Bajaj Finance has revised its Fixed Deposit interest rates by 60 basis points offering higher returns to all investors. Earning high returns on investments is a priority for many investors as it helps them get closer to achieving their financial goals. This increase in the FD interest rates, 2022 seems an opportune time to consider adding this instrument to the mix.
The Fixed Deposit Interest Calculator, available from Bajaj Finance, makes it easy for investors to plan their investments. With the Bajaj Finance FD calculator, calculating fixed deposit interest returns is simple, convenient, and error-free.
Fixed Deposit new interest rate
Apart from the special interest rate mentioned above, Bajaj Finance has also revised the interest rate for other tenors.
Customers below 60 years can earn 6.40% for a tenor of 24-35 months and 6.90% if they choose a tenor of 36-60 months. The interest rate table for senior citizens is as mentioned below:
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The rate change also impacts the senior citizens, who can now earn up to 7.15% p.a. for a tenor of 36-60 months and 6.65% p.a. for a tenor of 24-35 months. The interest rate table for senior citizens is as mentioned below:
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The Bajaj Finance Fixed Deposit special interest rate
Bajaj Finance Fixed Deposits has also included special interest rates for all customers. With special interest rate one can now choose specific tenors to enjoy interest rates up to 7.35% p.a.
For a tenor of 44 months customers below 60 years of age can enjoy FD interest rate of 7.10% p.a. while senior citizens can earn up to 7.35% p.a.
The special interest rate table for customers below 60 years is :
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For senior citizens the applicable special interest rates are:
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Calculating fixed deposit interest
With a Bajaj Finance fixed deposit interest calculator you can now fill in your investment amount, choose the tenor and your payout option. You will be able to see your interest rate, interest and the maturity amount, thus simplifying the task, making it quicker and easier while offering reliable results.
Benefits of the fixed deposit interest calculator
Using the Bajaj Finance Fixed Deposit calculator offers investors several benefits, which include:
Calculating the interest through the manual formula is prone to human error. This online calculator automatically processes the inputs and gives accurate results.
Manual calculations may take time as one is required to convert values and follow the formula accurately. On the other hand, the fixed deposit interest calculator is quick and provides speedy results.
The Bajaj Finance Fixed Deposit calculator helps in financial planning as the information displayed is always accurate. It is key to making the right decisions based on the objectives. The interest rates vary according to the investment tenor selected. A longer tenor fetches a higher interest rate.
Investors can choose to either opt for cumulative or non-cumulative fixed deposits. Bajaj Finance offers this feature, but the interest rate varies based on the payout mode opted for by investors. For a non-cumulative fixed deposit, interest payouts are made monthly, half-yearly, or annually. The FD calculator accurately showcases the interest payouts for these modes, allowing investors to make the right decisions.
The digitalisation of the financial sector has simplified investing, and investors can get started with just a few clicks. Booking with Bajaj Finance is also simple and can be completed in minutes. Investors can invest online by filling out a simple form and can use UPI or net banking to complete the process.
