FD (Fixed deposit) is a type of term deposit in which a lump sum of money is deposited by the investor with a bank, post office or an NBFC. An FD account ensures a higher interest rate than a regular savings account.

However, FD interest rates vary between banks and NBFC to NBFCs. Although NBFCs like Bajaj Finance offer a higher rate of interest in comparison to Banks.

Apart from this, tax-saver FDs help you get a tax deduction under section 80C of the Indian Income Tax Act, 1961. Any investor can claim a determination of a maximum of Rs.1. 5 lacks by investing in tax saver fixed deposits.

## Calculation of FD interest amount

• Your FD interest amount, i.e. the returns on your Fixed Deposit, is dependent on the following factors:
• Principle amount or deposit: High interest comes from high stakes.
• Deposit tenor: Longer the tenor higher would be the interest.
• Rate of interest: A high percentage of interest rate offers a significant amount of interest.
• Type of deposit (Cumulative or non-cumulative): Cumulative FDs are preferred for the greater good.
Frequency of interest payout: You can compound your interest per month, quarterly, half-yearly or annually with Bajaj Finance Fixed Deposits. However, compounding your interest rates frequently might decrease the amount of interest.
Type of customer (Senior citizen, new and existing customer): Senior citizens are favoured over regular customers and get higher FD interest rates.
Since there are many factors to be considered, an online FD Calculator is highly recommended to easily calculate your FD interest amount. It also provides you with the total maturity amount, saving you time in the manual work.

## Fixed Deposit Calculator

Bajaj Finance Fixed Deposit Calculator is an online tool designed to help you determine your FD interest and maturity amount in only a few minutes. Besides, it enables you to calculate and compare your receivable interest amount conditioned to different combinations of the deposit amount, tenure and interest payment frequency.

## How can you utilize Bajaj Finance FD Calculator?

1. Using an FD calculator is a straightforward process. All you need to do is;
2. Choose your Customer type: New Customer, Existing Loan Customer or Senior Citizen.
3. Select the type of Deposit: Cumulative or Non-cumulative.
5. Choose the tenure of the deposit.
And voila! You get to know your exact maturity and interest amount for the particular combination of information you entered. It is an excellent way to determine your returns even before investing.

## How can you utilize an FD calculator to anticipate and plan your future finances well?

Take a well-informed decision: With the help of an FD calculator, you can differentiate the FD interest rates offered by different banks & NBFCs. You can easily comprehend which bank provides the best interest on tenure chosen by you and thus make sure you get the best out of it. An FD calculator would not only help you in saving time but would also help you plan efficiently by knowing your exact returns.
Ladder up your fixed deposits efficiently: It is always recommended to spread your savings in more than one FD at a given time. With the help of an FD calculator, investors can easily choose tenures & principles of FD to fulfil their dreams. Different FDs with different tenors help you meet your other goals. And to figure out how much you must have to achieve a particular purpose, you can utilize an FD calculator.
Choose a variant between the cumulative and non-cumulative options: A lump sum amount will be received after the maturity in case of an incremental opportunity, whereas for non-cumulative FDs, you get a fixed interval payout. Interest earned in Cumulative FD will be higher than in non-cumulative one because of the power of compounding.

All things said and done, I hope this article will conclude all the factors responsible for calculating your FD interest amount. And you can utilize the tips above to make a well-informed financial decision using Bajaj Finance Fixed Deposit Calculator.

FD (Fixed deposit) is a type of term deposit in which a lump sum of money is deposited by the investor with a bank, post office or an NBFC. An FD account ensures a higher interest rate than a regular savings account. However, FD interest rates vary between banks and NBFC to NBFC. The calculation of the FD interest amount is dependent on the following factors:
• Principle amount or deposit
• Deposit tenor
• Rate of interest
• Type of deposit, i.e. Cumulative or non-cumulative
• Frequency of interest payout
• Type of customer, i.e. Senior citizen, new and existing customer
Since there are many factors to be considered, an online FD Calculator is highly recommended to easily calculate your FD interest amount. A Fixed Deposit Calculator is an online tool to help you determine your FD interest and maturity amount in only a few minutes. It is straightforward to use and enables you to make a well-informed financial decision knowing your exact returns.