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Bajaj Finance FD Calculator

Bajaj Finance Fixed Deposit Interest Calculator

Last Updated 19th Jul 2021

Bajaj Finance FDs have tenures ranging from 36 months to 60 months with maximum rate of interest of 6.50%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.75%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
12 months to 23 months 5.65% to 5.90% ₹ 1,05,771 - ₹ 1,11,880
24 months to 35 months 6.10% to 6.35% ₹ 1,12,871 - ₹ 1,20,172
36 months to 60 months 6.50% to 6.75% ₹ 1,21,341 - ₹ 1,39,750
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Bajaj Finance Fixed Deposit Calculator

Bajaj Finance fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Bajaj Finance. Bank may allow higher interest rate on larger deposits. Bajaj Finance offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Bajaj Finance offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Bajaj Finance is 6.50% for deposit amount below Rs. 5 crore corresponding to a deposit tenure of 36 months to 60 months.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 5.65% for a 36 months FD and a rate of 6.50% for a 60 months FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 360 days at an interest rate of 5.65%. In this case, the maturity amount at the end of 360 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Bajaj Finance calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Bajaj Finance Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Bajaj Finance would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Bajaj Finance cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in Bajaj Finance depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Bajaj Finance FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Bajaj Finance FD.

Suppose if you make an investment of ₹ 1,00,000 in Bajaj Finance FD for a 5-year tenure at an interest rate of 6.50% for depositors below 60 years and 6.75% for senior citizens. The maturity amount for this deposit amount is ₹ 1,38,042 and the total interest earned is ₹ 38,042 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 39,750 which is higher. The maturity schedule of Bajaj Finance FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 6.50% for Citizens below 60 years and at 6.75% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2021 ₹ 3,276 ₹ 1,03,276 ₹ 3,403 ₹ 1,03,403
2022 ₹ 6,878 ₹ 1,10,154 ₹ 7,158 ₹ 1,10,561
2023 ₹ 7,336 ₹ 1,17,490 ₹ 7,654 ₹ 1,18,215
2024 ₹ 7,825 ₹ 1,25,315 ₹ 8,184 ₹ 1,26,399
2025 ₹ 8,346 ₹ 1,33,661 ₹ 8,750 ₹ 1,35,149
2026 ₹ 4,379 ₹ 1,38,040 ₹ 4,600 ₹ 1,39,749

Bajaj Finance FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Bajaj Finance FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

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What is the highest interest earned on Bajaj Finance fixed deposit?

You can earn a maximum interest of 6.50% on Bajaj Finance fixed deposit.

How is Bajaj Finance FD interest calculated?

The formula to calculate interest on Bajaj Finance FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Bajaj Finance?

The growth of Bajaj Finance FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Bajaj Finance FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in Bajaj Finance.

What are the minimum and maximum amounts that I can invest in an Bajaj Finance FD?

The minimum investment limit in Bajaj Finance Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

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Bajaj Finance News - Jul 2021
  • 2021-03-22 : Revised fixed deposit rate for Bajaj Finance
    Bajaj Finance hiked its fixed deposit rates for the month of March. The FD rate for 12 to 23 months now stands at 6.15%, for 24 to 35 months it is 6.60%. Further, the fixed deposit rates for 48 to 60 months is 7%. The FD interest rates for senior citizens are in the range of 6.40% to 7.25%.
  • 2020-03-05 : Bajaj Finance revised its FD rates
    Bajaj Finance changed its FD rates. The FD rate for 12 to 23 months is 7.60%, for 24 to 35 months it is 7.65% and it is 7.70% for 36 to 47 months. Further, the fixed deposit rates for 48 to 60 months is 7.80%. The revised rates are in effect from 5 March 2020.
  • 2019-12-06 : Bajaj Finance revised FD Rates
    With effect from December 7, 2019, Bajaj Finance is set to revise its interest charges on fixed deposits. The revised rate for 12-23 months is 7.60%, the rate for 24-35 months is 7.90%, and for 36-60 months, the rate is 8.10%. Further, for senior citizens, the rates vary by 25 basis points and thus are 7.85%, 8.15%, and 8.35%, respectively, for 12-23 months, 24-35 months, and 36-60 months.
  • 2019-10-29 : Bajaj Finance earns revenue worth Rs 1204 crores in the second quarter
    Bajaj Finance declared that its net profit increased to 71 percent to Rs 1204 crores and its total income rose to Rs 14,224 crores. The Bank claims that it earned a large revenue from interests earned on deposits and from retail financing on home and personal loans.
  • 2019-09-03 : Revised FD rates for Bajaj Finance
    Bajaj Finance has revised its FD rates with effect from September 3, 2019. The revised interest rate for a tenure of 12-23 months is 8 percent; for a tenure of 24-35 months the rate is 8.05% and the rate of interest for 36-60 months is 8.35%. Also, the rates for senior citizens are revised, which vary by 35 bps.
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