Knowing the investment amount and duration is vital to earning optimal returns. Your investment in a fixed deposit can either be a short- or long-term investment. You can use an FD calculator to know which option is better suited. Since fixed deposits have a fixed interest rate and you get secured returns, tools like the Bajaj Finance Fixed Deposit Interest Calculator can come in handy when planning your investment. By knowing your expected maturity amount, you can easily invest accordingly and finance future obligations.
This FD calculator calculates your earnings based on your investment amount, preferred tenor, and fixed deposit interest rate. The fixed deposit interest calculator is free to use and can be used on any digital platform. To know how to use the fixed deposit interest calculator, read on.
How to use a Bajaj Finance FD calculator?
You can use this fixed deposit interest calculator by following these simple steps:
· Visit the official FD calculator webpage
· Select whether you are a ‘Senior citizen’ or ‘Customer below the age of 60.’
· Enter the investment amount and tenor
· Select your preferred payout mode, which is listed as ‘On maturity’, ‘Monthly’, ‘Quarterly’, ‘Half-yearly’, or ‘Yearly.’
After entering all the data into the required fields, your results will be displayed automatically. The process takes just a few seconds, and you can even click the ‘Compare Interest Payouts’ option to get a detailed breakdown. Based on these steps, it is clear that using the Bajaj Finance Fixed Deposit interest calculator is easy. There are a few benefits to doing so, and here is a quick overview.
Compare different FD offers to identify the most profitable
Before making an investment decision, you must compare different offers. An FD calculator lets you assess your earnings for different fixed deposit interest rates, tenor, and investment amounts. Comparing returns on various offers can give you crucial insight into suitable options. Some offers may be better suited for the short-term, earning you lower returns in the long term. Comparing the different offers allows you to find the most profitable one based on your investment objectives.
Get an accurate idea of your earnings
Knowing how much you will earn at maturity is crucial to making an investment decision. An inaccurate estimate of your earnings can lead to poor financial decisions. But with a fixed deposit interest calculator, you don’t have to worry about such a problem as it always outputs accurate results. All you have to do is make sure that your investment amount, tenor, and age are entered correctly.
Find the ideal investment window to align with your goals
Your maturity amount is dependent on various factors, including your investment tenor. Identifying the ideal tenor can help you maximise your returns. A fixed deposit interest calculator gives you the option of adjusting the tenor. You can find the optimal tenor with a clear maturity goal by manually changing it. Bajaj Finance offers a tenor between 12 and 60 months, giving you ample flexibility when investing.
A fixed deposit interest calculator also offers insight into how the payout mode affects your returns. You can choose between a cumulative and non-cumulative fixed deposit. Cumulative FD gives your return at maturity, and non-cumulative FD allows you to get interest payouts periodically.
Reduce the risk of errors that can occur with manual calculations
A fixed deposit interest calculator is not only quick but also automated. When you try to calculate your earnings manually, there is a possibility of miscalculation. Moreover, the manual mode is time-consuming and can be pretty tedious. But with the FD calculator, you don’t have to calculate anything. Enter the requested data into the data fields. There is minimal room for error, and you can rely on the results displayed.
Here are the periodic returns you can expect to earn with an investment of Rs. 3 lakh.
For people below 60 years of age (non-senior citizens)
For people of age 60 years and above (senior citizens)
Disclaimer: All values are calculated using the Bajaj Finance FD calculator.
Always keep your financial goals in mind when investing. Decide on the purpose of your investment to be able to decide on the best terms. Use the FD calculator offered by Bajaj Finance to understand the financial implications of your decisions and invest appropriately. To earn generously and enjoy secured returns, invest in a Bajaj Finance Fixed Deposit. You can start your journey with a minimum deposit of Rs.25,000 and access the competitive fixed deposit interest rates. Moreover, with an accessible digital application process, you can invest online in just a few minutes without ever having to leave the comfort of your home.
