Fixed income instruments allow you to predict post maturity returns. The returns can be calculated more accurately in case of fixed deposits as their interest rates remain the same throughout the tenor. 

However, calculating the returns and interest gains with a pen, paper, and a pocket calculator is not required especially when you have the option of using an online FD calculator. 

An FD amount calculator lets you calculate the interest and final maturity amount effortlessly. You only have to enter certain values like principal amount, tenor, customer type, etc. manually and the calculator does the rest of the calculations on its own. 

It enables you to check how tenor impacts your returns and also helps you to pick the right amount and tenor as per your financial plans. 

Now, let us see how to use an online FD calculator:

• Visit the official portal of the financier with which you are planning to open an FD account. 
• Enter your customer type and basic details like deposit amount, tenor, and FD type. 
• After choosing these details, the calculator will show the interest and returns that you will receive at maturity. 

These are some of the benefits of using an FD calculator:

Comparing FD types 

You can use this calculator to understand and compare the returns provided by cumulative and non-cumulative FDs as it shows the interest earnings and maturity amount offered by both these FD types. 

Since the non-cumulative FD provides a part of the interest earnings periodically, the overall returns and interest gains will be slightly less than a cumulative FD. 

This is because the cumulative FDs provide the entire interest earnings at once and therefore, you benefit from the compounding of interest that is done at regular intervals. 

Bajaj Finance FD calculator displays the interest earnings and returns of both the FD types at once for making it easy for the customers while choosing between them. Upon booking an online Bajaj Finance FD, you get an additional interest of 0.10%.

Insightful for senior citizens

Bajaj Finance senior citizen fixed deposit scheme offers the options of monthly, quarterly, bi-annual, and annual interest payouts through which you can opt for periodic payouts as per your financial needs. Not only that, it offers a 0.25% additional interest rate to senior citizens which helps them to obtain higher returns. 

With the help of an FD calculator, you can check how the investment amount and tenor affect the interest payouts. This proves to be more than helpful if you are planning to meet your expenses through the interest payouts.

Investment planning 

An FD rate calculator can be used as an effective investment planning tool as well. Firstly, you can use it to find out the exact returns that you can expect post maturity of different FD plans and this enables you to plan your investments carefully. 

Also, you can predict the earnings according to the interest rates offered to various customer types and choose a fixed deposit plan as per your financial obligations. 

Bajaj Finance FD is offering interest rates as high as 7.35%. These deposits are safe and credible as they have been highly rated for their stability by reputed credit rating organizations like CRISIL and ICRA. 

Also, you get the option of choosing a flexible tenor from 12 to 60 months for your FD and you can monitor your investments online through the customer portal – Experia. 
An FD calculator is a multi-purpose tool that helps you to predict the returns, compare the interest rates of various FD types, and assists you in financial planning as well. Apart from this, it also allows you to understand the subtle differences between FD types i.e. cumulative and non-cumulative FDs. FD monthly payout calculator from Bajaj Finance helps you to compare different FD plans and FD types seamlessly. It also provides details about interest payouts which the senior citizens can use to manage their expenses. High fixed deposit interest rates up to 7.35% and the safety of the invested amount make these FDs suitable for everyone.