How to Use Fixed Deposit Interest Rate Calculator?

Fixed deposits have been always the most popular investment options among investors of all risk profiles and appetites. In the current scenario when market volatility is at its peak and market-based instruments are losing their sheen, FDs have emerged as stronger investment preference than ever before. 

However, given that fixed deposit rates in India vary across all FD issuers, you must know about the precise value of returns before investing. Now, how would you do that? Well, the FD interest calculator comes handy here.

What is an FD Calculator?

An FD interest calculator is an online tool that helps you to estimate your maturity amount and interest income beforehand. It is one of the most popular tools that savvy investors use when they invest in FDs.

Why Should You Use FD Calculator?

There are several benefits of using FD calculator online:

• Get accurate information on the returns on the maturity of your FD.
• Make an informed decision about your FD investment.
• Compare fixed deposit rates in India across all banks and company FDs.

How to Use FD Calculator?

The first step is to find an authentic FD calculator tool such as that available on Bajaj Finance website. This way, you can ensure to get reliable results. Read the instructions carefully mentioned on the website to use this tool. When you use FD calculator online on Bajaj Finance website, you to follow just three easy steps:

• Select your customer type: non-senior citizen (investing offline), non-senior citizen (investing online) or a senior citizen (investing online/offline). As soon as you choose your customer type, it will automatically show the interest rate applicable to you.
• Choose the investment amount from the minimum-maximum range given.
• Choose the investment tenor which falls between 12-60 months.

After you complete these steps, the FD interest calculator will generate total interest payout, maturity date and total maturity amount. Let’s take an example here.

If a senior citizen investor wants to invest Rs. 10,00,00 for 5 years in Bajaj Finance FD today. The interest rate he will get is 7.35% which is among the highest fixed deposit rates in India currently. The FD calculator will get the following information:

• Cumulative: In the case of a cumulative FD, the investor will get the entire proceeds only at the end of the tenor. The interest is compounded annually and re-invested on the principal.

Total Interest  Payout	Maturity By	Total Maturity Amount
Rs4,25,641	October 2025	Rs14,25,641

• Non-Cumulative: In case of a non-cumulative FD, the investor can opt for periodic interest payouts on a monthly, quarterly, half-yearly or yearly basis as per his financial needs. Bajaj Finance FD interest calculator shows the interest payouts for both cumulative and non-cumulative FD simultaneously. Thus, you can easily plan your finances and investment goals accordingly.

Period	Interest Rate Applicable	Interest Payout
Monthly	7.11	5,925
Quarterly	7.16	17,900
Half Yearly	7.22	36,100
Yearly	7.35	73,500

When you get such detailed and accurate results from FD calculator online, you can also easily compare the returns across all FD issuers and choose the best FD that matches your investment expectations.

Apart from high interest rates, Bajaj Finance FD also offers various other benefits such as flexibility to choose tenors and the frequency of periodic interest payouts, loan against FD, auto-renewal, online application process, and more. It has received the highest ratings of FAAA/Stable by CRISIL and MAAA/Stable by ICRA. This means you are assured of guaranteed returns upon maturity.