Get special fixed deposit rates: Here’s how to benefit from the latest schemes

In a rising-rate environment, getting a better FD rate can meaningfully improve your returns without taking market risk. If you prefer certainty and capital protection, a fixed deposit remains a dependable choice in India. Many issuers now offer limited-period or slab-based enhancements that reward the right tenure, payout option and investor category. By understanding these special structures and matching them to your goals, you can lock in an attractive FD rate with clarity on cash flows. This guide explains how to compare schemes, decode payout nuances, and use products such as Bajaj Finance FD to maximise your outcome.

Why special FD rate schemes matter now

Special offers are typically tied to select tenures or payout options and can lift your overall yield with no change to risk appetite. They suit investors who want guaranteed income or predictable compounding. In today’s market, even small differences in the FD interest rates add up over multi-year terms. These gains are especially valuable for retirees seeking steady monthly, quarterly, half-yearly or yearly income. For younger savers, cumulative compounding at a higher FD rate builds a stronger corpus over time.

Understanding how FD rates are quoted and paid

Issuers display rates for both cumulative and non-cumulative variants.

• Cumulative means interest is added to the principal and paid at maturity, enabling compounding.

• Non-cumulative means interest is paid out at regular intervals — monthly, quarterly, half-yearly or yearly — to your bank account.

The same fixed deposit can therefore deliver growth or income depending on the variant you choose. Always check whether an advertised FD rate refers to an at-maturity or payout option, as the numbers differ.

Cumulative fixed deposit and at-maturity rates

At-maturity rates suit investors who do not need interim cash flows. The interest compounds within the same fixed deposit for the entire tenure. This variant usually shows the highest headline FD rate in the same slab. It is efficient for long-term goals such as a home down payment, child’s education or building an emergency fund. Online booking and auto-renewal help you stay invested without idle gaps between maturities.

Non-cumulative payouts and income planning

Non-cumulative options pay interest monthly, quarterly, half-yearly or yearly. The quoted FD for these options is slightly lower than the at-maturity rate because interest paid out does not compound. Choose the payout frequency aligned to your expense cycle or retirement plan. For example, senior citizens may prefer monthly payouts to meet routine expenses, while yearly payouts can support insurance premiums or school fees.

Latest FD rate slabs at a glance

Below are the current FD rate slabs available for both senior citizens and non-senior citizens. Review tenure and payout frequency carefully before investing.

FD rates for customers above the age of 60 (Senior Citizens)

FD rates for customers below the age of 60 (Non-Senior Citizens)

How to maximise returns from special schemes

• Choose the right tenure: Special FD rate offers are usually concentrated in slabs such as 15–23 months or 24–60 months. Longer tenures benefit compounding, while shorter tenures balance access and returns.

• Ladder deposits for liquidity: Split investments across multiple tenures so part of your money matures periodically, reducing reinvestment risk.

• Use cumulative for growth, non-cumulative for income: Choose cumulative if you do not need regular cash flows. Opt for monthly, quarterly, half-yearly or yearly payouts if income is required.

• Time your booking and renewal: Special FD rates are time-bound. Renew promptly to capture favourable slabs or use shorter tenures if rates are expected to rise further.

Safety and credibility checks before investing

Company and NBFC FDs are not covered by DICGC insurance, which applies only to bank deposits. Safety is therefore assessed through credit ratings and issuer strength.

Bajaj Finance FD carries the highest safety ratings of ICRA AAA (Stable) and CRISIL AAA / Stable, indicating a very strong capacity to meet interest and principal obligations on time. Ratings are opinions, not guarantees, so investors should still diversify across issuers and maturities.

Practical examples to estimate interest

• Monthly income (non-senior):
  Rs. 10,00,000 at a monthly FD rate of 6.74% p.a. yields ~Rs. 5,616 per month before tax.

• Monthly income (senior):
  Rs. 10,00,000 at a monthly FD rate of 7.07% p.a. yields ~Rs. 5,892 per month before tax.

• Growth via cumulative FD:
  Non-senior investors earn 6.95% p.a. and senior citizens earn 7.30% p.a. in the 24–60 month slab, benefiting from compounding.

Tax and TDS considerations

• Interest earned on fixed deposits is taxable as per the investor’s income tax slab.

• TDS at 10% applies if total FD interest exceeds Rs. 50,000 for non-senior citizens and Rs. 1,00,000 for senior citizens in a financial year (FY 2025–26).

• Section 80TTB deduction up to Rs. 50,000 applies only to bank and post office deposits under the old tax regime, not to NBFC FDs.

• Bajaj Finance provides interest certificates to help investors manage tax filing efficiently.

Conclusion

With careful planning, you can capture a special FD rate and align it to your financial goals. Choose the right tenure, select between cumulative or monthly, quarterly, half-yearly or yearly payouts, and ladder deposits to balance liquidity and returns. Always evaluate issuer safety and credit ratings before investing. With its flexible structures and ICRA AAA (Stable) and CRISIL AAA / Stable ratings, Bajaj Finance FD offers a reliable way to lock in competitive FD rates while keeping outcomes predictable and transparent.