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Calculate your FD interest and maturity amount.
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FD Calculator
Plan your investment better
Fixed Deposit Interest Calculator
When investing in a fixed deposit, the amount you deposit earns interest as per the prevailing FD interest rate. This interest keeps compounding over time and helps you grow your savings. Calculating all these details manually can be a tedious and time-consuming process. With the FD return calculator, you can now estimate the interest gains and FD maturity amount without must hustle.
The FD calculator can assist you in determining how much interest you can receive by investing in a fixed deposit for a set period. The maturity amount is calculated using an online FD calculator, interest compounded annually.
An FD calculator enables you to compare the maturity amount and interest rates of FDs offered for varied investment amount.
What is a cumulative fixed deposit?
When you invest in a cumulative fixed deposit, your interest gets compounded and paid at maturity. You can analyse your returns using the online FD interest calculator.
What is a non-cumulative fixed deposit?
When you invest in a non-cumulative fixed deposit, you can periodically avail of your interest payouts. You can opt for these payouts monthly, quarterly, half-yearly, or annually. Compute your interest using the FD interest calculator to determine the payout amounts according to your investment.
Here’s a quick look at the features and benefits offered on fixed deposits by Bajaj Finance.
Interest rate | Up to 8.20% p.a. |
Minimum tenure | 12 months |
Maximum tenure | 60 months |
Deposit amount | Minimum deposit of Rs. 15,000 |
Application process | End-to-end online process |
Online payment options | Netbanking and UPI |
How to use the online FD calculator?
The FD return calculator helps in determining the interest and the maturity amount of your investment. For using the FD calculator follow the below steps:
Step 1: Choose the customer type like customer below the age of 60 years or senior citizens.
Step 2: Enter the investment amount or use the slider to choose the investment amount.
Step 3: Enter the tenure or select from the slider.
Step 4: Choose your payout mode like whether you want your interest payout at maturity, monthly, quarterly, half-yearly or yearly.
The FD maturity amount calculator formula is:
A = P(1+r/n)^n*t
Where
- A is maturity amount
- P is the principal amount
- r is the rate of interest
- t is number of years
- n is compounded interest frequency
For an investment amount of Rs. 15,000, below is the interest earned and maturity amount for customers below 60 years of age.
| Period (in months) | Interest rate (w.e.f. w.e.f March 4, 2023) | Interest earned (Rs.) | Maturity Amount (Rs.) |
| 12 | 7.40% p.a. | 1,020 | 16,020 |
| 18 | 7.40% p.a. | 1,602 | 16,602 |
| 33 | 7.75% p.a. | 3,207 | 18,207 |
| 44 | 7.95% p.a. | 4,689 | 19,689 |
| 60 | 7.65% p.a. | 6,534 | 21,534 |
For an investment amount of Rs. 15,000, below is the interest earned and maturity amount for senior citizens.
| Period (in months) | Interest rate (w.e.f.w.e.f March 4, 2023) | Interest earned (Rs.) | Maturity Amount (Rs.) |
| 12 | 7.65% | 1,058 | 16,058 |
| 18 | 7.65% | 1,660 | 16,660 |
| 33 | 8.00% | 3,324 | 18,324 |
| 44 | 8.20% | 4,857 | 19,857 |
| 60 | 7.90% | 6,786 | 21,786 |
NRI FD Calculator
Calculate your return to invest better
As an NRI, you can invest in a Bajaj Finance Fixed Deposit, wherein you earn fixed interest on the amount deposited, which compounds over time. The NRI Calculator is a simple tool that helps you determine your maturity amount so that you can plan your investment. All you need to do is enter the desired deposit amount, choose a suitable tenure, and you will automatically see the returns on your deposit at maturity, even before you start investing.
Frequently asked questions
How to use an FD calculator online?
Using the FD interest rate calculator is a simple process. Here are the steps to use the FD Calculator.
1. Choose your customer type, i.e. customers below the age of 60 (investing offline or online) or senior citizen
2. Choose the type of fixed deposit you want, i.e. cumulative or non-cumulative
3. Choose your fixed deposit amount
4. Choose the preferred tenor of the fixed deposit
5. The fixed deposit interest calculator will automatically display your interest payout and the total amount earned at maturity Using the Bajaj Finance Fixed Deposit interest calculator can be a great way to determine your returns before investing. This can help you streamline your finances efficiently and maximize the returns on your investment.
How to calculate the fixed deposit maturity amount?
You can use the FD calculator or term deposit calculator to determine the FD maturity amount. Go to the online FD interest calculator and select customer category – senior citizen or customer below 60. Next, you need to select the FD type – cumulative or non-cumulative. And finally, choose your preferred deposit amount and tenor. The interest and maturity amount will then be automatically displayed on the screen.
You can use the FD calculator to determine the maturity amount of your fixed deposit. Interest rates vary according to the type of FD you choose, i.e. cumulative/ non-cumulative and the tenor. This FD interest calculator helps you determine the maturity amount in less than a minute.
How is fixed deposit interest calculated?
The returns on your fixed deposit investment are determined by your interest rates and frequency of interest payouts. These interest rates are compounded periodically, and the formula supporting the FD interest rates calculator is listed below.
Here's the FD calculation formula:
A=P(1+r/n)^n*t
Where;
A is maturity amount
P is the principal amount
r is the rate of interest
t is the number of years
n is compounded interest frequency.
What is a Bajaj Finance Fixed Deposit interest rate calculator?
Bajaj Finance Fixed Deposit interest calculator helps you determine the amount you will receive on the maturity of the deposit along with interest. It also enables you to calculate and compare the interest receivable by changing the deposit amount, tenor and interest payout frequency.
Can we get monthly interest on a fixed deposit?
Yes, you can get monthly interest payouts if you choose ‘monthly’ in the payout mode dropdown. When you invest your money in FDs, you gain interest on your principal amount. Using the FD Calculator online, Bajaj Finance Fixed Deposit enables you to choose your preferred tenor and the payout frequency to determine the gains you stand to make. If you’re looking for a monthly income from your investment, you can choose to get your interest payouts every month. With the help of a fixed deposit interest calculator, your monthly interest can be calculated efficiently.
However, your interest payout frequency may also impact the interestrate. The more frequently you withdraw your interest, the lesser interest you gain. You can keep checking the Bajaj Finance FD return calculator to know your returns before investing.
What is the ‘maturity amount’ in FD?
The maturity amount of your fixed deposit is a sum of your principal amount invested, along with pre-decided returns earned over the chosen tenor. You can easily calculate the FD maturity amount with an FD calculator online, even before investing. Enter the desired investment amount preferred tenor, and your FD maturity amount is calculated quickly.
How does the Bajaj Finance Fixed Deposit interest calculator work?
Based on your investment amount, tenure and payout option, Bajaj Finance FD calculator provides the applicable interest rate on your investment and calculates your interest along with the maturity amount.
What is the difference between Bajaj Finance’s cumulative and non-cumulative payout options?
Based on payout frequency, these two fixed deposit types are distinct from one another. A cumulative fixed deposit is used to pay the interest at maturity after it has been compounded annually. The interest is paid out either monthly, quarterly, half-yearly, or annually in a non-cumulative fixed deposit, depending on your needs.
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Disclaimer:
As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or referhttps://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.
For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.
FAQs
How do you calculate the amount of the fixed deposit? ›
This is a pre-fixed rate of interest at a fixed period of time. It is calculated by multiplying the rate of interest per annum, the principal amount, and the tenure in years. Maturity amount at the end of the 5-year deposit tenure: Rs.1.5 lakh.
Which bank is giving 7% interest on FD? ›Among scheduled private sector banks, Bandhan Bank offers the best FD interest rates of up to 8.00% p.a for a tenure of 600 days (1 year, 7 months, 22 days). Among scheduled public sector banks, highest FD rate is offered by Union Bank of India of up to 7.30% p.a for a tenure of 800 days and 3 years.
What is the FD rate in Bajaj Finance for NRI? ›The NRI FD interest rates in Bajaj Finance's NRI FD start at 7.40% for a cumulative type of FD for non-senior citizen investors for a tenor of 12 to 23 months. The interest rates in Bajaj Finance NRI fixed deposits are as high as 8.20% for a maximum deposit of up to ₹5 Crores and a minimum deposit value of ₹15,000.
How do you calculate FD monthly interest? ›...
Tax Saver Plan.
| years | Interest Earned | Closing Balance |
|---|---|---|
| 1 | ₹ 6,697 | ₹ 1,06,697 |
| 2 | ₹ 7,146 | ₹ 1,13,843 |
| 3 | ₹ 7,624 | ₹ 1,21,467 |
| 4 | ₹ 8,135 | ₹ 1,29,602 |
- A – Amount at the end of your maturity period.
- P – Principal.
- * – Multiply Sign which you will get on your digit 8 keyboard.
- r – R means rate of interest.
- ^ – To the power sign which you will get on your digit 6 keyboard.
- n – Number of years.
- Write = and select the Principal Amount =C3.
- Apply the Multiply Sign *
| Name of the Tax Saving FD | For General Citizens (p.a.) | For Senior Citizens (p.a.) |
|---|---|---|
| Axis Bank Tax Saving FD | 7.00% | 7.75% |
| Bank of Baroda Tax Saving FD | 6.25% | 6.90% |
| IDFC First Bank Tax Saving FD | 7.00% | 7.50% |
| Union Bank of India Tax Saving FD | 6.70% | 7.20% |
Also, SBI runs a specific scheme for seniors, SBI Wecare, which will earn up to 8 per cent interest rate on long term deposits with the latest hike. Generally, banks offer a higher premium to senior citizens. Also, the low risks associated with fixed term deposits make them an attractive investment option for them.
Is interest on FD taxable? ›According to the Income Tax Act, 1961, interest on FDs is treated as 'income from other sources' and hence, is fully taxable. The FD interest earnings are included in your gross annual income, and the tax liability is estimated, following the prevalent tax laws.
What bank is better than FD? ›One of the most popular investment instruments in India, equity funds is one of the better options than FD in India. An equity fund is a mutual fund scheme where your money is invested in various stocks and shares of different companies in the market. In this case, your funds are managed by a fund manager.
Do NRI pay tax on FD interest? ›Tax Implications on Investment in Fixed Deposits
An NRE Fixed Deposit is exempt from taxation, but an NRO Fixed Deposit is liable for the NRI tax due. Interest earned on NRE Fixed Deposit is exempt from tax in India but there is TDS applicable on interest earned on NRO Fixed deposit.
Which bank has best NRI FD rates? ›
| Bank | Interest rate range per annum for amount less than Rs.2 crore | |
|---|---|---|
| IndusInd Bank | 7.00% | 7.00% - 7.50% |
| Axis Bank | 6.75% | 6.75% - 7.26% |
| Tamilnad Merchantile Bank | 7.25% | 6.75% - 7.00% |
| Kotak Mahindra Bank | 6.90% | 6.90% - 7.10% |
NRIs can open fixed deposits in India. Two main types of fixed deposit they can open are NRE and NRO fixed deposits. NRI FDs offer several benefits. NRI fixed deposit rates in India are at par with FD rates of residents.
How FD interest is calculate with example? ›- There are two types of FD that you may avail of – simple interest FD and compound interest FD. ...
- M = P + (P x r x t/100), where –
- For example, if you deposit a sum of Rs. ...
- M= Rs. ...
- = Rs. ...
- M= P + P {(1 + i/100) t – 1}, where –
Earn monthly income with a non-cumulative deposit.
In cumulative FD, you can invest lump sum money over a specific period and avail of returns (principal+interest) after maturity. Returns are generally higher in the case of cumulative FD. In non-cumulative FD, you can earn a regular payout basis your investment.
Some banks offer monthly interest FDs for tenures as long as 10 years, which is a substantial period of time to receive an interest income.
How do you copy a fixed formula? ›Select the cell that contains the formula you want to move. Click Home > Cut (or press Ctrl + X). Select the cell you want the formula to be in, and then click Paste (or press Ctrl + V). Verify that the cell references are still what you want.
What is FV formula in Excel? ›FV, one of the financial functions, calculates the future value of an investment based on a constant interest rate. You can use FV with either periodic, constant payments, or a single lump sum payment. Use the Excel Formula Coach to find the future value of a series of payments.
Which Bank gives 7% interest monthly? ›Equitas Small Finance Banks offers interest rates between 3.50% and 7% on various amounts. The interest rates with the Equitas Small Finance Bank are provided below, effective as of November 9, 2022. Jana Small Finance Bank offers interest rates between 4.50% to 7% on various amounts.
Which Bank is best for fixed deposit for 1 year? ›| Bank | Regular FD Rates (per annum) |
|---|---|
| Kerala Transport Development Finance Corporation Limited (KTDC) FD | 7.00% |
| Utkarsh Small Finance Bank FD | 7.50% |
| Shriram City Union Finance FD | 7.06% |
| LIC Housing Finance Limited FD | 7.00% |
Earn 7.3%* Interest on FD
Rates are subject to change as per the bank's discretion. SBI offers FD interest rates of 3.00%-7.10% p.a. to the general public and 3.50%-7.50% p.a. to senior citizens for tenures ranging from 7 days to 10 years. The interest rate of SBI Tax Saving FD is 6.50% p.a.
Who has highest interest rate? ›
- My Banking Direct - 4.38% APY.
- Primis Bank - 4.35% APY.
- MySavingsDirect - 4.35% APY.
- Fitness Bank - 4.35% APY*
- Vio Bank - 4.30% APY.
- Bask Bank - 4.25% APY.
- Bread Savings - 4.25% APY.
- Ivy Bank - 4.25% APY.
- State Bank of India (SBI) Savings Account. 2.70% p.a.
- HDFC Bank Savings Account. 3.50% p.a.
- Kotak Mahindra Bank Savings Account. 3.50% p.a.
- DCB Bank Savings Account. 6.50% p.a.
- RBL Bank Savings Account. 6.00% p.a.
- IndusInd Bank Savings Account. 5.00% p.a.
- ICICI Savings Bank Account. 3.50% p.a.
- Featured offer.
- What are the best high-interest fixed rate accounts?
- Atom Bank 1 Year Fixed Rate Saver.
- Ford Money Fixed Saver 2 Year.
- Close Brothers Savings 3 Year Fixed Rate Bond.
- Union Bank of India (UK) Fixed Rate Deposit - 4 Years.
- Ford Money Fixed Saver 5 Year.
A tax-saving fixed deposit (FD) account is a type of fixed deposit account that offers a tax deduction under Section 80C of the Income Tax Act, 1961. Any investor can claim a deduction of a maximum of Rs.1.5 lakh per annum by investing in a tax-saving fixed deposit account.
How do I avoid tax on FD interest? ›If your interest income from all FDs with a bank is less than Rs 40,000 in a year, the bank cannot deduct any TDS. The limit is Rs 50,000 in the case of a senior citizen aged 60 years and above. Prior to Budget 2019, the limit of TDS on interest income was Rs. 10,000.
Which FD is tax free? ›Individuals and Hindu Undivided Families (HUFs) can invest in a tax saving FD. You can invest in a tax saving FD through any public or private bank except cooperative and rural banks. An individual can hold 'single' or 'Joint' tax saving FD. Incase of 'Joint' mode, only the first holder can avail of tax benefits.
Which company FD is safest? ›| Name | Fixed Deposit Interest Rate (%) | Tenure |
|---|---|---|
| Bajaj Finserv FD | 6.55% – 7.70% | 12 to 60 months |
| ICICI Home Finance FD | 7.00% – 7.50% | 12 to 120 months |
| HDFC Ltd. FD | 6.85% to 7.35% | 12 to 60 months |
| Mahindra Finance FD Scheme | 7.05% – 7.50% | 15 to 40 months |
Starting investments like fixed deposit online and digital transactions are sure of great convenience but, at the same time, also leave you vulnerable to frauds.
Why mutual funds are better than FD? ›Offers better returns (based on whether you choose debt funds or equity based mutual funds) than fixed deposits. You can start investing with small amount. Offers risk mitigation through diversification. Offers better taxation compared to fixed deposits.
Do I have to pay tax on NRE fixed deposit in USA? ›Interest earned on NRE Account or NRO Account is Taxable in the U.S. including NRE FD, NRO FD interest. You have to add all your income from India to your US income and pay taxes if you are a Green Card holder, PIO, OCI, or legal resident (working on H1B, L1B, H4 EAD, or any other work visa in the USA).
How to avoid TDS on NRO fixed deposit? ›
The best way for an NRI to avoid paying a high TDS is to open a Non Resident Ordinary Rupee Account (NRO), a Foreign Currency Non Resident Account (FCNR) and a Non Resident External Account (NRE).
Is NRE tax-free? ›Taxation of interest on NRE account
Any interest on the NRE account is fully exempt under Section 10(4)(ii) of the Income Tax Act without any limit. Since the interest on such deposits is fully exempt the bank will not deduct any tax on such interest at source.
| Ranking | Country | Deposit Interest Rate |
|---|---|---|
| 1 | Zimbabwe | 92% |
| 2 | Argentina | 70.07% |
| 3 | Venezuela | 36% |
| 4 | Moldova | 19.5% |
...
List of Safest NBFCs in India.
| Sr. No. | Name of the NBFC | Score |
|---|---|---|
| 1 | Bajaj Finance FD | FAAA |
| 2 | PNB Housing Finance FD | FAA+ |
| 3 | Mahindra Finance FD | FAAA |
You can indefinitely retain foreign exchange upto US$ 2,000, in the form of foreign currency notes or travellers' cheques (TCs) for future use. Any foreign exchange in cash in excess of this sum, is required to be surrendered to a bank within 90 days and TCs within 180 days of return.
What happens if I don't convert my account to NRO? ›Penalties for not converting to NRO account
Under the Act, any individual who fails to adhere to the guidelines is liable to pay a penalty of up to 3 times the amount involved in the existing resident savings account or Rs 2 lakh when the sum is not quantifiable.
- Interest earned on balances in NRO Accounts is not exempted from Indian Income tax. Instead income tax is deducted at source (TDS) i.e. at the time of payment of interest by the bank.
- Balance held in NRO account can neither be repatriated.
- (P x r x t) ÷ 100.
- (P x r x t) ÷ (100 x 12)
- FV = P x (1 + (r x t))
- Example 1: If you invest Rs.50,000 in a fixed deposit account for a period of 1 year at an interest rate of 8%, then the simple interest earned will be:
- Effective annual interest rate = (1 + (nominal rate ÷ number of compounding periods)) ^ (number of compounding periods) - 1.
- For investment A, this would be: 10.47% = (1 + (10% ÷ 12)) ^ 12 - 1.
- And for investment B, it would be: 10.36% = (1 + (10.1% ÷ 2)) ^ 2 - 1.
SI = (P x R x T) / 100
R = Rate of interest. T = Time period (investment or loan repayment)
How can I make $10000 a month in passive income? ›
- Start Dropshipping with Shopify. ...
- Offer Freelance Writing Services. ...
- Start a Bookkeeping Business. ...
- Open a Custom Pins Shop Online. ...
- Start Affiliate Marketing with Clickbank. ...
- Start a Blog. ...
- Sell T-Shirts through Tee Spring. ...
- Start a Web Development Business.
One strategy that can help you reach this goal is to invest in a mix of different assets, such as stocks, bonds, mutual funds, and real estate. This diversification helps to spread out the risk and increase the chances of achieving your desired returns.
How to invest 50 lakhs for monthly income? ›- Investment Plans with High Returns.
- Market Linked Investment Plans (ULIP)
- Investment Plans for NRIs.
- Guaranteed Return Plans.
- SIP (Systematic Investment Plan)
- Endowment Policy.
- LIC.
- Money Back Policy.
- Retirement Plans. Retirement plans work as an insurance cum investment plan offering the insured a regular monthly income source when there is no fixed income for them in the making. ...
- ULIPs. ...
- Fixed Deposits. ...
- Public Provident Fund. ...
- Mutual Funds Through Systematic Investment Plans.
When looking to invest in fixed income avenues, your first priority should be government-backed investments such as Senior Citizen Savings Scheme (SCSS) or Pradhan Mantri Vaya Vandana Yojana (PMVVY). As far as interest rates for these two schemes go, they both provide a decent return of 7.40 per cent per annum.
Which FD is best for monthly income? ›| Bank | Tenure | Interest Rate |
|---|---|---|
| HDFC Bank FD | 7 days to 10 years | 2.5% to 5.5% |
| SBI Bank FD | 7 days to 10 years | 2.9% to 5.4% |
| Axis Bank FD | 7 days to 10 years | 2.5% to 5.75% |
| Kotak Bank FD | 7 days to 10 years | 2.5% to 5.3% |
So, what exactly is a Fixed Deposit? In a Fixed Deposit, you put a lump sum in your bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, you receive the amount you have invested plus compound interest. FDs are also called term deposits.
How much amount we can do fixed deposit? ›FD amount limit
These amounts vary from bank to bank. Usually, banks these days have to be informed prior to depositing bulk amounts, such as Rs 1 crore or more as FD. Most banks will allow you to start an FD with as low as Rs 5,000-10,000.
FD interest rates of scheduled banks range from 2.10% p.a. to around 7.50% p.a. for the regular depositors for tenures ranging from 7 days to 10 years. Senior citizens are usually offered an additional interest of 0.50%-0.75% p.a. above the applicable FD card rates.
Which type of FD is best? ›Corporate Fixed Deposit schemes offer higher returns on your investment, but choosing the right company is imperative. If you choose a good Company FD scheme, you will generally earn more on your investment than bank FDs as these schemes offer the highest interest rate on FD.
What is better than fixed deposit? ›
One of the most popular investment instruments in India, equity funds is one of the better options than FD in India. An equity fund is a mutual fund scheme where your money is invested in various stocks and shares of different companies in the market. In this case, your funds are managed by a fund manager.
Which bank is best for FD? ›- Yes Bank.
- IndusInd Bank.
- Punjab National Bank.
- IDBI Bank.
- Union Bank.
- Citibank.
- RBL Bank.
- Indian Bank.
Equitas Small Finance Banks offers interest rates between 3.50% and 7% on various amounts. The interest rates with the Equitas Small Finance Bank are provided below, effective as of November 9, 2022. Jana Small Finance Bank offers interest rates between 4.50% to 7% on various amounts.
Do we need to pay tax on FD interest? ›According to the Income Tax Act, 1961, interest on FDs is treated as 'income from other sources' and hence, is fully taxable. The FD interest earnings are included in your gross annual income, and the tax liability is estimated, following the prevalent tax laws.