New Delhi, Oct. 7 -- Bajaj Finance Ltd., one of India's largest non-banking financial companies (NBFCs), has increased interest rates on its fixed deposits (FDs) by 15 to 40 basis points across tenures ranging from 12 to 60 months.

The revised FD rates take effect on Wednesday and will apply to both new deposits and renewals. The NBFC has offered the biggest rate increase on longer-term deposits, with rates for 31 to 60 months rising by 35 basis points for regular depositors and 40 basis points for senior citizens.

Sachin Sikka, Senior Executive Vice President (Deposits & Wealth Management) at Bajaj Finance, said: "Fixed Deposits continue to be an important part of a balanced savings portfolio, particularly for senior citizens looking f...