Bajaj Finance Ltd, a deposit accepting Non-Banking Financial Institution ('NBFC') and a lending arm of Bajaj Finserv group, has launched five digitally-enabled Fixed Deposit service branches in Camp, Nalstop, Fatima Nagar, Pimpri and Aundh area of Pune. The Company plans to open 40-50 branches across the country over the next 12-24 months.
These branches are equipped with digital counters, Alexa Kiosks and Wi-fi enabled tabs which will enable the customer to transact, invest and get more details on the Fixed Deposits with Bajaj Finance Ltd.
Speaking on the occasion, Mr. Sachin Sikka, Business Head- Retail & Corporate Liabilities of Bajaj Finance Limited said: "Deposits contribute to 15% of the Company's borrowings and it is important that we service the retail depositors through the digital platform as well, apart from the existing multiple mediums. For a commoditised and tradition asset class like Fixed Deposits, one cannot underestimate the micro market strategy and the key is to provide quicker and convenient access to retail depositors.
We are quite positive that these digital-enabled branches will be to the delight of our esteemed customers seeking instant information on deposit and insurance products, making the process faster and seamless".
Bajaj Finance Ltd. Fixed Deposit offers a lucrative interest rate of 8.75%, which can go up to 9.10% for Senior citizens, with a reliable interest flow and has the highest ratings on safety and stability with ICRA's MAAA (stable) rating and CRISIL's FAAA/Stable rating. Customer can start by depositing an amount as low as Rs. 25000/- with a flexible tenor option of 12 to 60 months.
Shares of Bajaj Finance Limited was last trading in BSE at Rs.3013.8 as compared to the previous close of Rs. 3031.4. The total number of shares traded during the day was 30665 in over 2083 trades.
The stock hit an intraday high of Rs. 3059.95 and intraday low of 2995.5. The net turnover during the day was Rs. 92525936.