Bajaj Finance has hiked the interest rate on fixed deposits (FDs) by up to 30 basis points for tenures of between 24 and 30 months. The new rates on FDs of up to Rs 5 crore will come into effect from Friday and will be applicable on fresh deposits as well as renewals of maturing deposits.
Bajaj Finance FDs will bear special interest rates of 7.5% for all customers. For a tenure of 44 months, customers below 60 years will get a special rate of 7.50% while senior citizens would earn up to 7.75% per annum.
Bajaj Finance has reported a 31% growth in its assets under management (AUM) to Rs 2,18,350 crore as on September 30, 2022. The AUM in the second quarter grew by Rs 14,350 crore, the company said in a filing with the stock exchanges. The AUM as on September 30, 2021 stood at Rs 1,66,937 crore.
New loans booked during the second quarter were 6.8 million, compared to 6.3 million in Q2FY22. The company’s consolidated net liquidity surplus stood at Rs 9,300 crore as of September 30, 2022. Bajaj Finance’s deposit book grew 37% year-on-year to Rs 39,400 crore.