Bajaj Finance Fixed Deposit (FD) Interest Calculator

How Can Bajaj Finance Fixed Deposit Calculator Help?

The Bajaj Finance FD Calculator is a digital tool that automates the complex calculation of maturity value and total interest accrued for potential Fixed Deposit investments with Bajaj Finance. By simply inputting the principal, tenure (12 to 60 months), and choosing between cumulative or non-cumulative FD payouts, the tool instantly provides precise figures based on the NBFC's often superior interest rates. 

This quick, accurate projection allows both experienced and new investors to easily compare different scenarios, enabling informed financial planning and ensuring their FD choice perfectly aligns with their mid- to long-term wealth goals.

Complete your financial analysis using the SIP Calculator.

How Does the Bajaj Finance FD Calculator Work?

The Bajaj Finance FD Calculator is a free, online tool that instantly determines your future earnings.

It works by taking a few key inputs:

• Investment Amount: The principal you wish to deposit.
• Tenure: The duration, typically 12 to 60 months.
• Customer Type: To apply special FD rates for Senior Citizens (+0.25% p.a.) or online customers (+0.10% p.a.).

The calculator then uses these factors, with the fundamental features of the FD (like annual compounding for Cumulative FDs or the discounted rate for Non-Cumulative FDs), to instantly display the applied interest rate, the total interest accrued, and the final maturity amount.

Simple Interest vs. Compound Interest

The primary characteristic of any Fixed Deposit is that a sum of money is kept invested for specific tenure to receive interest yield on it at tenure-determined rates. The two systems of interest application in Fixed Deposit are the simple interest and the compound interest. Computing the interest quantum using the Bajaj FD Calculator is distinctly different in the two.

Simple Interest

It is a straightforward approach to interest calculation where the constant principal amount is reckoned. It essentially means that the accrued interest remains the same on every interest application, provided the interval is uniform. This system primarily comes into play only in the non-cumulative category. The formula to derive the interest is described below.

Interest = Principal x Tenure x Interest Rate / 100 or (PTR/100).

Compound Interest

Compared to simple interest, compound interest is far more complex. However, a simplified version in a layperson’s terms compound interest is derived when accrued interest is reckoned for interest application in the next cycle. It essentially means that the interest is applied to the principal’s sum and interest accrued previously. The Bajaj FD Calculator uses the following formula for computing the end result.

Final Maturity Amount = Principal (1 + Rate/ Number of times) ^ Number of times x Tenor { MS = P( 1 + R/N)^N x T}

How to Use PolicyBazaar Bajaj Finance Fixed Deposit Calculator?

Using the Bajaj FD Calculator has many advantages over the manual mode. It acts as the precursor to an online investment to support the envisaged paperless environment. It is also heartening to note that the investor is rewarded with a higher interest rate application. With such redeeming features, the Bajaj Finance FD Calculator turns out to be a versatile, user-friendly tool.  The facility is available at the company portal, and several aggregators like PolicyBazaar offer their calculator services.

The inputs are straightforward and essential so that the end result is accurate. In the company portal, the necessary information is the type of customer, including online purchaser and Senior Citizen, nature of Fixed Deposit – cumulative or non-cumulative, the applicable FD interest rate, proposed investment amount, and the deposit tenor. The following information is displayed instantly:

• Interest Rate

• Accrued Interest Amount

• Maturity Date

• Maturity Sum

The only difference with the PolicyBazaar Bajaj Finance FD Calculator is that the user has to choose the bank or the company where the proposed Fixed Deposit is destined.

Advantages of Using Bajaj Finance Fixed Deposit Calculator

The Bajaj Finance FD Calculator is a handy online tool explicitly designed to aid the investor in foreseeing the investment financials in the future in advance. The calculator offers enough scope to try different combinations to develop a suitable product matching individual needs. The inherent advantages of the Bajaj FD Calculator are:

• The multi-faceted online tool is readily available at the company’s official portal and several aggregators for use anytime, anywhere.

• It is user-friendly and simple to use, with only a few essential inputs to derive the desired results.

• It is fast and accurate, saving the user from indulging in tedious calculations which may not be error-free.

• The service is provided free from any charges, and there is no bar on the number of times it is used.

• The investor uses the end result information for multiple purposes, the primary among them being customizing the Fixed Deposit.

• The interest accrual amount is subject to tax liability under the extant laws covered by the Income Tax Act, 1961.

• The investor can chalk out a strategy to manage the financials more fruitfully.

FAQs