Bajaj Finserv FD Calculator
About Bajaj Finserv
Bajaj Finserv was established in April 2007 after its demerger from Bajaj Auto. The organization has kept its earlier intention to help out all customers by shifting its focus to financial services.
Bajaj Finserv is run independently. The organization provides lending, protection, and savings services to all its customers. As of now, there are millions of customers attached with Bajaj Finserv.
Most customers prefer to invest in Bajaj Finance fixed deposits because of the competitive interest rates. Bajaj Finserv provides safety and stability of the principal amount and also ensures the steady growth of that amount. Customers also get a lot of flexibility in terms of the period of fixed deposit, amount, and interest rates.
Read more: Bajaj Finserv Fixed Deposit Scheme
Features of Bajaj Finance FD Rates Calculator
The Bajaj finance fixed deposit calculator will not just allow customers to calculate the final earned interest amount but it will also make it easier for one to plan their financial future. The calculator puts the customer in the center seat and gives them the information that they need to make the best financially beneficial and sound decision for themselves.
Further, the Bajaj Finserv fixed deposit calculator is very easy to use. This means that you can find quickly calculated values without any hassle. Beyond this, the calculator is also updated regularly which will ensure that you will only get the correct data every single time.
Bajaj Finance Fixed Deposit Interest Rates 2021
The interest rates by Bajaj Finance for fixed deposit schemes are given below.
|Tenure||Minimum Deposit||Cumulative||Non-Cumulative Monthly||Non-Cumulative Quarterly||Non-Cumulative Half Yearly||Non-Cumulative Annual|
|12 months – 23 months||INR 25,000||8.35%||8.05%||8.10%||8.18%||8.35%|
|24 months – 35 months||INR 25,000||8.40%||8.09%||8.15%||8.23%||8.40%|
|36 months – 60 months||INR 25,000||8.70%||8.37%||8.43%||8.52%||8.70%|
Benefits of Bajaj Finance FD Calculator
The different benefits that you can get if you use the Bajaj finance fixed deposit calculator are mentioned in the list given below.
- Access to higher interest rates for senior citizens
- Plan your financial future in a more effective manner
- Start investing in a fixed deposit with a minimum amount of only INR 25,000
- Access to highly stable and credible investing services
- Brings an individual one step closer to flexible FD tenure, assured returns, and the multi deposit facility
- Ability to get a loan against the fixed deposit
- Get access to the most competitive interest rates in the entire market
Types of Bajaj Finserv FD
The different types of Bajaj Finserv fixed deposits for which you can use the Bajaj FD calculator are:
- Fixed deposit for senior citizens
- Tax saver fixed deposit
- Fixed deposit scheme for the general public
Eligibility for Using Bajaj FD Calculator
You can check whether you are eligible for using the Bajaj FD calculator by going through the eligibility criteria given below.
- Interested in investing in a Bajaj fixed deposit
- Resident Indian citizen
- Hindu Undivided Family (HUF)
- Family trusts
- Sole proprietorships
- Partnership firms
- Group companies
How to Calculate FD Interest Using Bajaj Fixed Deposit Calculator
Using the Bajaj FD calculator is very simple. And the steps that you should follow for using the Bajaj FD calculator are given below.
- Open the calculator on the official website
- Fill in all the required details including fixed deposit tenure, age, and the amount that one wants to invest
- Click on calculate
- Read the amount that you get and start planning for a more financially secure future!
Factors Affecting Bajaj FD Calculator
If you have been interested in purchasing a fixed deposit scheme, then you must have observed that the interest rates often tend to fluctuate. This is because of the fact that there are several factors that influence the Bajaj fixed deposit calculator and interest rates. Some of these factors are:
- Fixed Deposit Tenure: The interest in the fixed deposit schemes depends a lot on the policy period that has been selected for the fixed deposit. Usually, interest rates are higher for fixed deposits that have a period of over 15 months.
- Total Amount Invested: The total amount of money invested in a policy is directly related to the amount of interest earned that one would get. Customers can open a fixed deposit account with a minimum amount of INR 25,000.
- Age of the Investor: The age of the investor plays a very big role in determining the rate of interest on the fixed deposit. Senior citizens also get a higher interest rate in comparison to the general public for fixed deposit schemes.
- Prevailing Economic Conditions: The current economic conditions of the country have a huge impact on the interest rates applicable on fixed deposits. Apart from this, monetary and fiscal policy also plays an important role in the calculation of the interest rate.
What are the eligibility criteria for investing in a Bajaj Finserv fixed deposit?
If one wants to invest in a Bajaj Finserv fixed deposit, then he or she must be a resident individual over 18 years of age on the date of application. It should be noted that non-resident individuals, overseas citizens of India, persons of Indian origin, and sole proprietorships are not allowed to invest in a Bajaj Finserv fixed deposit.
What are the interest payout options available on Bajaj Finserv fixed deposit schemes?
The different interest payout options available on Bajaj Finserv fixed deposit schemes are:
#Monthly Option: In this case, the interest payout is processed at the end of every month. The first interest is paid at the end of the subsequent month in which the fixed deposit was procured
#Quarterly Option: In this case, the interest payout is processed on June 30, September 30, December 31, and March 31
#Half Yearly Option: In this option, the interest payout is processed on September 30 and March 31
#Annual Option: In this option, the interest payout is processed on March 31
Is there any penalty for closing Bajaj FD prematurely?
No penalty is charged for closing the Bajaj fixed deposit prematurely if it is done within 6 months. After that, 3% lower than the rate specific for the deposit period is charged till 12 months. And after 12 months, 2% lower than the interest rate specified for the fixed deposit is charged.
My Bajaj Finserv fixed deposit has matured. How will I get the maturity amount?
The maturity amount is automatically credited to the registered bank account as soon as the fixed deposit matures.