Bajaj Finance – One of the leading Non-Banking Finance Company have come with fixed Deposit Scheme w.e.f January 16, 2013.
Bajaj Finance Deposit will offer investors different options like Cumulative,Monthly interest,Quarterly Interest and annual interest income options.
This will be ongoing deposit scheme.company can raise capital of Rs.4897.34 Crore through this fixed deposit scheme.
Credit Rating :
FAAA -by CRISIL – which indicates highest quality.
Interest rate details of Bajaj finance Fixed Deposit Scheme are as below:
Cumulative Scheme:
|
Deposit Tenure – Months |
Interest rate – compounded per annum |
|
12 |
9.75% |
|
24 |
9.75% |
| 36 |
10% |
|
48 |
9.75% |
|
60 |
9.75% |
Non-Cumulative options :
Monthly Interest payment :
Under this plan,interest payment on monthly basis and interest will be credited in depositors account on last day of each month.
Quarterly Interest income plan :
Interest will payable at the end of each quarter Viz. March,June,sept and Dec.
Half-Yearly Income plan :
Interest will paid to depositor on half yearly basis Viz. at the end of Sept and March.
Interest rate for above mentioned non cumulative plans are as below:
| Deposit Tenure – Months | Interest rate – per annum basis. |
| 12 |
9.35% |
|
24 |
9.35% |
| 36 |
9.50% |
|
48 |
9.35% |
| 60 |
9.35% |
Annual Interest payment Option:
Under this plan interest will paid out to investor on annual basis..on March end every year.Interest rate for Annual interest payment option are as similar to Cumulative mode.
0.25% Extra rate – for Senior citizens,Bajaj Group employees and Bajaj Finance Live Customers.
Tax Deducted at source – TDS will be applicable if depositor have not provided 15G or 15H form and interest exceeds Rs 5000 in financial year.
Profit Report of Bajaj Finance :
Profit after Tax – Net Profit Reported by Bajaj Finance :Profit Report of Bajaj Finance last 03 years.company have shown incremental profits and dividends since last 3 years:
| Year Ended | Profit After Tax | Dividend Paid -% |
| March 2009 | 33.92 | 20 |
| March 2010 | 89.41 | 60 |
| March 2011 | 246.96 | 100 |
| March 2012 | 406.44 | 120 |
| March 2013 | 591.31 | 150 |
Minimum Deposit size :
Minimum Deposit size may be of some concern for interested retail depositors.Company have prescribed region wise minimum deposit size and deposits higher than the minimum size only will be accepted.Region wise minimum deposit size will be as below:
| Region | Min Deposit Size |
| Greater Mumbai,Navi Mumbai,Thane,NCR | 1.50 Lakh |
| Pune,Banglore,HyderabadAhmedabad,Kolkata,Chennai | 1 Lakh |
| Rest Of India where Bajaj finance branch present – Cumulative mode | 50,000 |
| Rest Of India where Bajaj finance branch present – Non -Cumulative mode | 1 Lakh |
So check about your region and min deposit size applicable.
Bajaj finance is reputed company and one can consider to invest the deposits of Bajaj finance.Interest rate of 10% for period of 36 months (10.25%for above mentioned preferred depositors) looks better for me.
