Bajaj Finance's FD Book Reported 21% Growth To Rs 66.1 Crore For Q2

Bajaj Finance Ltd, part of Bajaj Finserv Ltd, has reported a growth of 21% in its Fixed Deposit book to Rs 66,131 crore as on September 30, 2024, a senior company official has said.

The company's total customer franchise stood at 92.09 million as of September 30, 2024 and net users on its App platform stood at 61.67 million.

"The Bajaj Group's century-old legacy of trust resonates across generations of Indian families. Bajaj Finserv is founded on the business philosophy of the Bajaj Group, which has encouraged people across demographics to choose its FDs," Sachin Sikka, Executive Vice President Deposits, Investments, Rewards and EMI Cards, Bajaj Finance, said.

Senior citizens can avail FD rates of up to 8.85% and non-senior citizens can take benefit of rates of up to 8.65% ,by booking digitally in the 42 months tenure, Sikka said.

Bajaj Finance has seen deposits growing in Punjab and Haryana, where senior citizens constitute nearly two-thirds of its deposits base. The company's FDs also highlight equal participation by male and female investors, Sikka added.

"... This multi-generational trust is driving us to continuously transform savers' experience through digital journeys, competitive interest rates and a safe investing platform," Sikka said.

Bajaj Finance has emerged as India's largest deposit-taking NBFC. It presents an opportunity for savers to secure stable and better returns in prevailing market conditions.

Bajaj Finance Ltd maintains the highest domestic credit rating of AAA/Stable from CRISIL and ICRA for its Fixed Deposit program. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings.