2 min read
25 May 2021

Plan your retirement with high-earning fixed deposits such as the Bajaj Finance Fixed Deposit, where your returns are guaranteed. In addition to the lucrative interest rates and flexible tenors, you can also get the benefits of the Bajaj Finance Fixed Deposit Calculator.

Why use the Bajaj Finance FD Calculator?

The Bajaj Finance FD Calculator is a great way to plan your retirement. Here’s how you can use this efficient tool for your retirement planning:

  • Calculate the exact returns that you will receive on your investment so that you can plan your retirement more efficiently
  • Check your earnings based on the interest rates of the various customer categories
  • View the monthly interest income that you can receive, if you choose a non-cumulative FD
  • Find out how the investment tenor impacts your interest payout

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

How much should one invest to meet the expenses of post-retirement life?

Once you have a budget set for your monthly expenses, the calculator allows you to understand the corpus you need to invest in getting a monthly amount to cover the costs.

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 8.60% for new customers, you can look for an interest amount of Rs. 10,21,198. If you reinvest the total maturity amount of Rs. 30,21,198 for another 5 years by renewing your FD, you can get a 0.10% higher interest rate with a total interest income of Rs. 15,63,671. Hence, an amount of Rs. 20,00,000 invested for about 10 years in a Bajaj Finance FD can mature to Rs. 45,84,869.

Thus, using a Bajaj Finance FD Calculator can quickly 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 need 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. Finally, update the 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 different tenors. 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 for 36 months, the maturity amount will come down to just Rs. 25,61,648. If you renew your deposits for another 36 months, the amount will grow to Rs. 32,90,092 at the end of maturity.

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:

  • Select your customer type, depending on whether you’re a new customer, existing customer, Bajaj Group employee or a senior citizen
  • Enter the tentative fixed deposit amount you plan to invest
  • Select the preferred tenor of your fixed deposit
  • You will see two different results for Cumulative Fixed Deposit and Non-Cumulative Fixed Deposit. If you choose the non-cumulative option, you can check the payout amount you could receive monthly, quarterly, half-yearly and annually.

The interest amounts for cumulative and non-cumulative fixed deposits will be different depending on which option you choose.

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

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