Fixed Deposit Calculator
When investing in a fixed deposit, the amount you deposit earns interest as per the prevailing FD interest rate. This interest keeps compounding over time and helps you grow your savings. Investors looking to estimate their FD maturity amount, interest earned, and payout amount can use the Bajaj Finance Fixed Deposit Calculator to plan their investment.
What is a cumulative fixed deposit?
When you invest in a cumulative fixed deposit, your interest is compounded annually but paid at maturity.
What is a non-cumulative fixed deposit?
When you invest in a non-cumulative fixed deposit, you can avail of your interest payouts periodically. You can opt for payouts monthly, quarterly, half-yearly, or annually.
Disclaimer
Returns in the above calculator may vary, depending on the rates prevailing on the day of actual debit.
How to use the Fixed Deposit Calculator
Using the online FD maturity calculator is a simple process.
Follow these steps:
- Choose your customer type, i.e., non-senior citizen (investing offline), non-senior citizen (investing online), or senior citizen
- Choose the type of fixed deposit that you want, i.e., cumulative or non-cumulative
- Choose your fixed deposit amount
- Choose the preferred tenor of the fixed deposit
- Interest amount and the total amount earned at maturity will automatically be displayed on the screen
Using the Bajaj Finance Fixed Deposit return calculator can be a great way to determine your returns before investing. This can help you streamline your finances efficiently and maximize the returns on your investment.
Fixed deposit calculation formula
A = P(1+r/n)^n*t
Where
- A is maturity amount
- P is the principal amount
- r is the rate of interest
- t is number of years
- n is compounded interest frequency
To understand this better, let’s consider an example. Suppose a senior citizen is investing Rs. 1 lakh in a fixed deposit for a tenor of 3 years at an interest rate of 7.05%, which is compounded annually (n=1). As per the formula provided, here’s the calculation you need to make:
A = 100000*{[1+(0.0705/1)]^(1*3)}
- A = 100000*1.22676
- A = 1,22,676
Thus, your final amount is Rs. 1,22,676. While calculating this manually can be taxing, you can instantly evaluate your returns using the Bajaj Finance Fixed Deposit Calculator. Here, all you need to do is enter your investment amount and tenor, which helps you calculate the amount receivable on maturity.
Frequently asked questions
Using the online FD maturity calculator is a simple process. Here are the steps to use the FD Calculator.
- Choose your customer type, i.e. customers below the age of 60 (investing offline or online) or senior citizen
- Choose the type of fixed deposit you want, i.e. cumulative or non-cumulative
- Choose your fixed deposit amount
- Choose the preferred tenor of the fixed deposit
Interest amount and the total amount earned at maturity will automatically be displayed on the screen.
Using the Bajaj Finance Fixed Deposit return calculator can be a great way to determine your returns before investing. This can help you streamline your finances efficiently and maximize the returns on your investment.
You can use the fixed deposit calculator or term deposit calculator to determine the FD maturity amount. Simply go to the FD Calculator and choose the type of customer you are, your FD type, i.e. cumulative or non-cumulative and the amount of your principal and the tenor. Interest amount and the total amount earned at maturity will automatically be displayed on the screen.
You can use the Bajaj Finance FD amount calculator to determine the maturity amount on your fixed deposit. Interest rates vary according to the type of FD you choose, i.e. cumulative/non-cumulative and the tenor and principal amount. This calculator helps you determine the maturity amount in only a couple of minutes.
The returns on your fixed deposit investment are determined by your interest rates and frequency of interest payouts. These interest rates are compounded periodically, and the formula supporting the FD interest rates calculator is listed below.
Here's the FD calculation formula:
A=P(1+r/n)^n*t
Where;
A is maturity amount
P is the principal amount
r is the rate of interest
t is the number of years
n is compounded interest frequency
To understand this better, let's consider an example. Suppose a senior citizen is investing Rs. 1 lakh in a fixed deposit for a tenor of 3 years at an interest rate of 7.05%, compounded annually (n=1). As per the formula provided, here's the calculation you need to make:
A = 100000*{[1+(0.0705/1)]^(1*3)}
A = 100000*1.22676
A = 1,22,676
Thus, your final amount is Rs. 1,22,676. While calculating this manually can be taxing, you can always evaluate your returns using the Bajaj Finance Fixed Deposit Calculator. Here, all you need to do is enter your investment amount and tenor, which helps you calculate the amount receivable on maturity.
Bajaj Finance Fixed Deposit interest calculator helps you determine the amount you will receive on the maturity of the deposit along with interest. It also enables you to calculate and compare the interest receivable by changing the deposit amount, tenor and interest payout frequency.
The FD interest rates calculator by Bajaj Finance is elementary to use. You can input the fixed deposit amount and tenor to calculate the amount receivable on maturity. It also helps you to calculate both cumulative and non-cumulative payouts.
Yes, you can get monthly interest payouts if you choose periodic payouts and select monthly frequency. When you invest your money in FDs, you gain interest on your principal amount, obtained periodically. Bajaj Finance Fixed Deposit enables you to choose the frequency of your tenor, and you can see the returns you can make by using the FD Calculator. If you're looking for a monthly income from your investment, you can choose to get your interest payouts every month. With the help of a fixed deposit calculator, your monthly interest can be computed easily.
However, your interest payout frequency will change according to the interest rate. The more frequently you withdraw your interest, the lesser interest you gain. You can keep checking the Bajaj Finance FD Calculator to compute your returns beforehand so that you can plan your finances in advance.
For new customers:
Annual rate of interest valid for deposits from Rs. 25,000 up to Rs. 5 crore (w.e.f. w.e.f. Dec 01, 2021) |
|||
Tenor in months |
12 – 23 |
24 – 35 |
36 - 60 |
Cumulative |
5.65% |
6.40% |
6.80% |
Monthly |
5.51% |
6.22% |
6.60% |
Quarterly |
5.53% |
6.25% |
6.63% |
Half-yearly |
5.57% |
6.30% |
6.69% |
Annual |
5.65% |
6.40% |
6.80% |
Senior citizens (subject to provision of age proof) get an additional rate benefit of up to 0.25%.
When using the Bajaj Finance Fixed Deposit Calculator, you may have seen the cumulative and non-cumulative payout options, which determine your interest rates and maturity values. Read on to know more about these schemes:
Non-cumulative scheme
In Bajaj Finance ‘non-cumulative’ fixed deposit scheme, the interest is payable monthly, quarterly, half-yearly, and yearly. The scheme will be convenient for an individual who requires a periodic interest payout.
Cumulative scheme
In Bajaj Finance 'cumulative' fixed deposit scheme, the interest is payable at the time of maturity along with the principal and is compounded annually. This scheme is suitable for an individual who does not require periodic interest payouts.
It is important to determine your own needs before choosing a plan. Bajaj Finance FD Calculator can help you plan your investments by forecasting your returns based on the deposit amount selected, tenor and payout frequency.
Bajaj Finance Fixed Deposit comes with an FAAA rating by CRISIL and MAAA rating by ICRA, offering the highest security for your investment. Moreover, there are flexible tenors to choose from, to suit individual needs.
Here are some of the other benefits of our fixed deposit:
- An additional 0.25% rate of interest for senior citizens
- Flexible tenors between 12 and 60 months, with options to choose periodic interest payouts
- Easy online investment process for existing customers, and doorstep document collection facilities
- Loan against fixed deposit up to 75% of your FD amount
Access to digitally-enabled FD branches that help simplify your investment journey with a suite of features, such as FD with a debit card, multi-deposit, and auto-renewal facilities.
In addition to these features and benefits, you can easily compute your earnings before you invest by using the Bajaj Finance Fixed Deposit Calculator, which provides you with the exact returns easily.
The maturity amount of your fixed deposit is a sum of your principal amount invested, along with pre-decided returns earned over the chosen tenor. You can easily calculate the FD maturity amount with an FD maturity calculator, even before you invest. Simply enter the desired investment amount, preferred tenor and your FD maturity amount is calculated easily.
When investing in an FD, the interest is compounded annually as per the applicable interest rate. The earned interest amount is added to the initial principal for cumulative interest income, increasing the principal amount, using which the interest income for the remaining tenor is calculated. The FD formula for compounding of cumulative interest is
A=P(1+r/n)^n*t
where,
A is the maturity amount, P is the principal amount, r is the rate of interest, t is the number of years, and n is compounded interest frequency. You can use the FD rate calculator to determine your maturity amount.
E.g. If a customer below the age of 60 years chooses to invest online by depositing an amount of Rs. 20 lakh, with the rate of interest Citizens aged below 60 investing online, and tenor of 5 years, then he/she will earn Rs. 27,53,062 as the maturity amount. Thus, the cumulative interest income is a sum of the original principal amount and the accumulated interest of previous periods.
The effective interest rate on your deposit influences the interest income and yield of your fixed deposit. The effective annual interest rate is calculated as per the following formula:
FD calculation formula
Effective rate = (1 + nominal rate/n) n – 1. Here, n is the number of periods per year.
E.g. If compounded annually, the interest rate will be 10%, whereas compounded quarterly, the actual interest rate for calculation will be 14.48%.
You can easily calculate the interest amount using the FD calculator online.