Fixed Deposit Interest 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. Calculating all these details manually can be a tedious and time consuming process. With the FD return calculator, you can now estimate the interest gains and FD maturity amount without must hustle.

The FD calculator can assist you in determining how much interest you can receive by investing in a fixed deposit for a set period of time. The maturity amount is calculated using an online FD calculator, interest compounded annually.

An FD calculator enables you to compare the maturity amount and interest rates of FDs offered for varied investment amount.

What is a cumulative fixed deposit?

When you invest in a cumulative fixed deposit, your interest gets compounded and paid at maturity. You can analyse your returns using the online FD interest calculator.

What is a non-cumulative fixed deposit?

When you invest in a non-cumulative fixed deposit, you can periodically avail of your interest payouts. You can opt for these payouts monthly, quarterly, half-yearly, or annually. Compute your interest using the FD interest calculator to determine the payout amounts according to your investment.

Here’s a quick look at the features and benefits offered on fixed deposits by Bajaj Finance.

Interest rate

up to 7.75% p.a.

Minimum tenor

One year

Maximum tenor

Five years

Deposit amount

Minimum deposit of Rs. 15,000

Application process

Paperless online process

Online payment options

Netbanking and UPI

Interest rate

up to 7.75% p.a.

Minimum tenor

One year

Maximum tenor

Five years

Deposit amount

Minimum deposit of Rs. 15,000

Application process

Paperless online process

Online payment options

Netbanking and UPI

How to use the fixed deposit interest calculator?

Using the online FD maturity calculator is a simple process. Follow these steps:

  1. 1 Choose your customer type, i.e. Senior Citizen or Customer below the age of 60
  2. 2 Choose your investment amount and tenor
  3. 3 Select your payout mode. For cumulative deposit, choose ‘At Maturity’. For non-cumulative, choose whether you want monthly, quarterly, half-yearly or yearly payouts

Using the Bajaj Finance Fixed Deposit interest calculator is a great way to determine your returns before investing. It helps you plan your finances efficiently and maximise the returns on your investment.

The FD maturity amount calculator formula is:

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

The below table will help you understand this better.

  • Customers below the age of 60

Initial Deposit

FD rate

Tenor

Formula

Maturity Value

Rs. 3,00,000

7.40% p.a.

60 months

A = 300000*{[1+(0.0720/1)]^(1*5)}

Rs. 4,24,433

 

  • Senior citizen

Initial Deposit

FD rate

Tenor

Formula

Maturity Value

Rs. 3,00,000

7.65% p.a.

60 months

A = 300000*{[1+(0.0745/1)]^(1*5)}

Rs. 4,29,678


Manually calculating your fixed deposit interest can be taxing. You can instantly evaluate your returns using the Bajaj Finance Fixed Deposit interest calculator. With the FD interest calculator, all you need to do is enter your chosen tenor and investment amount. The amount receivable at maturity will be displayed automatically.

Disclamer

Actual returns may vary slightly if the FD tenor includes a leap year.

FD Calculator FAQ's

How to use an FD calculator online?

Using the FD interest rate calculator is a simple process. Here are the steps to use the FD Calculator.

  1. Choose your customer type, i.e. customers below the age of 60 (investing offline or online) or senior citizen
  2. Choose the type of fixed deposit you want, i.e. cumulative or non-cumulative
  3. Choose your fixed deposit amount
  4. Choose the preferred tenor of the fixed deposit
  5. The fixed deposit interest calculator will automatically display your interest payout and the total amount earned at maturity

Using the Bajaj Finance Fixed Deposit interest 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.

How to calculate the fixed deposit maturity amount?

You can use the FD calculator or term deposit calculator to determine the FD maturity amount. Go to the online FD interest calculator and select customer category – senior citizen or customer below 60. Next, you need to select the FD type – cumulative or non-cumulative. And finally, choose your preferred deposit amount and tenor. The interest and maturity amount will then be automatically displayed on the screen.

You can use the FD calculator to determine the maturity amount of your fixed deposit. Interest rates vary according to the type of FD you choose, i.e. cumulative/ non-cumulative and the tenor. This FD interest calculator helps you determine the maturity amount in less than a minute.

How is fixed deposit interest calculated?

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 44 months at an interest rate of 7.65% p.a., compounded annually (n=1). As per the formula provided, here's the calculation you need to make:

A = 100000*{[1+(0.0765/1)]^(1*3)}

A = 100000*1.2336

A = Rs. 1,23,360

Thus, your final amount is Rs. 1,23,360. 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.

What is a Bajaj Finance Fixed Deposit interest rate calculator?

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.

How does the Bajaj Finance Fixed Deposit interest calculator work?

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.

Can we get monthly interest on a fixed deposit?

Yes, you can get monthly interest payouts if you choose ‘monthly’ in the payout mode dropdown. When you invest your money in FDs, you gain interest on your principal amount. Using the FD Calculator online, Bajaj Finance Fixed Deposit enables you to choose your preferred tenor and the payout frequency to determine the gains you stand to make. 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 interest calculator, your monthly interest can be calculated efficiently.
However, your interest payout frequency may also impact the interest rate. The more frequently you withdraw your interest, the lesser interest you gain. You can keep checking the Bajaj Finance FD return calculator to know your returns before investing.

What interest rates will I get on Bajaj Finance Fixed Deposit for different tenors?

The table below shows the FD interest rates for different tenors and payout modes.

The annual rate of interest is valid for deposits from Rs. 15,000 up to Rs. 5 Crore
(w.e.f August 26, 2022)
Tenor in months 12 – 23 24 – 35 36 – 60
Cumulative 6.35% p.a. 6.95% p.a. 7.40% p.a.
Monthly 6.17% p.a. 6.74% p.a. 7.16% p.a.
Quarterly 6.20% p.a. 6.78% p.a. 7.20% p.a.
Half-yearly 6.25% p.a. 6.83% p.a. 7.27% p.a.
Annual 6.35% p.a. 6.95% p.a. 7.40% p.a.

FD special interest rate for Cumulative deposits:

Tenor in months

15 months

18 months

22 months

30 months

33 months

44 months

At Maturity

6.55% p.a.

6.65% p.a.

6.80% p.a.

7.05% p.a.

7.15% p.a.

7.50% p.a.

FD special interest rate for non-cumulative deposits:

Tenor in months

15 months

18 months

22 months

30 months

33 months

44 months

Monthly

6.36% p.a.

6.46% p.a.

6.60% p.a.

6.83% p.a.

6.93% p.a.

7.25% p.a.

Quarterly

6.40% p.a.

6.49% p.a.

6.63% p.a.

6.87% p.a.

6.97% p.a.

7.30% p.a.

Half Yearly

6.45% p.a.

6.54% p.a.

6.69% p.a.

6.93% p.a.

7.03% p.a.

7.36% p.a.

Annual

6.55% p.a.

6.65% p.a.

6.80% p.a.

7.05% p.a.

7.15% p.a.

7.50% p.a.

Senior citizen will get additional ROI benefit of up to 0.25% p.a. on deposit.

What is the difference between Bajaj Finance’s cumulative and non-cumulative payout options?

Bajaj Finance gives customers the option to choose between two payout options – cumulative and non-cumulative. The interest rate and the gains earned are impacted by which one of the two is selected.

Non-cumulative scheme

In Bajaj Finance’s non-cumulative fixed deposit scheme, the interest is payable monthly, quarterly, half-yearly, or yearly, depending on the customer’s preference. The system is convenient for individuals who require periodic interest payouts to meet routine expenses.

Cumulative scheme

In Bajaj Finance’s 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 individuals who do not require periodic interest payouts.

It is vital to determine your needs before choosing either of the two payout modes. Bajaj Finance FD calculator can help you plan your investments by forecasting your returns based on the deposit amount selected, tenor and payout frequency.

Why should I invest in a Bajaj Finance Fixed Deposit?

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% p.a. 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

Customers also get 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 efficiently calculate your earnings before you invest by using the Bajaj Finance Fixed Deposit Calculator.

What is the ‘maturity amount’ in FD?

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 calculator online, even before investing. Enter the desired investment amount preferred tenor, and your FD maturity amount is calculated quickly.

How is FD cumulative interest calculated?

The FD interest calculator can be of help to calculate your cumulative interest. 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 interest rate

t is the number of years

n is compounded interest frequency.

You can use the FD calculator online to determine your maturity amount.

E.g. If a customer below the age of 60 chooses to invest online, here is the interest they can earn for a given tenor.

Principal Amount

Interest Rate

Tenor

Maturity Amount

Cumulative Interest

Rs. 20,00,000

7.40% p.a.

5 years

Rs. 28,29,556

Rs. 8,29,556

Thus, the cumulative interest income is the sum of previous periods’ accumulated interest. In the above case, this amount is Rs. 8,29,556.

How is FD effective rate calculated?

The effective interest rate on your deposit influences your fixed deposit’s interest income and yield. The effective annual interest rate is calculated as per the following formula:

FD calculation formula

Effective rate = (1 + nominal rate/n) n – 1.

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.

Read More Read Less