajaj Finance FD
While investing in a Bajaj Finance FD can fetch you higher interest rates for special tenors, you can access other benefits of this investment vehicle too. For example, during a financial crunch, you can avail a loan of up to 75% of your FD amount.
What’s more, you can start your FD investment with only Rs.15000, which means you don’t have to wait too long to save to begin your investment journey. Moreover, you can rest assured that your funds are growing safely and away from market volatility since CRISIL and ICRA have given the Bajaj Finance FD the highest safety ratings.
With the many choices of payout frequency, you can choose the ideal one to best address your financial goals while benefiting from the recent FD interest rate hike of 25 bps by Bajaj Finance.
Thanks to simple digital processes, you can book your FD with Bajaj Finance from the comfort of your home.
This way, the Bajaj Finance FD allows you to grow your portfolio by locking in your corpus at a fixed interest rate. Make sure to use the online FD calculator to assess your interest earnings before you book your FD and boost your financial health today.
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