Are you contemplating different investment avenues for your hard-earned money? Or, do you wish to optimize your investment risk by diversifying your portfolio? Well, whatever may be your objective, an FD is a good investment option with a relatively lower risk component than market-linked instruments.
The full form of FD is Fixed Deposit. The keyword in the full form of FD is “Fixed”. It refers to the rate of return on an FD which is pre-determined for different investment periods. In other words, the rates of return from FDs remain fixed throughout the investment horizon and are unmoved by market fluctuations.
However, irrespective of the reliability and stability of FD investments, you may want to know your FD returns beforehand. An online tool known as an FD calculator helps you compute your FD returns even before undertaking an investment. Let us understand more about this amazing tool.
FD Calculator
Manually calculating FD maturity amounts is a time-consuming and cumbersome process. It involves many variables. An FD calculator saves your precious time by doing complex calculations within seconds. Moreover, you can do it with a single click from the comfort of your home.
An FD calculator not only helps you know your returns in advance but also helps you compare FDs offered by different financial institutions. Based on the results, you can make informed investment decisions. Rational investors will always choose an FD with the highest rate of return.
FD calculators are available on various websites. You can use internet search engines to access a large number of online FD calculators. The Bajaj Finance FD calculator is in-built on its website.
You just have to input a few parameters in the Bajaj Finance FD calculator to know your FD returns. They are as follows:-
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Firstly, select the customer type – Online non-senior investors, offline non-senior investors, or senior citizens.
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Secondly, specify the principal amount to be invested. A Bajaj Finance FD requires you to invest a minimum amount of just Rs 25,000. The maximum investment limit is capped at Rs 1 crore.
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Thirdly, choose the investment tenor. Bajaj Finance FDs are available for a wide range of investment durations from 12-60 months.
Once you have input the above parameters, Bajaj Finance FD calculator displays the applicable interest rate, interest payout, maturity date, and maturity amount for cumulative deposits. For non-cumulative deposits, it computes the monthly, quarterly, half-yearly, and yearly interest payouts. It also displays the applicable interest rates for all payout options for the selected investment period.
Bajaj Finance FD rates range between 6.15% – 7.25% depending on the investment duration chosen. Moreover, non-senior online investors, get an additional return of 0.10% over and above the stipulated rate of return for all investment tenors. If you are aged above 60, then your gains are higher from a Bajaj Finance FD. Bajaj Finance offers an additional 0.25% return to senior citizens for all investment horizons.
You can use the Bajaj Finance FD calculator to compute tentative returns from FDs of other financial institutions too. It is a user-friendly, quick, and accurate online tool.
If you are speculating investing in the Bajaj Finance SDP, then you can use the Bajaj Finance SDP calculator that is also in-built on their website. Apart from customer type and investment tenor, you have to input the investment amount per month and the number of deposits. You can open Bajaj Finance SDP with just Rs 5000 in your pocket each month. You are also allowed to make 6-48 deposits throughout your investment tenor.
The Bottom Line
The Bajaj Finance FD and SDP calculators are great tools for investors. Knowing your returns in advance enables you to manage your interest rate risks as well. You can open multiple deposits with varying durations to beat interest rate risks. Thus, the Bajaj Finance online calculators optimally serve your dual purpose of advance return calculation and risk management.
