New Delhi, May 10 (PTI) Bajaj Finance, the lending arm of Bajaj Finserv, on Wednesday increased its fixed deposit (FD) rates by up to 40 basis points.

Following the hike, 44 months special tenure for senior citizens will invite an interest rate of 8.60 per cent per annum.

Also Read | The Kerala Story: Is Adah Sharma’s Film Inspired by ‘Caliphate’? All You Need to Know About Netflix Swedish Series That is Going Viral With This Claim.

The new rates are revised higher by 40 basis points on deposits with maturities ranging from 36 months to 60 months, it said.

Depositors below 60 years can earn up to 8.05 per cent per annum, while senior citizens can earn up to 8.30 per cent per annum, it said.

Also Read | Cyclone Mocha Latest Update: Depression Over Southeast Bay of Bengal Likely To Intensify Into Cyclonic Storm, Says IMD.

The revised rates on Bajaj Finance FDs shall be applicable on fresh deposits and renewals of maturing deposits of up to Rs 5 crore, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)