Calculate Your FD Maturity Amount Online
Today, we have a plethora of high-yielding investment options. Yet, fixed deposits have a stronghold in the market. And why not? It offers flexible tenor and guaranteed returns. The rate of interest is determined at the time of opening an FD. Moreover, market fluctuations have zero impact on it. You can withdraw the final amount in the fixed deposit amount at maturity.
To calculate your FD maturity amount online, you can make use of an FD calculator. This article illustrates how you can calculate your FD maturity amount.
What is the Maturity Amount?
The maturity amount in a fixed deposit is the sum of your invested principal amount along with interest income at a pre-decided interest rate and chosen tenor.
What is the Maturity Value?
Maturity value is the due amount that is payable to the holder of a financial policy as of the date of maturity. In the case of FD, the maturity value is the sum of principal invested and interest income.
How to Calculate FD Maturity Amount Using FD Calculator?
You can calculate the FD maturity amount using the fixed deposit calculator. Follow these steps to determine the wealth you would gain at the time of maturity.
Enter the deposit amount
Enter the tenor
Select the customer type, i.e. whether you’re a senior citizen, non-senior citizen, or an online customer
Choose the FD scheme, i.e. cumulative or non-cumulative
Once you have filled in the aforementioned details, the calculator will provide the FD interest rate and maturity amount offered for the specified information.
Formula to Calculate FD Maturity Amount
There are two formulas to calculate FD maturity amount—simple interest FD and compound interest FD.
Simple Interest FD |
Compound Interest FD |
Here’s the formula to calculate simple interest FD:
M = P + (P x r x t/100)
where,
So, if you deposit ₹1,00,000 at a 6.80% interest rate for 5 years, your maturity value will be:
1,00,000 + (1,00,000 x 6.80x 5/100) = ₹1,34,000 |
Here’s the formula to calculate compound interest FD:
M = P ((1 + r/n) ^ (n x t)
where,
Let’s take the same variables as before to understand the above formula. However, the interest is compounded quarterly.
1,00,000 (1 + 6.80/4) ^ (4 x 5) = ₹1,40,094
|
Benefits of Online FD Calculator
There are multiple advantages of using an FD maturity amount calculator online. They are as follows.
It shows the maturity amount you’re most likely to receive
You can use this calculator a zillion times and gauge which FD scheme is ideal for you
You can avoid time-consuming and error-prone manual calculations
The tool is free of cost
Bajaj Finance FD Interest Rates
Bajaj Finance FD is one of the most lucrative and flexible investment options in India. Let us explore the non-cumulative FD interest rates offered by Bajaj Markets.
Code for Non-Senior Citizen Interest Rate Tables Note: Both the tables for default and for the special rates are included in this code Invest in Bajaj Finance FD and earn interest upto 7.95% p.a | Stable Rating - CRISIL’s FAAA and ICRA’s MAAA
Fixed Deposit Annualized rate of interest Valid for deposits up to ₹5 Crores (w. e. f. 22nd November, 2022)
Non-Senior Citizen FD Rates
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 |
6.80% |
6.60% |
6.63% |
6.69% |
6.80% |
24 – 35 months |
7.25% |
7.02% |
7.06% |
7.12% |
7.25% |
|
36 - 60 months |
7.50% |
7.25% |
7.30% |
7.36% |
7.50% |
|
Special Tenure FD Rates for Non-Senior Citizens
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 |
6.95% |
6.74% |
6.78% |
6.83% |
6.95% |
18 months |
7.00% |
6.79% |
6.82% |
6.88% |
7.00% |
|
22 months |
7.10% |
6.88% |
6.92% |
6.98% |
7.10%% |
|
30 months |
7.30% |
7.07% |
7.11% |
7.17% |
7.30%% |
|
33 months |
7.30% | 7.07% | 7.11% | 7.17% | 7.30%% | |
44 months |
7.70% |
7.44% |
7.49% |
7.56% |
7.70% |
|
Fixed Deposit Annualized rate of interest for senior citizens Valid for deposits up to ₹5 Crores (w. e. f. 22nd November, 2022)
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 |
7.05% |
6.83% |
6.87% |
6.93% |
7.05% |
24 – 35 months |
7.50% |
7.25% |
7.30% |
7.36% |
7.50% |
|
36 - 60 months |
7.75% |
7.49% |
7.53% |
7.61% |
7.75% |
|
Special Tenure FD Rates for Senior Citizens
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 |
7.20% |
6.97% |
7.01% |
7.08% |
7.20% |
18 months |
7.25% |
7.02% |
7.06% |
7.12% |
7.25% |
|
22 months |
7.35% |
7.11% |
7.16% |
7.22% |
7.35% |
|
30 months |
7.55% |
7.30% |
7.35% |
7.41% |
7.55% |
|
33 months |
7.55% | 7.30% | 7.35% | 7.41% | 7.55% | |
44 months |
7.95% |
7.67% |
7.72% |
7.80% |
7.95% |
|
Start investing in Bajaj Finance FD and let your money grow. Get in touch with us for personal assistance.
- What is an FD?
- How do FDs work?
- How to calculate FD Interest?
- Loan against FD
- Why choose a Bajaj Finance FD?
- Pros and Cons of Investing in an FD
- Monthly Interest on an FD
- Monthly Interest on ₹1 Lakh Fixed Deposit
- Monthly Interest on ₹10 Lakh Fixed Deposit
- Monthly Interest on ₹20 Lakh Fixed Deposit
- Monthly Interest on ₹5 Lakh Fixed Deposit
- Monthly Interest on ₹15 Lakh Fixed Deposit
- Monthly Interest on ₹30 Lakh Fixed Deposit
FAQs
-
✔️Is 5-year FD tax-free?
You can claim income tax deductions under Section 80C by investing in a 5-year FD scheme.
-
✔️Can I break my 5-years FD?
No. Your deposit is locked in for 5 years. However, some banks and NBFCs allow you to break your FD with a penalty fee.
-
✔️What is tax-saving FD for 5 years?
Investing in a 5-year FD scheme enables you to claim tax deductions under Section 80C of the Income Tax Act, 1961. Hence, it is called a tax-saving FD.
-
✔️How to calculate FD?
You can use an online FD maturity amount calculator to calculate your FD maturity amount. In case you want to do it manually, here are the two formulas:
For simple interest FD:
M = P + (P x r x t/100)
P stands for the principal amount (the deposit money)
r stands for the rate of interest per annum
t stands for tenor in years
For compound interest FD:
M = P ((1 + r/n) ^ (n x t)
P is the principal amount
r is the rate of interest per period
t is the tenor
n is the number of compounding per year
-
✔️What is the minimum amount to invest in a fixed deposit?
At Bajaj Markets, you can start your investment journey with an amount as minimum as ₹25,000.
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