Fixed Deposit is a kind of investment offered by banks and other non-banking financial companies (NBFC) in which the lump sum of money is invested to earn a higher rate of interest than a regular savings account. Because of high-interest rate and low risk, FD is a popular investment choice among Indian investors.
However, the interest rates differ from banks to banks and NBFCs to NBFCs. Also, the tenure of your FD plays an important role in figuring out what interest rate you are eligible for. Although senior citizen fixed deposit interest rates are always higher than that of normal customers. Depending on the investor’s choice, the interest earned on FD is either paid at regular intervals or reinvested.
What is the minimum amount required to invest in FD?
The minimum amount to invest in an FD depends on your choice of financial institution. For example, you can start investing in Bajaj Finance Fixed Deposits with a minimum deposit of Rs. 25,000 and enjoy interest rates up to 7.85%.
What is the minimum tenure to invest in FD?
The minimum tenure of your FD can be as low as 7 days & a maximum of 10 years.
Latest Fixed Deposit rates in India
Below is the list of Fixed Deposit rates in India of some reputed Banks & NBFCs based on the tenure of FD.
|Name||Tenure of 1 year||Tenure of 3 years||Tenure of 5 years|
|IDFC First Bank||4%||4.5%||4.6%|
As the only Indian NBFC with an international rating of ‘BBB’ by S&P Global, Bajaj Finance Fixed Deposits are a great way to park your savings.
Senior citizen fixed deposit interest rates in case of Bajaj Finance FD are up to 7.85%. So fill out this form today and start earning on your savings!
What is FD interest rates Calculator?
An FD interest calculator like that of Bajaj Finance can help you determine your FD returns even before you start investing based on the information you enter.
FD interest calculator is an online aid to get an approximation about the maturity amount that the investor expects at the end of a chosen tenure for a certain deposit amount at the applicable interest rate. Let’s see how to use Bajaj Finance Fixed Deposit interest rate Calculator.
How to use Bajaj Finance Fixed Deposit Interest Rate Calculator?
Using an online FD interest calculator is very easy. All you need to do is:
- Choose your customer type, i.e. New/ Existing Customer or Senior Citizen
- Select the type of Fixed Deposit you want, ie cumulative or non-cumulative
- Select the amount of your fixed deposit
- Select the preferred term of fixed deposit
And done. You can now see the amount of interest earned and the overall FD returns automatically calculated.
How to utilize the Bajaj Finance FD interest Calculator to anticipate and plan your future finances well?
- Take a well-informed decision: With the help of an FD interest calculator, you can easily fathom which bank gives the best interest on tenure chosen by you and thus ensure you receive the best in return. A FD interest rates calculator would help you in saving time as well as assist you to plan efficiently by knowing your accurate returns.
- Ladder up your fixed deposit efficiently: It is always prescribed to spread your savings in more than one FD at a given time. Different FDs with different tenors help you fulfil your different goals. And to figure out how much you must-have for achieving a particular goal you can utilize an FD interest calculator. Investors with the help of an FD interest calculator can easily choose tenures & principles of FD to fulfil their goals.
- Choose a variant between the cumulative and non-cumulative options: A lump sum amount will be received after the maturity in case of a cumulative option whereas for non-cumulative FDs you get fixed interval payout. Interest earned in a Cumulative FDs will be higher than non-cumulative ones because of the power of compounding. And you can use an FD interest calculator to choose between them.
Bajaj Finance Fixed Deposit has the highest safety ratings of FAAA by CRISIL and MAAA by ICRA, so you can get assured returns up to 7.85%. Invest Online.
Fixed Deposit is a kind of investment offered by banks and other non-banking financial companies (NBFC) in which the lump sum of money is invested to earn a higher rate of interest than a regular savings account.
With the presence of so many FD providers in the market, it becomes very difficult to choose one. But not when you can know how much returns you would get on investing with a particular bank or NBFC…right?
Yes, an FD interest calculator like that of Bajaj Finance can help you determine your FD returns even before you start investing based on the information you enter. FD interest calculator is an online aid to get an approximation about the maturity amount that the investor expects at the end of a chosen tenure for a certain deposit amount at the applicable interest rate.
Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.