Bajaj Finance Fixed Deposit Calculator

A proven way to grow your savings over time is to initiate fixed deposits for predetermined periods. However, with numerous FD options available in the market, it is crucial to select a provider that offers highly competitive interest rates.

For instance, investing in a Bajaj Finance fixed deposit via Stable Money can be a viable way to grow your wealth. Here, regular investors can secure returns of up to 8.65% per annum. Also, it is quite easy to open and manage your fixed deposit online through the Stable Money app.

For added convenience, you can use the Bajaj Finance fixed deposit calculator to see the maturity amount at the end of your investment term. If that sounds convenient, continue reading to learn more about Bajaj Finance’s online fixed deposits and calculator.

How Can the Bajaj Finance FD Calculator Help You?

Investors need well-planned strategies to realise long-term financial goals. By entering the investment amount, tenure and prevailing interest rates into a Bajaj FD calculator, one can obtain accurate results for potential returns. This is why it is highly recommended to use Stable Money – it cuts the wait and lets you compare all leading FD providers in one place.

You can adjust the investment amount and tenure using this free online calculator to fit your expected returns. Simply put, this tool helps you develop an idea of how you can maximise your savings through strategic planning and budgeting.

Formula to Determine Bajaj Finance Fixed Deposit Interest

To determine the returns from your fixed deposit account, you can implement 2 different formulas based on whether you are getting simple interest or compound interest. Here’s a brief explanation:

Simple Interest Formula

With this equation, you can get returns from FDs that do not offer compounding benefits. Here’s the formula:

Simple interest = (P x R x T) / 100

In this formula, P, R and T represent principal invested, annualised rate of interest and tenure (in years) respectively. Let us understand this better with an example.

Suppose, XYZ invested ₹5,00,000 in a fixed deposit with Bajaj Finance at a yearly interest return of 7.11%. Considering he would want to stay invested for 5 years, the simple interest calculation would likely look as follows:

Simple interest = (5,00,000 x 7.11 x 5) / 100 = ₹1,77,750

Thus, XYZ will earn ₹1,77,750 on his fixed deposit investment at the end of the maturity term.

Compound Interest Formula

This formula takes into account the compounding factor. Here’s the breakdown:

Compound Interest = P(1 + r/n)^(nt) - P

In this formula, P stands for the initial principal. Whereas, r, n, and t represent the rate of interest, frequency of compounding in a year and tenure (in years).

For the above scenario, if XYZ had earned compound interest on his FD investment, his returns would have been:

Compound Interest = 5,00,000 (1 + 0.0711/1)^(1 x 3) - 5,00,000

= ₹2,13,422

As you can see, calculating compound interest can be complex. There remains a risk of errors when manually determining returns on significant sums. So, you can rely on a Stable Money FD calculator to fetch the results quickly.

Benefits of Using the Online Bajaj Finance Fixed Deposit Calculator

Some advantages of using the Bajaj Finance fixed deposit calculator include:

Ease: You can conveniently check your potential FD returns from anywhere. To start exploring, input the required FD details in the above calculator or install the Stable Money app on your Android or iOS device now!
Precision: The online calculator gives accurate results by taking in parameters like interest rate, principal and tenure of deposit.
Time-Efficient: FD calculators help save time by instantly displaying results without any manual intervention.

Finally, the Bajaj Finance calculator will help you plan your future investment portfolio by providing quick insights and assisting in superior decision-making.

Current Bajaj Finance Interest Rates

The Bajaj Finance NBFC guarantees competitive fixed deposit interest rates for both its senior citizens and regular investors.

If you are below 60 years old, you can get interest returns between 7.40% and 8.40% per annum. For those above 60 years of age, the interest rate can go up to 8.65% per annum. However, the Bajaj Finance FD interest rates can differ based on the amount you are investing and the tenure you have chosen. Therefore, it is essential to project returns prior to investing.

Additional Features of Bajaj Finance FD to Aid Your Investment

The following features make Bajaj Finance fixed deposits a credible investment option for individuals seeking to fulfil mid-term and long-term goals.

Auto-renewal

Opting for this option can be highly advantageous as Bajaj Finance is currently offering high interest rates on FDs. Therefore, you can lock in your investment for a desired time frame to protect your wealth from inflation.

Loan Against FD

You can avail a loan at discounted rates of interest against your Bajaj Finance fixed deposit account. It helps eliminate your liquidity-related issues. Additionally, repaying EMIs becomes straightforward as you can avail a monthly payout option and contribute a small portion of the repayment with this amount.