Steps to Use the Online Fixed Deposit Interest Rate Calculator

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A Fixed Deposit Interest Calculator helps you calculate the maturity amount of your deposit based on the prevailing interest rate for a particular term. The calculator is easy to use and will help you compare different tenures with different interest rates. This will make it easier for you to decide which amount and term gives you the highest maturity amount for your fixed deposit.

Fixed Deposit Calculator

When you invest in a fixed deposit, the amount you deposit earns interest at the prevailing FD interest rate. This interest continues to accumulate over time and helps you grow your savings. Investors looking to estimate their FD maturity amount, interest earned, and payout amount can use the Bajaj Finance Fixed Deposit Calculator to plan your investment.

What is a cumulative fixed deposit?

When you invest in a cumulative fixed deposit, your interest is compounded annually but paid at maturity. You can analyze your returns using the FD online interest rate calculator.

What is a non-cumulative fixed deposit?

When you invest in a non-cumulative fixed deposit, you can periodically benefit from your interest payments. You can opt for monthly, quarterly, semi-annual or annual payments. If you aim to receive regular payments, you can opt for a non-cumulative FD. You can calculate your monthly interest using the online FD calculator.

How to use the Bajaj Finance Fixed Deposit Calculator?

Using the online FD Interest Rate Calculator is a simple process.

Follow these steps:

  1. Choose your customer type, i.e. Customer under 60 or senior
  2. Choose the type of payment you want, i.e. cumulative or non-cumulative
  3. Choose your fixed deposit amount
  4. Choose the preferred fixed deposit term
  5. Fixed Deposit Interest Calculator will automatically display your interest payment and total amount earned at maturity

Using Bajaj Finance’s Fixed Deposit Yield Calculator can be a great way to determine your returns before you invest. It can help you effectively streamline your finances and maximize the return on your investment.

The formula for calculating the fixed deposit

A = P(1+r/n)^n*t

Or

A is the amount at maturity

P is the principal amount

r is the interest rate

t is the number of years

n is the frequency of compound interest

To better understand this, let’s take an example. Suppose an elderly person invests Rs. 1 lakh in fixed deposit for a term of 3 years at an interest rate of 7.05% per annum, compounded annually (n=1). According to the formula provided, here is the calculation you must perform:

A = 100000*{[1+(0.0705/1)]^(1*3)}

A = 100000*1.22676

A = 1,22,676

So, your final amount is Rs. 1,22,676. Although manually calculating interest can be taxing, you can instantly gauge your returns using the Bajaj Finance Fixed Deposit Calculator. With the FD Interest Rate Calculator, all you need to do is enter the term and investment amount you have chosen. The amount to be received at maturity will be displayed automatically.

You lock your investment for a fixed period when you invest in a fixed deposit. Using Bajaj Finance’s Fixed Deposit Calculator, you can easily find the amount at maturity and the interest earned when investing in a Fixed Deposit.

FD calculators are a great financial planning aid to help you make decisions about how much capital investment will yield a particular amount at maturity. It is very useful to know how to fulfill a financial obligation and when the money will be available. You can use this calculator to know when to invest and plan your spending accordingly.

With a simple and user-friendly interface, you can plan the amount of money you should invest to get stable returns. This can help you gauge your performance against the chosen duration.

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