Bajaj Markets has partnered with some of India’s leading banks to offer tax-saver fixed deposits (FDs). Considering it’s the start of the financial year, this partnership aims to provide investors with a seamless way to reduce their tax liability while accumulating wealth.
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Claim tax deductions on tax-saver FDs!
Under the Income Tax Act, investing in Tax Saving FDs is a smart strategy to lower ones tax burden. These FDs offer investors the opportunity to claim deductions up to a maximum limit of Rs. 1.50 Lakhs per financial year. This is applicable under Section 80C of the Income Tax Act, 1961.
By partnering with reputable banks, Bajaj Markets ensures that investors can book a fixed deposit at competitive interest rates. Individuals can also browse a range of regular FDs issued by NBFCs, and choose from flexible tenors and interest payout options. This allows one to tailor their investments to suit their financial goals.
Browse the FD interest rates offered by the below-listed partners of Bajaj Markets:
Bank | Non-senior Citizen Interest Rates (p.a.) | Senior Citizen Interest Rates (p.a.) |
AU Small Finance Bank | 7.25% | 7.75% |
Ujjivan Small Finance Bank | 7.20% | 7.70% |
YES Bank | 7.25% | 8.00% |
Disclaimer: The above-mentioned interest rates are latest as of 11th April 2024, and subject to change at the discretion of the issuers.
Here are some key features of booking a tax-saver FD:
Lock-in Period: Mandatory lock-in period of 5 years; premature withdrawals are not allowed
Interest Payouts: Interest earned is compounded quarterly and is payable at maturity
Nomination Facility: Option to nominate a person to receive the proceeds of the FD in case of the investor’s demise
Renewal Option: Upon maturity, investors can choose to renew the FD for another term or opt for withdrawal
The investing process is simple, straightforward, and quick. To take advantage of these competitive interest rates, flexible options, and seamless application process, download the Bajaj Markets app or visit the official website.
About Bajaj Markets
Bajaj Finserv Direct, a subsidiary of Bajaj Finserv, is one of the fastest-growing fintech companies in India. It has two primary arms, Bajaj Markets, a financial marketplace, and Bajaj Technology Services, a techfin service provider.
Bajaj Markets is a marketplace that offers multiple financial products across all categories – Loans, Cards, Insurance, Investments, Payments, Pocket Insurance, and VAS. Bajaj Markets has partnered with trusted financial brands to offer “India ka Financial Supermarket”. A one-stop destination where its customers can explore a host of products that can help them achieve their financial life goals.
Having started its journey as a fintech, Bajaj Finserv Direct has also built a very strong business as a techfin. Through Bajaj Technology Services it offers a wide gamut of digital technology services which span Custom Applications, Enterprise Applications, Data & Analytics, Gen AI, Cloud Services and Digital Agency.
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Visit the Bajaj Markets website or download the Bajaj Markets’ app from the Play Store or App Store to experience “India ka Financial Supermarket”.
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