| FAQ | Answer |
|---|---|
| Who all can invest in Bajaj Finance FD through MoneyHoney? | Resident individual with more than 18 years of age as on date of application Non-resident Individuals, Overseas Citizen of India, Persons of Indian origin and Sole Proprietorships are not allowed to invest through this portal/app |
| Which interest payout options are available? |
Non-Cumulative - Interest will be paid to a customer based on scheme interest payment frequency
Cumulative scheme - Interest will be paid on maturity along with the principle. The interest will be compounded annually and the maturity amount will be subject to deduction of tax, wherever applicable. |
| How will I receive Fixed Deposit receipt? | Bajaj Finance will courier FDR certificate to your registered address within 3 weeks of FD opening |
| What is the penalty of closing FD prematurely? |
Up to 3 Months – No withdrawal (Lock-in period) (not applicable in death cases)
3 to 6 Months – 0% interest 6 to < 12 Months – 3% lower than the lowest rate specified by BFL at the time of placing the deposit 12 Months & above – 2% lower than the rate specified for the period for which the deposit has run |
| Is the interest on FD taxable? What is the taxable amount? |
Interest earned on FDs is taxable No tax deduction for interest amount up to Rs.5,000/- in a year If interest exceeds Rs.5000/- in a year, then tax will be deducted at rate of 7.5%. However, tax will not be deducted in case of submission of the following forms: Form 15H – For Senior Citizens (60 years & above) Form 15G – For citizens with age < 60 years However, if interest amount for the year exceeds Rs.2,50,000/- across all BFL FDs, TDS will be deducted even if Form 15G/H has been submitted. (INR 5,00,000/- in case of Senior Citizens) |
| How frequently is TDS deducted? | Quarterly |
| Where can I submit 15G/H form? |
Once FD is booked, 15G/H form can be submitted online on Bajaj Finance's customer portal “Experia” - https://customer-login. bajajfinserv.in/Customer. Your mobile number are the login credentials for Experia |
| Are there any benefits on renewal of FD? | Yes. Additional rate of 0.10% p.a. (for deposit size up to ₹5 Crore) is applicable on renewal |
| Bajaj Finance has changed the interest rates. Will that be applicable to my existing deposit? | No. FD is locked with a specific rate, you will continue to receive that rate till maturity. If you wish to avail the new rate, you need to invest in a new Fixed Deposit. |
| Is there any charge of opening the FD? | No, there are no charges of opening FD |
| Can I show this FD for tax exemption? | Bajaj Finance's FD investment cannot be shown as an investment under section 80C for tax deduction benefit. |
| When will TDS certificate be provided to the depositor? | The TDS certificate will be emailed to the depositor every quarter. |
| How can I change my Bank account details? | Download change of bank details form from https://www.bajajfinserv.in/forms-centre and submit it at your nearest branch. The list of branches is available on Bajaj Finance website |
| How can I apply for loan against FD? | Depositor can apply for loan against FD after 3 months of FD booking. Loan can be applied online on Bajaj Finance's customer portal “Experia” - https://customer-login.bajajfinserv.in/Customer. Your mobile number are the login credentials for Experia |
| Is loan against FD an overdraft facility? | No, it’s a term loan |
| Can I avail loan from BFL against FD of some other NBFC/bank? | No. BFL provides loan against BFL FDs only. |
| In spite of submitting form 15 G/H, my TDS got deducted. Whom should I get in touch with? | You can drop a mail to fd@bajajfinserv.in. BFL will initiate refund if case is genuine |
| I have lost my FD certificate /Receipt and require a new one | Please submit a written request duly signed by all the FD account holders at your nearest branch. The list of branches is available on Bajaj Finance website |
| Depositor has turned into NRI after depositing with us. What happens to his deposit? | In such a scenario, it is the duty of the depositor to inform BFL of the same in writing to fd@bajajfinserv.in, by submitting relevant documents. From the date of receipt of such documents, we will change the status of the deposit as NRI and taxation guidelines will apply accordingly. |
Money Honey Financial Services Pvt Ltd is an AMFI registered Mutual Fund Distributor (ARN- 60930). [Initial Registration Date: 07/05/2008 | Current Validity: 07/05/2022 to 06/05/2025 ]
DISCLAIMER : Investors are advised to go through the financial reports of the company and prospectus before investment. We do not assure in any manner what so ever, timely payment of your investments or interest / dividend / gain there on. Mutual Fund investment is subject to market risk. Read all documents carefully before investing