Summary: Bajaj Finance Limited currently publishes a cumulative public-deposit rate of 7.75% a year for non-senior customers and 8.15% a year for eligible senior citizens for tenors from 31 to 60 months, effective 7 October 2026. The product is an NBFC public deposit, not a bank deposit. Investors therefore need to read the rate card together with the deposit terms, liquidity restrictions, tax rules and issuer credit risk. In particular, DICGC deposit insurance does not cover deposits with non-banking financial companies, and a credit rating is neither insurance nor a guarantee of repayment.
- What the 7 October 2026 Bajaj Finance Rate Card Shows
- The quoted rate depends on the selected payout structure
- This Is an NBFC Public Deposit, Not a Bank Fixed Deposit
- DICGC cover does not apply
- Credit ratings are monitoring inputs, not repayment promises
- Cumulative Growth, Maturity Amount and Renewal Need Separate Checks
- A longer tenor creates reinvestment certainty but more liquidity exposure
- Premature Withdrawal Must Be Read With the Statutory Lock-In
- Ask for the net amount, not only the penalty percentage
- Income-Tax Treatment for Tax Year 2026–27
- NBFC payer thresholds differ from bank-specific thresholds
- Form 121 replaces the old Form 15G/15H framework for the new Act
- Practical Due-Diligence Controls Before and After Booking
- Frequently Asked Questions on the Bajaj Finance 31–60 Month Deposit
- 1. What rate applies to the 31–60 month cumulative option?
- 2. Is the 8.15% senior rate also the monthly payout rate?
- 3. Is this deposit protected by DICGC up to ₹5 lakh?
- 4. Does an AAA rating guarantee repayment?
- 5. Can the deposit be closed whenever cash is needed?
- 6. Is cumulative interest taxable only when the deposit matures?
- 7. Can every individual submit Form 121 to stop TDS?
- Key Takeaways
What the 7 October 2026 Bajaj Finance Rate Card Shows
Bajaj Finance Limited publishes fixed-deposit rates for deposits from ₹15,000 to ₹3 crore, with tenors from 12 to 60 months. The rate table states that the current rates are effective from 7 October 2026. For a cumulative deposit maturing in 31 to 60 months, the displayed annual rate is 7.75% for a non-senior customer and 8.15% for an eligible senior citizen. The shorter cumulative bands are 6.80% and 7.20% for 12 to 17 months, and 7.00% and 7.40% for 18 to 30 months, respectively. A depositor must confirm the live rate and eligibility at the time the application is accepted because the issuer may revise rates prospectively.
| Cumulative tenor | Non-senior rate p.a. | Senior-citizen rate p.a. |
|---|---|---|
| 12–17 months | 6.80% | 7.20% |
| 18–30 months | 7.00% | 7.40% |
| 31–60 months | 7.75% | 8.15% |
The quoted rate depends on the selected payout structure
The headline cumulative rate is the rate for interest payable at maturity. The same 31–60 month range has lower displayed rates when interest is paid during the tenor: for non-senior customers, 7.49% monthly, 7.53% quarterly, 7.61% half-yearly and 7.75% annually; for senior citizens, 7.86%, 7.91%, 7.99% and 8.15%, respectively. These alternatives serve different cash-flow needs and should not be compared by multiplying a monthly payout by twelve. The application, deposit receipt and maturity schedule should identify the chosen tenor, payout frequency, principal, contracted rate and maturity date.
This Is an NBFC Public Deposit, Not a Bank Fixed Deposit
Bajaj Finance Limited is a non-banking financial company. Its public deposit is a contractual liability of that company; it is not a savings or term deposit with a commercial or small finance bank. The Reserve Bank of India regulates deposit-taking NBFCs and prescribes prudential and public-deposit directions, but RBI registration, supervision or permission to accept deposits does not amount to a government or RBI guarantee of repayment. The depositor remains exposed to the issuer’s ability to meet principal and interest obligations.
DICGC cover does not apply
The Deposit Insurance and Credit Guarantee Corporation insures eligible deposits with insured banks within its statutory framework. Its official depositor guide expressly lists deposits with non-banking financial companies among deposits that are not insured. Accordingly, the ₹5 lakh bank-deposit insurance limit and its aggregation rules must not be applied to this Bajaj Finance public deposit. A depositor should not treat an NBFC deposit as protected merely because the issuer distributes it through a bank, broker, app or other intermediary.
Credit ratings are monitoring inputs, not repayment promises
The issuer’s current deposit page displays CRISIL AAA/STABLE and ICRA AAA(STABLE) ratings. Ratings express the rating agencies’ assessment at a point in time and can be reviewed, revised, suspended or withdrawn. They do not eliminate default risk, insure the deposit or substitute for reviewing the issuer’s latest financial statements, regulatory disclosures, rating rationales and deposit terms. This article reports the displayed ratings only as verified product information and does not rank the deposit or recommend it.
Cumulative Growth, Maturity Amount and Renewal Need Separate Checks
In a cumulative option, interest is accumulated according to the contractual compounding and payment terms and paid with principal at maturity. The maturity value shown by an online calculator is an estimate unless it is incorporated into the accepted deposit receipt. Differences can arise from the exact deposit date, tenor in months, day-count or compounding convention, tax deduction and rounding. The depositor should retain the application acknowledgement, payment proof, deposit receipt and maturity instruction and should reconcile the receipt against the application immediately.
A longer tenor creates reinvestment certainty but more liquidity exposure
A contracted rate generally remains attached to an accepted deposit for its booked tenor, subject to the governing terms. That does not make a long-tenor deposit risk-free. The depositor gives up access to funds, faces the issuer’s credit risk for longer and may incur a lower effective return if premature withdrawal becomes necessary. Automatic renewal, where selected or offered, is a new transaction at the rate and terms prevailing on the renewal date; the old rate should never be assumed to continue.
Premature Withdrawal Must Be Read With the Statutory Lock-In
RBI’s public-deposit framework for deposit-taking NBFCs permits public deposits within prescribed maturity parameters and includes a minimum lock-in before premature repayment, subject to specified exceptions and conditions. Bajaj Finance also publishes premature-withdrawal information and applies the terms governing the deposit. A customer who may need emergency liquidity should obtain the current schedule before booking and should not infer the payout from the headline maturity rate.
Ask for the net amount, not only the penalty percentage
A useful premature-closure illustration should show the principal eligible for repayment, the rate applicable for the period actually run, any reduction or penalty permitted by the terms, tax already deducted, and the net amount payable. The original maturity amount normally ceases to be relevant once the deposit is closed early. Loans against deposits, if available and approved, have their own interest cost, margin, documentation and recovery consequences and should not be described as cost-free liquidity.
| Document or control | What to verify | Why it matters |
|---|---|---|
| Accepted deposit receipt | Principal, tenor, rate, payout, maturity date and nominee | Establishes the booked contract |
| Premature-withdrawal terms | Lock-in, applicable rate, reduction and exceptions | Determines emergency liquidity value |
| Rating rationale and issuer disclosures | Current rating action, financial position and material developments | Supports ongoing credit monitoring |
| Interest/TDS certificate | Gross interest, tax deducted and PAN details | Supports return reporting and tax credit |
| Maturity instruction | Bank account, renewal choice and contact details | Reduces failed payout or unintended renewal risk |
Income-Tax Treatment for Tax Year 2026–27
For Tax Year 2026–27, the Income-tax Act, 2025 and the Income-tax Rules, 2026 govern current-year compliance. Interest on a fixed or public deposit is income and must be reported under the correct head and method applicable to the taxpayer’s facts; tax deduction at source is only a collection mechanism and does not convert gross interest into exempt income. A cumulative deposit can create taxable interest and TDS information before cash is received at maturity, depending on the statutory credit or payment rule and the issuer’s accounting. Taxpayers should reconcile the issuer’s interest certificate, Form 26AS and Annual Information Statement with their books or return data.
NBFC payer thresholds differ from bank-specific thresholds
Section 393 of the Income-tax Act, 2025 consolidates deduction-at-source provisions, including interest other than interest on securities. The higher threshold entries specifically applicable when the payer is a banking company, co-operative bank or post office should not be assumed for an NBFC payer. The exact deduction threshold, rate, PAN consequences and any exemption depend on the current statutory table, the recipient’s status and the payment facts. The depositor should confirm the issuer’s current TDS treatment rather than copy a bank-FD threshold into an NBFC deposit calculation.
Form 121 replaces the old Form 15G/15H framework for the new Act
The Income Tax Department’s current mapping and user manual identify Form 121 as the declaration under section 393(6) for receipt of specified income without deduction where the legal conditions are met. The declaration is not a general TDS waiver: the taxpayer must have nil estimated tax liability and satisfy the form’s eligibility and verification requirements. Filing an incorrect declaration can create tax, interest and penalty exposure. Even where no TDS is deducted, the underlying interest remains reportable and taxable according to the taxpayer’s applicable provisions.
Practical Due-Diligence Controls Before and After Booking
- Download or retain the official rate table showing the effective date and verify that the final receipt carries the promised rate.
- Confirm that the contracting entity is Bajaj Finance Limited and distinguish the issuer from the distributor or digital platform.
- Match the selected cumulative or periodic payout option to the household’s cash-flow needs and do not compare unlike payout rates as if they were identical.
- Read premature-withdrawal, nomination, repayment, renewal and grievance terms before transferring funds.
- Record that DICGC insurance is unavailable and consider issuer concentration across all deposits held with the same NBFC.
- Review interest and TDS records during each tax year instead of waiting until the maturity date.
Frequently Asked Questions on the Bajaj Finance 31–60 Month Deposit
1. What rate applies to the 31–60 month cumulative option?
The official table effective 7 October 2026 displays 7.75% a year for non-senior customers and 8.15% a year for eligible senior citizens, for interest payable at maturity. The rate should be rechecked when the application is accepted.
2. Is the 8.15% senior rate also the monthly payout rate?
No. For the same tenor range the displayed senior-citizen monthly payout rate is 7.86%; 8.15% is the annual or maturity-payable rate shown in the table. Payout frequency affects the quoted rate and cash-flow pattern.
3. Is this deposit protected by DICGC up to ₹5 lakh?
No. Bajaj Finance Limited is an NBFC, and DICGC’s official guide states that deposits with NBFCs are not insured. Bank-deposit insurance must not be attributed to this product.
4. Does an AAA rating guarantee repayment?
No. A rating is an agency opinion that can change. It is not deposit insurance, an RBI guarantee or a promise that principal and interest will always be paid on time.
5. Can the deposit be closed whenever cash is needed?
Premature repayment is governed by the statutory lock-in and the issuer’s current terms, including the rate payable for the completed period and any permitted reduction. The customer should obtain a net premature-payout quotation before acting.
6. Is cumulative interest taxable only when the deposit matures?
Not necessarily. Tax recognition and TDS may arise before maturity depending on the applicable law, the taxpayer’s accounting method and when interest is credited or paid. Annual interest certificates, AIS and Form 26AS should be reconciled.
7. Can every individual submit Form 121 to stop TDS?
No. Form 121 is available only when the statutory conditions are satisfied, including the required nil estimated tax liability. It does not make the interest exempt and an inaccurate declaration can have consequences.
Key Takeaways
- The verified 31–60 month cumulative rates effective 7 October 2026 are 7.75% for non-senior customers and 8.15% for eligible senior citizens.
- Bajaj Finance is an NBFC; this public deposit is not a bank FD and has no DICGC deposit-insurance cover.
- Cumulative, annual, half-yearly, quarterly and monthly payout options carry different displayed rates and should be compared on matching cash-flow assumptions.
- Premature liquidity is controlled by the applicable lock-in and issuer terms, so the net early-exit amount must be checked.
- Gross interest remains reportable; TDS is a tax credit, not the final tax, and Form 121 is conditional rather than automatic.
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Disclaimer: This article is prepared solely for general educational and editorial purposes from official information checked on 27 October 2026. It is not an invitation, advertisement, recommendation, rating, comparison, investment advice, tax opinion, legal advice or assurance that any person should place or retain money in a Bajaj Finance Limited public deposit. Bajaj Finance Limited is a non-banking financial company, and its public deposits are not bank deposits and are not insured by the Deposit Insurance and Credit Guarantee Corporation. RBI registration, regulatory supervision, eligibility to accept public deposits and any credit rating do not amount to an RBI, Central Government, DICGC, TaxGuru or rating-agency guarantee of repayment, liquidity, interest or principal. Rates, tenors, minimum and maximum amounts, senior-citizen eligibility, payout options, application channels, nomination, premature-withdrawal rules, loans against deposits, renewal, tax deduction and grievance procedures can change after the stated verification date or can differ according to the accepted application and depositor status. The deposit receipt and current issuer terms prevail over summaries and calculators. Tax treatment depends on residential status, entity type, accounting method, total income, tax regime, PAN status, statutory thresholds, declarations and the law applicable to the relevant tax year. Form 121 must not be submitted unless every legal condition is independently satisfied. Readers should verify the live rate card, governing deposit terms, latest financial statements, current rating rationales, regulatory disclosures, tax portal records and their own liquidity and concentration position, and should obtain advice from appropriately qualified financial, tax and legal professionals. Past payment, a high displayed rate or a rating is not a prediction of future performance. TaxGuru accepts no responsibility or liability for any loss of principal or interest, delayed payment, liquidity shortfall, tax demand, denied credit, incorrect declaration, regulatory change, misinterpretation, decision, action or omission arising from reliance on this article.
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