Mahindra Finance FD Calculator

Mahindra Finance is one of India’s leading NBFCs providing fixed deposits with attractive interest rates of up to 8.05% p.a.. As a senior citizen investor, you also enjoy a 0.25% interest rate hike over the prevailing Mahindra Finance Fixed Deposit rates. 

 

As safe investment avenues, fixed deposits are one of the most popular options. Not only do fixed deposits offer capital protection, but also assured and attractive returns. By investing in a fixed deposit, you can access both security and stability. 

 

This is because Mahindra Finance Fixed Deposit has been rated AAA by CRISIL and India Ratings. Thanks to the hassle-free process and minimal documentation, booking an FD online is very easy.

 

Apart from enjoying attractive interest rates, you can assess your interest earnings with the Mahindra Finance Fixed Deposit calculator. 

 

Enter your investment amount and tenor on the Mahindra Finance FD Calculator to determine your approximate returns instantly. The Mahindra Finance fixed deposit calculator thus makes investing simple and effective. 

Using the Mahindra Finance FD calculator helps you assess your returns across tenors and at varying interest rates with ease. By comparing your earnings this way, you can make smarter decisions about your FD investment. 

 

See the table below to understand the yield of an FD investment of ₹2 Lakhs for various tenors at applicable Mahindra Finance FD rates for non-senior citizens.

Now consider the same example of ₹2 Lakhs assuming that you are a senior citizen investor. Keep in mind that senior citizens get 0.25% higher than the regular rates. 

From the calculations above, it is clear that you can easily compare your returns across tenors with the help of the Mahindra Finance fixed deposit calculator. 

The Mahindra Finance fixed deposit calculator is easy to use to compute the returns on your FD investment. Follow these steps to get started. 

• Step 1: Enter your preferred deposit amount 

• Step 2: Enter the relevant interest rate

• Step 3: Choose an FD tenor as per your requirements

   

Once you enter all the respective fields, the maturity amount and the interest payouts are instantly and accurately displayed on your screen. You can tweak the deposit amount, interest rate and tenor to reach the right combination that best suits your needs.

 

You can also calculate your maturity amount manually using the simple and compound interest formula as follows. 

Simple Interest

Simple interest is a way of calculating FD interest based on the principal sum. It can be computed daily, monthly, or annually.

 

SI= PA*r*T

Where,

PA= Principal amount

r = rate of interest

T= period

 

For example, consider an FD investment of ₹10,000 for 3 years at an interest rate of 10% p.a. The calculation is as follows:

SI= PA*r*T

SI=10,000*10*3/100

SI=3,000

 

Amount due upon maturity of the three-year deposit: ₹13,000

Compound Interest

Compound interest is a technique whereby the interest amount is added cumulatively to the principal sum and the interest accrued from earlier periods. 

 

CI (Final Amount) = PA (1+ r/100) nt

Where,

PA = Primary principal balance

r = the interest rate

n = the unit of interest cycles that are counted

t = time intervals

 

Like before, consider an FD investment of ₹10,000 for a tenor of 3 years that compounds quarterly with the 10% rate of interest. You can calculate in the following way: 

CI (Final Amount) = PA (1+ r/100) ^3

PA= 10,000 {1 + (0.1)} ^ (3)}

PA= 10,000 (1+0.1) ^ (3)

10,000 (1.1) ^ (3) = ₹13,310 (approximately)

 

We know that,

 

Compound Interest (CI) = Maturity sum amount- Principal sum amount

CI = ₹13,310 - ₹10,000

CI = ₹3,310

 

Amount due upon maturity of the three-year deposit: ₹13,310

 

As you can see, calculating your interest payout and maturity amount manually requires you to be precise. One wrong step and your analysis can go wrong, which could adversely affect your investment decision.

 

To avoid mistakes, calculate the return on your FD and your maturity amount using the Mahindra Finance FD Calculator. Access it with ease, as many times as you want, on Bajaj Markets. 

Utilise the Mahindra Finance fixed deposit calculator to understand how your savings will grow. Here is a table that estimates how your Mahindra Finance FD will grow over a set timeline. 

 

Here, the interest rate of Mahindra Finance FD is assumed as 7.40% p.a. for non-senior citizens and 7.65% p.a. for senior citizens. The investment amount is chosen as ₹1 Lakh over 5 years.