- Overview
- Fixed Deposit Calculator
- Eligibility Criteria
- Interest Rates and Charges
Bajaj Finance FD Calculator
A fixed deposit lets the investor earn interest over his/her invested money. This interest is calculated according to the prevailing FD interest rates. The interest on your invested money keeps compounding, thus building up your saving amount. Bajaj FD calculator will help you determine the amount before investment, and other important details like monthly payout, monthly interest and total interest value of your FD investment.
Info
Features of Bajaj Finance FD Calculator
As mentioned above, the Bajaj Finserv FD calculator helps in determining the exact amount at interest payout on maturity, the interest earned, the tenor of investment and the total maturity amount before your actual investment. It also helps in comparing different amounts for different tenors. This data will further help you choose the amount and tenor for your investment. Here is a detailed list of features of Bajaj Finance FD.
| Interest Rate | Ranges from 5.75% p.a. to 7.45% p.a. |
| Minimum Tenor | 1 Year |
| Maximum Tenor | 5 Years |
| Minimum Deposit Amount | The minimum amount is ₹15,000 |
| Application Process | An easy paperless online process |
| Online Payment options | UPI and Net Banking |
How to Use a Bajaj Finance FD Calculator?
By using the Bajaj Fixed Deposit Calculator, you can easily compute your returns and plan before starting with the investment. This will help you streamline your finances easily and also select the best suitable option of investment. You just need to follow these simple steps to use the fixed deposit interest rate calculator:
Select your customer type for e.g. a non-senior citizen (investing offline), non-senior citizen (investing online), or senior citizen
Select the type of fixed deposit that you want to invest in, i.e. cumulative or non-cumulative
On the Fixed Deposit calculator, enter the amount that you wish to invest.
Select the preferred investment tenor
The Fixed Deposit interest rate calculator will then display your interest income and the amount that you will be getting at maturity
You can then compare your investment by changing the amount, tenor, and the type of investor as per your needs. Your detailed breakdown will be simplified with a pie chart that shows the amount you have invested and the interest you will be earning on it. The breakdown of the total maturity amount and interest earned, among other details, are provided in a simple and user-friendly format.
How to Calculate FD Interest?
By using the FD calculator, you can calculate the returns on your fixed deposit investment. The return is determined by the applicable interest rate and the frequency of your interest payouts. This FD interest is compounded periodically and calculated by a formula. Here is a look at how FD interest is calculated.
FD interest formula to calculate FD returns is A = P (1 + r/n)^nt
where,
A = Maturity amount
P = Principal
r = Rate of interest
n = Number of times interest has compounded
t = Total tenor of the investment
For a clear understanding, let’s consider an example for FD interest calculation.
A senior citizen is investing ₹1 lakh in a fixed deposit for three years at an interest rate of 7.25%. It is compounded annually, therefore, n=1. Here is how the FD interest rate will be calculated in this case with the help of the FD interest formula.
A = 1,00,000 * {[ 1 + (0.0725/1)] ^ (1*3)}
A = 100000 * 1.23365
A = ₹1,23,365
Therefore, the final amount that the senior citizen receives after three years will be ₹1,23,365. Calculating this amount and the interest rate manually can be a tedious task. Hence, the FD maturity calculator or the FD return calculator simplifies the entire process.
What are the Interest Rates Offered on Bajaj Finance FD Against Different Tenors?
Bajaj Finance FD offers one of the best interest rates on your FD investment. The interest rate depends on the customer type and varies from 5.75% p.a. and goes as high as 7.45% p.a. With a minimum deposit amount of ₹15,000 and a flexible tenor ranging from 12 to 60 months, Bajaj Finance FD is one of the best investment options in India.
The Bajaj Finance FD rate calculator will determine the amount that you receive on the maturity and also the interest amount. You can compare the interest amount by changing the deposit amount, tenor, and also interest payout facility in the FD rate calculator.
Period |
Minimum deposit (in Rs.) |
Cumulative At Maturity (% p.a.) |
Non-Cumulative |
|||
|---|---|---|---|---|---|---|
Monthly (% p.a.) |
Quarterly (% p.a.) |
Half Yearly (% p.a.) |
Annual (% p.a.) |
|||
12 – 23 months |
15,000 |
5.75% |
5.60% |
5.63% |
5.67% |
5.75% |
24 – 35 months |
6.40% |
6.22% |
6.25% |
6.30% |
6.40% |
|
36 - 60 months |
7.00% |
6.79% |
6.82% |
6.88% |
7.00% |
|
Non-Senior Citizen FD Rates for Special Tenures
Period |
Minimum deposit (in Rs.) |
Cumulative At Maturity (% p.a.) |
Non-Cumulative |
|||
|---|---|---|---|---|---|---|
Monthly (% p.a.) |
Quarterly (% p.a.) |
Half Yearly (% p.a.) |
Annual (% p.a.) |
|||
15 months |
15,000 |
6.00% |
5.84% |
5.87% |
5.91% |
6.00% |
18 months |
6.10% |
5.94% |
5.97% |
6.01% |
6.10% |
|
22 months |
6.25% |
6.08% |
6.11% |
6.16% |
6.25% |
|
30 months |
6.50% |
6.31% |
6.35% |
6.40% |
6.50% |
|
33 months |
6.75% | 6.55% | 6.59% | 6.64% | 6.75% | |
44 months |
7.20% |
6.97% |
7.01% |
7.01% |
7.20% |
|
The annual rate of interest valid for deposits up to ₹5 crore (w.e.f. May 10, 2022)
Bajaj Finance offers an additional 0.25% interest rate for senior citizens.
Invest in Bajaj Finance FD on Finserv MARKETS
- Bajaj Finance FD has CRISIL's FAAA/Stable & ICRA's MAAA (Stable) ratings indicating the utmost safety of your capital
- With various benefits for senior citizens, a quick and hassle-free investment process and more than 2,35,000 happy customers, Bajaj Finance FD becomes the best investment option for you
- Be it short-term or long-term investment goals, Bajaj Finance FD has flexible payout and tenor options to cater to all your needs
With such attractive interest rates and facilities as well as the convenience of the FD calculator before investing, Bajaj Finance FD is undoubtedly one of the best investment options for you.
Frequently Asked Questions
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✔️Who can open a Fixed Deposit account with us?
You can start a Fixed Deposit with just Rs. 15,000. To apply, you must meet be a Resident Indian citizen.
-
✔️What is the tenure I can choose for FDs?
Your fixed deposit schemes could range between 1 year to 5 years. -
✔️How to withdraw or renew Fixed Deposits?
As popular investment options, FDs are always subject to renewal and withdrawal. After the completion of your tenor, you can either renew or withdraw your FD. You can renew your FD easily online. If you don’t plan to renew your FD, your maturity amount will be directly credited into your bank account. -
✔️Who should invest in Fixed Deposit?
If you are a Resident Indian citizen, you can invest in a FD. They are safe investment avenues that help you grow your savings, without risk to your principal amount. You must invest in Fixed Deposits if you’re looking for: (1) Diversifying your investments (2) Higher returns with stability Flexibility in terms of tenor and pay out (3) Most risk-averse investors invest in FDs for their stability and assured returns. Since your returns are unaffected by market forces, you can look for assured returns. -
✔️How to choose the best Fixed Deposit scheme?
Choosing the right FD scheme is very important to get the best returns out of your investment. You must consider the following factors:
Rate of interest ,
Credibility of FD provider,
Tenure,
Interest pay out frequency, and
Penalty rates.
You will get one of the highest interest rates and you can choose your tenure and interest pay out frequency.
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✔️What are the different types of Fixed Deposits?
They are of two types – Cumulative and Non-Cumulative. In case of Cumulative FDs, the interest is compounded every quarter or annually, and paid at the time of maturity. In a Non-Cumulative FD, interest is paid out periodically, as per the investor’s choice. The regular interest pay outs can help you meet your daily expenses. Though both FDs offer better returns than a savings account, cumulative FDs help you earn higher returns. -
✔️What is TDS on an FD?
A TDS refers to the Tax Deducted at Source and as per the Section 194A of the Income Tax Act of 1961, interest that is earned from investing in fixed deposits floated by NBFCs and banks is taxable in case it crosses Rs. 5,000/Rs. 10,000 depending on the type of financial institution. The interest income for a single depositor will be computed after taking all his/her fixed deposits into account. The TDS is calculated by the financial institution and is paid into the requisite Government account depending upon the frequency of interest pay outs to the investor. The TDS certificate is given to the investor on a quarterly basis. In case the investor furnishes Form 15G/15H during the application stage for a fixed deposit, he/she will not have to pay tax on interest income. This can be furnished when the investor’s total income is lower than the taxable limit. Form 15G/H is valid for one financial year. -
✔️How to choose best Fixed Deposit Plan?
You have two options before you, namely Cumulative Fixed Deposits or Non-Cumulative Fixed Deposits. In case of Cumulative Fixed Deposits, the interest you earn on the principal amount will be compounded annually. This means that you can grow your wealth steadily and get the entire interest income paid out at the time of maturity along with the principal amount. There are no periodic pay outs of interest income and this scheme can actually multiply your money in a bigger way if you are disciplined enough and do not need regular interest income pay outs. In case of the non-cumulative FD scheme, the interest you earn on your principal amount will be paid out at regular intervals. This can be on a monthly or quarterly basis or even on a semi-annually or yearly basis. Now this scheme is ideal if you need the interest income paid out at periodic intervals. It all depends on your own circumstances and the goals you have from your FD, i.e. earning regular interest income or simply growing wealth for a specific tenure without any regular income needs. Apart from choosing between these two types, you should also select the best fixed deposit plan based on other parameters which are the following:
Rates of interest - You should always go for the highest possible rates of interest.
Tenure - You should choose flexible tenure as per your convenience.
Terms & Conditions - You should always choose a fixed deposit plan where you have convenient interest pay outs and keep in mind extra rates for senior citizens among other aspects.
Other features - Go for financial institutions which offer you online access to your fixed deposit account along with easy application and payment procedures.
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✔️Will any special rates be applicable for specific category of applicants?
Yes, specific category of applicants will be eligible for special rates as mentioned below: • Senior Citizens (more than 60 years of age, subject to provision of proof of age) – Additional rate of 0.25% p.a. for deposit size up to ₹5 Crore • Bajaj Group Employees – Additional rate of 0.25% p.a. (BHIL, BAL, BFS, BFL, MSL, BAGIC, BALIC, MUKAND and BAJAJ ELECTRICALS) for deposit size up to ₹5 Crore • Only one of the above special category benefit is allowed per transaction • Rate of interest for bulk deposits of more than ₹5 Crore may vary from the published card rate and to be decided on a case to case basis. -
✔️What are the benefits of a Fixed Deposit available on Finserv MARKETS?
Now avail of the best in class fixed deposits (AAA rated NBFC) at attractive rates. Finserv Markets is one of the fastest growing NBFCs from one of the most trusted and respected business houses in India offers an all new FD program for Indian residents.
Minimum deposit size of Rs.15000.
Rated FAAA/Stable by CRISIL and MAAA/Stable by ICRA, which means highest safety of your money
Attractive and assured rates of interest for your money to grow periodically.
Choose a tenor of any number of months from 12 to 60 carrying different rates of interest to suit everyone’s needs.
Branch presence across over 600 locations in India.
Access to all loan account details on our Customer Portal – Experia.
Flexibility of payment option through electronic or physical modes.
Special rates for senior citizens, existing customers and group employees.
Our in-house products are available at attractive rates specially to the depositor.
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✔️Is the Bajaj FD calculator free?
Yes, the Bajaj FD calculator is absolutely free.
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✔️How much time does it take to use the FD Calculator?
You can calculate the interest on your Bajaj Finance FD within minutes and that too, in a few simple steps. All you need to do is choose the customer category that you fall into, enter the type of FD you want, choose your tenor, and specify your FD amount.
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