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How a Fixed Deposit calculator helps you plan your investments?

By Anuj Cariappa
Google Oneindia News

The easiest way to grow your savings with low risk is through fixed deposit schemes. Bajaj Finance offers one of the interest rates, with additional benefits for online investors and senior citizens. You can lock into attractive interest rates, with tenures ranging from 12 to 60 months. In today's volatile markets, market-linked instruments can yield negative returns, and erode the investment capital. Thus, investors are looking at ways to safeguard their capital and protect their earnings with fixed-income instruments like fixed deposit.

How a Fixed Deposit calculator helps you plan your investments?

Bajaj Finance FD is one of the best options to get started, as it carries the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. The returns on your deposit are assured, and are unaffected by market fluctuations, so you can be assured of timely payment at your convenience.

For those looking to plan their investments beforehand, Bajaj Finance Fixed Deposit Calculator can be an accurate tool that offers a comprehensive all-round picture of what's at stake.

What is a Fixed Deposit Calculator?

Fixed Deposit Calculator is an easy-to-use tool that anyone can access online, to help investors calculate their fixed deposit maturity amount and the interest payout. Investors can also reap the benefit of prevalent FD interest rates and non-cumulative interest rates for periodic returns. The calculator gives investors an accurate value of their investments, and the wealth to be gained to meet their financial goals for the specified tenure. As a rule of thumb, the higher the investment amount and the longer the tenure, the higher the interest earned and the interest rate for compounding interest.

How are your investment details calculated?

A fixed deposit calculator can help you calculate the returns on your deposit, without the need for any complex manual processes and calculations. Investors can also modify their investment amount or tenure to find the best returns and the quickest path to growing their savings. The process for calculating returns, maturity amount or any other investment-related details involves a calculation, as per the formula provided below:

A = P + (P x r x t/100)
A = Maturity Amount
P = Principal Amount
R = Rate of Interest per annum
T= Tenure

To put this into perspective, let's assume that you invest an amount of Rs. 2,50,000 for 5 years at an interest rate of 6.6% and are looking for returns at maturity. As per the formula,

A = Rs. 2,50,000 + (2,50,000 x 6.6 x 5/100) = Rs. 3,44,133

Your cumulative fixed deposit maturity amount at the end of 5 years is Rs. 3,44,133.

Investment type Investment amount (Rs.) Tenure (Years) Interest rate (%) Interest amount (Rs.) Maturity amount (Rs.)
Bajaj Finance non-senior citizen (offline) 2,50,000 5 6.6 94,133 3,44,133

Note: ROI in the above calculator may vary upto 4 bps with the actual rates offered

As observed from the above example, manually calculating fixed deposit interest rates can be highly taxing. This is where a fixed deposit calculator comes in handy. Investors simply enter their investment amount and the tenure, and the calculator will give you the precise maturity amount. Additionally, investors can modify their investment amount or tenure to get the targeted savings for reaching their financial goals.

How to use Bajaj Finance FD Calculator?

As specified earlier, the Bajaj Finance Fixed Deposit calculator can be accessed online by visiting the fixed deposit calculator page. The page is extremely user-friendly and a non-cluttered interface. Users get detailed instructions about how the calculator functions with individual box sections that display rate percentages, and other numbers.

To get started, users must choose the 'type of customer' from the three listed options: Non-senior Citizen (offline), Non-senior Citizen (online), and Senior Citizen (online and offline). Once selected, the user must enter the investment amount and tenure. The user will get the applicable interest rate, maturity amount, and interest payout amount. What's more, cumulative fixed deposit and non-cumulative fixed deposit maturity details will also be available for users to reference their investments.

Benefits of Bajaj Finance FD Calculator

You can also consider investing in a Bajaj Finance online FD upon planning your investments beforehand. Here are some more benefits of using FD calculator to plan your investments.

Investors are informed about the exact maturity amount at the end of the fixed deposit tenure.

Accurately plan their investments with a view of the most up-to-date interest rates.

Investors get unlimited access to the calculator without the hassle of entering log-in details.

Comprehensive analysis of cumulative and non-cumulative fixed deposit schemes.

A fixed deposit calculator can offer much needed help in planning your investments. Investors often make the mistake of investing quickly, only to later realize that the vehicles are not meeting their future goals. A fixed deposit calculator gives you a completely transparent view of whatever investments you make today are sure to meet the financial demands of tomorrow.

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