When it comes to retirement planning, accuracy is everything. If your investments don’t perform according to your expectations, you will have the mammoth task of rebalancing your portfolio. However, when it comes to high-earning fixed deposits such as the Bajaj Finance Fixed Deposit, your returns are guaranteed, so you can plan your retirement with ease.
What’s more, with the Bajaj Finance FD Calculator by your side, you can plan your finances in advance, accurately. Here’s how this online tool can help you retire rich:
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 have costs of Rs.50,000 per month and you want to create wealth for a retirement period of over 10 years, you willhave to invest a corpus of at leastRs.79 lakh, for a tenor of 12 months.On maturity, this amount will growtoRs.85,00,400 and help you meet your monthly expenses.
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 on a monthly basis. All you have to 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 based on the 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 earlier example, with all other figures being the same, and the tenor changing to 36 months, the maturity amount will increase to Rs.97,60,450.
Additional Read : 5 Best Recommended Investment Schemes For Senior Citizens
Check out some helpful tips on using the Bajaj Finance FD Calculator:
By giving you an overview of how your investment corpus will perform under different circumstances, the Bajaj Finance FD calculator helps you plan your retirement smartly.
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