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Interest Rates and Charges

Fixed Deposit Calculator - Quickly Calculate Interest Rates on FD

Investment Amount

Interest Rate

Tenor

Months

Total Maturity Payout (Principal + Interest)

At Maturity
At Maturity
Monthly
Quaterly
Half Yearly
Yearly

Investment Amount

Interest Rate

Total Interest Amount

Total Payout (Principal + Interest)

Get Returns up to 9.40%* p.a.

Plan your fixed deposit investment with our FD calculator to estimate your returns. It could help you better evaluate your options and choose the best suited one.

 

On Bajaj Markets, you can invest in an FD from some of the leading issuers and enjoy interest gains of up to 9.40% p.a. With this tool, you can calculate interest on FDs and maximise your returns.

What is an FD Calculator?

An FD calculator is a formula-based online tool. It helps estimate the interest and maturity amount of your investment. A fixed deposit calculator can also determine the interest payout for non-cumulative FDs. 

FD Interest Rates to Calculate Maturity Amount

The interest rate helps estimate returns using a fixed deposit interest calculator. Given below are the interest rates of FDs available on Bajaj Markets:

Partner

Minimum Deposit Amount

Maximum Tenor (in months)

Highest Interest Rate for General Public (p.a.)

Highest Interest Rate for Senior Citizens (p.a.)

Bajaj Finance Ltd.

₹15,000

60 

8.60% 

8.85% 

YES Bank

₹10,000

120 

8.00% 

8.50% 

AU Small Finance Bank

₹1,000

120

8.00% 

8.50% 

Mahindra Finance Ltd

₹5,000

60

8.10%

8.35%

PNB Housing Finance Ltd

₹10,000

120

7.85%

8.05%

Ujjivan Small Finance Bank

₹1,000

120

8.50% 

9.00%

Shriram Finance

₹5,000

60

8.47%

8.97%

Disclaimer: The above-mentioned rates and details are subject to change at the issuer’s discretion.

How an FD Interest Calculator Can Help You

Here are some of the advantages of using an online FD calculator:

  • Facilitates Better Investment Planning

The calculator gives you an estimate of the maturity value. This includes the interest accumulated during the tenor. So, you can forecast returns with ease. 

 

Our calculator has no restrictions on how many times you can use it. If the initial investment terms show undesirable returns, try other combinations. This helps you better plan your investment from the lens of the:

  1. Issuer and rates

  2. Tenor

  3. Investment amount

  • Aids in Achieving Financial Goals

The tool gives an estimate of the maturity amount based on the principal amount. With it, you can understand whether you need to add or subtract from the investment amount. This will help you better plan your budget and attain goals efficiently. 

  • Helps Compare Options Easily

An  FD returns calculator helps you compare payouts from a range of FD schemes available. Comparing earnings is crucial. Even a small variation in rates may result in a large difference in returns when computed over time. With the potential returns in mind, you can choose a suitable FD

How to Calculate Interest on FDs

Banks and NBFCs calculate interest on FDs using two formulas: simple and compound. In the compound formula, the interest is compounded at a predetermined frequency. 

 

The formula depends on the issuers and the terms of your investment. Here is how to calculate FD interest with a formula: 

Simple Interest

Interest = P x R x T/100

Here, 

  • P is the principal amount
  • R is the rate of interest
  • T is the tenor

 

Say you invest ₹20,000 for 5 years at an interest of 6% per annum, the interest earned will be ₹6,000 as per this formula. 

Compound Interest

Interest = P {(1 + i/100n) ^nt – 1}

Here,

  • P is the deposit amount
  • I is the FD interest rate
  • T is the investment tenor
  • N is the number of times interest is compounded

 

In this case, let's use the same terms mentioned before. Here, assume you have chosen a quarterly compounding frequency. So, the compound interest will be ₹6,937.

 

Note: The figures mentioned above are just for illustrative purposes. The actual returns may vary depending on the issuer and investment terms.

 

Manual calculations carry the risk of errors. FD calculators are a great way to ensure accuracy. You can also use an FD calculator for monthly payouts if you choose a monthly frequency. If you opt for the at-maturity payout option, you can use the compound interest FD calculator, and so on.

How to Calculate the FD Maturity Amount

Calculating the maturity value of your deposit is easy and quick when you use an FD calculator. Most online calculators also give you an estimate of the maturity amount. This is along with the total interest and payout amount.

 

But there is a way to know the maturity amount if the non-cumulative or cumulative FD calculator does not. You can manually calculate the maturity value using the following formula: 

 

A = P * (1+ r/n) ^ n*t

 

Here,

  • A = maturity amount

  • P = principal amount

  • R = interest rate

  • N = compounding frequency

  • T = investment tenor

 

Here is an example: Say you book an FD of ₹3 Lakhs with a tenor of 3 years and an interest rate of 7% with quarterly compounding frequency. Using the formula, the maturity value will be approximately ₹3,69,431. 

 

If you have the interest amount available, add it to the principal investment amount to know the maturity value. 

Benefits of Using the Bajaj Markets FD Return Calculator

Here is why you should use the FD calculator available on Bajaj Markets:

  • User-friendly

You can slide the toggle to fill in the investment terms or enter it manually in the designated spaces

  • Quick Results

You get an estimate of the interest earned and the maturity once you enter the investment details

  • Error-free Estimates

This automated tool gives you accurate estimates. But the actual returns may vary depending on the issuer

  • Available Anytime for Free

This FD maturity calculator is available 24X7 for free, so you can use it whenever you want

  • Zero Restriction

There are no constraints on how many times you can use the calculator, so try as many combinations as needed

How to Use an FD Calculator Online

Using an FD interest calculator is easy. You just need basic details about your investment, which are as follows:

  • Principal Amount: The amount you want to invest

  • Tenor: The period for which you want to invest (in months or years)

  • Interest Rate: The rate at which the issuer will provide the returns

  • Interest Payout: Frequency at which you want to receive the interest

 

Once you have these details, follow these steps to use an online FD calculator:

  1. Enter the principal amount and tenor

  2. Choose the applicable interest rate

  3. Select your preferred interest frequency option

  4. Submit and check the estimates displayed on the screen

  5. Adjust the terms as needed to get the desired returns

Conclusion

FDs are not market-linked and offer returns at a fixed interest rate. This may make them a secure and reliable option compared to other investments. Using the FD calculator available on Bajaj Markets, you can explore different investment terms. 

Compare Fixed Deposit Interest Rates

Partner
sort list
Maximum Interest Rate
sort list
Maximum Tenor
sort list
Minimum Deposit Amount
sort list
Image

Bajaj Finance

8.85% p.a.

60 Months

₹15,000

Image

PNB Housing Finance

8.15% p.a.

120 Months

₹10,000

Image

Mahindra Finance Ltd

8.30% p.a.

60 Months

₹5,000

Image

AU Small Finance Bank

8.50% p.a.

120 Months

₹1,000

Image

YES Bank

8.00% p.a.

120 Months

₹10,000

Image

Ujjivan Small Finance Bank

8.75% p.a.

120 Months

₹1,000

Image

Shriram Finance

9.40% p.a

120 Months

₹5,000

View More

Frequently Asked Questions

Is there any charge to use an FD interest calculator?

No. The fixed deposit return calculator available on Bajaj Markets is free, and you can use it as many times as you want.

How much time does it take to use the fixed deposit calculator?

Fixed deposit interest calculators provide instant results. So, you can get an estimate as soon as you enter the basic investment details.

What is the use of a fixed deposit calculator in future financial planning?

These calculators give you an estimate of your maturity amount. With it, you can adjust your investment and budget your finances accordingly.

How does the FD interest calculator work?

The calculator uses the compound or simple interest formula. It gives an estimate based on the tenor, amount, interest rate, and payout frequency. 

What is the maturity amount in FD?

It is the total of the fixed deposit investment amount and the interest earned during the tenor.

What is the quarterly interest payout in FD?

It is the interest amount you receive every quarter, i.e., 3 months for the duration of your fixed deposit. 

Is the FD maturity amount calculated based on compound interest?

The fixed deposit interest calculation depends on the tenor. Generally, FD interest is compounded for deposits with longer tenor. For a shorter term, issuers use simple interest calculation.

How to calculate FD monthly payout?

You can use the monthly FD interest calculator or use the regular calculator and choose ‘monthly’ as the payout option. Alternatively, you can calculate the annual interest and divide it by 12. You can also divide the maturity amount by the number of months you are investing for.

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