A fixed deposit is a safe investment option that allows you to invest a lump-sum amount for a pre-defined period and offers secured returns.
However, it’s important to manage your fixed deposits to maximise the benefits you receive on your invested amount.
Bajaj Finance Fixed Deposit has the highest safety and credibility ratings, ensuring that your invested amount is secured with us. We also offer a host of self-service options in our customer portal – My Account , to help you manage your fixed deposit.
Sign-in to get started and make the most of the benefits mentioned below:
Every time you book a fixed deposit with us, you’re assigned a unique string of numbers known as the FD number. Your FD number helps you track details, such as maturity amount, rate of interest, date of maturity and more.
You can check all these FD details and much more by visiting your account with Bajaj Finserv.
Besides using the internet banking portal, there are several ways to check fixed deposit details. Customers can contact their bank's customer service hotline and provide the required information to receive their account details. Visiting a branch and enquiring in person is another option; bank staff can assist with specific queries. For those who prefer physical documents, banks often send regular statements by post, which include fixed deposit information. Mobile banking apps are also a convenient tool, allowing access to account details, transaction history, and fixed deposit particulars. Lastly, some banks offer SMS services where account information is sent directly to your phone.
You can also check your fixed deposit details by clicking on ‘View your FD details’. You’ll be asked to sign-in to your account where you can select FD and find details.
When you invest in a fixed deposit, you park your funds to earn interest on them for a pre-defined period of time. Once your FD matures, if you’ve opted for cumulative FD, you’ll receive your invested funds along with the interest accumulated.
However, if you’ve opted for non-cumulative FD, you’ll receive the principal and the interest amount as per your selected payout option.
If you wish to earn more interest on your invested amount to maximise your savings, you can opt for FD renewal. Bajaj Finance Limited offers the flexibility of choosing the renewal plan – the amount you want to reinvest and the tenure. You can renew your fixed deposit up to 24 hours before the maturity date.
You can click on the ‘Renew your fixed deposit’ text below to sign-in to My Account. Then, select your fixed deposit, click on ‘Renew your FD’ from the ‘Quick Actions’ section, choose your renewal plan, and proceed.
If your FD has a joint account holder, then the OTP will be sent to the joint account holder’s registered mobile number as well. However, primary account holder should initiate the renewal request.
These methods provide flexibility and convenience, ensuring your investments continue to earn returns seamlessly
Show More Show LessFixed deposit receipt (FDR) is a document, which is issued once you book an FD with Bajaj Finance. A physical copy of this FDR is also sent to your registered address.
Alternatively, you can click on the below link to download your fixed deposit receipt.
If there’s a query or a concern, you can reach out to us in one of the following ways:
When you choose to invest in a fixed deposit, you can also add a nominee. This facility ensures that your FD is easily transferred to your loved ones in the event of your untimely demise.
However, if you don’t add a nominee, claiming the FD amount in the event of your untimely demise becomes difficult. In such a case, your rightful heir(s) may be asked to produce a court order or a succession certificate to claim the FD on maturity.
You can also update your nominee details by clicking on the ‘Manage your FD nominee details’ text below. Then, select your FD, and click on the ‘Add Nominee’ or ‘Edit Nominee’ option below the ‘Nominee Details’ section. Enter the required details and proceed.
If your FD has a joint account holder, then the OTP is sent to their registered mobile number as well. However, only the primary accountholder of the FD can initiate renewal changes.
Nominees in fixed deposit accounts play a crucial role in ensuring that the depositor’s assets are smoothly transferred in the event of their death. The nominee is a person chosen by the account holder to receive the proceeds of the fixed deposit upon the depositor’s demise. This designation is vital as it bypasses the often lengthy legal processes involved in asset transfer, such as obtaining a will or legal heir certificate. By appointing a nominee, the depositor ensures that the funds are quickly and efficiently passed on to their intended recipient. It is important to note that while the nominee receives the funds, they do so as a custodian and may not necessarily be the sole legal heir. Therefore, a nominee’s role is to facilitate the transfer, but the ultimate distribution of assets might still be subject to legal inheritance laws.
Show More Show LessWhen you open a fixed deposit with us, you use a bank account from which you invest money. This bank account, by default, becomes your maturity bank account, which means that once your FD matures, you’ll receive funds in this account.
If there’s any change in your bank account during your FD tenure, you can update the same by raising a request in My Account.
You can also directly visit our customer portal by clicking on ‘Update maturity bank account’ below. Once signed-in, you’ll be redirected to the ‘My Relations’ section. You can then select your FD, click on ‘Update Bank Account’ below your bank details section, and proceed to raise a request.
After you submit your request, a representative will contact you within 48 business hours to guide you through the next steps.
Show More Show LessTDS or Tax Deducted at Source is a tax that gets deducted from your interest payable. Although a fixed deposit is one of the safest investment options, the interest earned on it is considered part of your income. Therefore, TDS applies to this interest amount.
However, if your total income is below the minimum tax limit, you can declare the same by submitting Form 15G/ H for a TDS waiver. If your age is below 60, you need to submit Form 15G, while if you are above 60, you need to submit Form 15H.
Once you submit this declaration, it will ensure that no TDS is deducted from the interest earned on your deposits.
Bajaj Finance Limited offers you the facility of submitting this declaration online in a few easy steps. You can submit your Form 15G/ H by visiting My Account.
TDS stands for Tax Deducted at Source, a mechanism employed in many countries, including India, to collect tax at the origin of income. Under this system, a certain percentage of the payment is deducted by the payer and remitted to the government on behalf of the payee. This ensures a continuous inflow of revenue to the government and helps in reducing tax evasion. TDS is applicable on various types of income such as salaries, interest on bank deposits, and payments to contractors. The deducted amount is then reflected in the payee's annual tax return, and the total tax liability is adjusted accordingly. This method simplifies tax collection and ensures timely compliance, providing both the taxpayer and the tax authorities with a streamlined process for managing and tracking income tax obligations.
A TDS Certificate is an official document issued by the deductor to the deductee, confirming the amount of Tax Deducted at Source (TDS) and subsequently deposited with the government. It serves as proof that the tax has been deducted and credited to the government’s account on behalf of the payee. The certificate includes details such as the deductor’s and deductee’s names, PAN numbers, the amount paid, the amount of TDS deducted, and the TDS payment challan number.
For salaried employees, Form 16 is issued, while for non-salaried individuals, Form 16A is provided. These certificates are essential for the payee while filing income tax returns as they help in claiming the deducted amount against their tax liability. They ensure transparency and accuracy in tax records, facilitating easier verification and reconciliation of tax payments for both the taxpayer and the tax authorities.
Click on the ‘Apply for a TDS waiver’ option below to visit our customer portal. Once signed-in, you’ll be redirected to the ‘My Relations’ section, where you can select your FD.
You can then click on the ‘Submit Form 15G/ H’ option from the ‘Quick Actions’ section and proceed with your declaration.
