Comments
Bajaj Finance Limited, a deposit-taking NBFC and part of Bajaj Finserv, has achieved a milestone with its fixed deposits book crossing the ₹50,000-crore mark.
This non-banking finance company (NBFC) has half-a-million depositors, with each each depositor having placed 2.87 deposits, totalling 1.4 million.
Sachin Sikka, Executive Vice-President, Fixed Deposits & Investments, Bajaj Finance, said: “We have focussed on offering long-term savings solutions for our customers at attractive interest rates.
“The rapid growth of our fixed deposits portfolio, which increased twice over in the last two years, is reflective of the customer trust in the Bajaj Finserv brand, the ease of booking fixed deposits digitally, and our country-wide presence.”
Bajaj Finance has the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings; A1+ for its short-term debt programme from CRISIL, ICRA and India Ratings; and AAA (Stable) for its fixed deposits programme from CRISIL and ICRA.
Bajaj Finance offers among the highest interest rates on FDs for a tenor of 44 months, at 8.60 per cent for senior citizens and 8.35 per cent for others.
Over 10 years, the company has grown its deposit book at a CAGR of 60 per cent and depositor count at CAGR of 49 per cent.
Bajaj Finance has 73 million customers and 40.2 million customers on its app. The company has been seeing a significant number of its customers across age groups opting for FDs through its digital channels.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.