How To Use Bajaj Finance Fixed Deposit Calculator For Retirement Planning?

In addition to helping individuals with the above-mentioned benefits, Bajaj Finance Fixed Deposit Calculator also helps in resolving a couple of retirement-related questions or dilemmas that you may have. Read along to find the answers to these questions, if you’re looking to retire soon.

How much do you need to invest to meet the expenses of post-retirement life?

Once you have budget set for your monthly expenses, the calculator allows you to understand the corpus you need to invest to get a monthly amount that will cover the expenses.

For example, if you invest Rs. 20,00,000 in a Bajaj Finance Fixed Deposit for 5 years, and reap the benefit of an interest rate of 6.50% for new customers, you can look for an interest amount of Rs. 8,38,027.

Thus, by using a Bajaj Finance FD Calculator, you can easily determine the amount you need to invest. The interest rates vary for every customer category, frequency of interest payouts and the tenor you select.

How much will your monthly interest payout be if you invest in a non-cumulative FD?

This calculator also enables you to see how much you will receive monthly. All you must do is choose ‘non-cumulative’ as the type of deposit and choose an interest payment frequency from options such as monthly, quarterly, half yearly and annually. Then, enter your corpus amount and the page will be updated with the relevant information.

Additional Read: Should you choose Bajaj Finance Cumulative or Non-Cumulative Fixed Deposits?

How will your earnings change as per tenor?

The calculator also helps you see how interest payouts change with changes in the tenor. If you make slight changes to the tenor, while keeping other factors constant, you will see how your maturity amount increases or decreases.

Continuing with the previous example of investing Rs. 20,00,000 in a Bajaj Finance Fixed Deposit, the maturity amount will come down to just Rs. 24,67,300 in case you invest for just 36 months.

Additional Read: 5 Best Recommended Investment Schemes For Senior Citizens

How to use a Bajaj Finance Fixed Deposit Calculator?

If you’re looking to start investing in a fixed deposit, and want to determine the investment amount, tenor, and frequency of payouts, the Bajaj Finance Fixed Deposit Calculator can be very helpful. To get started with the FD Calculator, here’s what you need to do:

The interest amount for cumulative and non-cumulative fixed deposit will be different. Depending on your convenience, you can choose the best option. The Bajaj Finance FD Calculator can hence, be a great way to determine your returns even before you start investing.

Invest in a Bajaj Finance Fixed Deposit, and you can streamline your finances with an FD Calculator, plan your retirement smartly.

DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.