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Fixed Deposit Calculator 2021 – Calculate Maturity Amount on FD

A fixed deposit is an instrument that offers stability to your invested capital and allows it to grow at a decent rate to generate sufficient returns at maturity. Since the FD interest rates and tenor are fixed, the returns can be calculated in advance. Therefore, you don’t need to keep guessing the value of your deposits. A fixed deposit interest calculator is provided to simplify the complex task of interest calculation. The steps that you need to follow while using an FD calculator are specified below:

Step 1: Select your customer category 

It is important to select the right customer category as the interest rate might vary as per your customer type. 

Step 2: Enter the basic values 

After selecting the customer category you can proceed to enter values like investment amount, FD tenor, and FD type. 

Step 3: Press the’ Calculate’ button 

Once you are satisfied with the tenor, amount, and customer category that you have entered, you can proceed to click on the ‘Calculate’ button. On doing that, the calculator will display the FD returns along with interest income automatically. 

Analyzing the interest gains before investing should not be your only criteria while choosing an FD plan. You should also consider other factors such as FD rates, tenor, investment options, user-friendly features, etc. before finalizing your decision. 

Bajaj Finance FD scheme offers an attractive interest rate of up to 7.25% and also comes with a variety of user-friendly features that can accelerate the growth of your savings. Some of the key features of this FD scheme are listed below:

An array of user-friendly features 

Bajaj Finance FD scheme comprises a list of user-friendly features that make it easy for you to invest and grow your savings. For example, you don’t have to visit the branch office to open an FD account as an online FD form will be at your service whenever you want to invest in its FD plans. Also, you will get a 0.10% excess FD rate for choosing the online mode of investment. 

You need to pay via cheque or cash as the options of making payment via net banking and UPI are available. From certain locations in India, even the option of paying via a debit card is provided to the customers. 

Also, there is no need to submit a set of documents if you have a registered CKYC number. Moreover, you can also track your savings through Experia – the customer portal of Bajaj Finance. 

Flexible investment options 

A large corpus is not required to benefit from this FD scheme as you can even start investing in its FD plans with an FD minimum amount of Rs. 25,000. A flexible tenor that ranges from 12 to 60 months can be set for your deposited amount. 

Also, if you don’t want to consolidate your entire savings in one FD then you can invest in several FDs at once by using its multi-deposit feature. This feature enables you to pick a separate investment tenor and amount for each deposit. A single cheque can be submitted to deposit in all the FDs simultaneously. This feature will come in handy if you are thinking of laddering your deposits.

Simple withdrawal norms 

A deposit needs to at least complete a tenor of 3 months before you can withdraw it for some urgent requirement. A minimum penalty would be charged for withdrawing an FD prematurely. 

However, if you don’t want to break your investment then you can apply for a loan against your FDs as you will be eligible for a loan up to 75% of your FD value. These are collateral-free loans that can be repaid in easy installments. 

Investing in the Bajaj Finance FD scheme is beneficial for senior citizens as they are eligible for a 0.25% additional FD rate. Also, it is a safe investment avenue for everyone as CRISIL and ICRA which are the reputed credit rating organizations of India have rated it highly for securing the investment of its depositors. As a result, you can think of investing in this FD scheme to build a corpus.

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