By investing in a fixed deposit scheme that allows you to access the latest FD features, you can try to maximize your returns. One such fixed deposit scheme is offered by Bajaj Finance. This FD scheme comes with one of the highest FD interest rates in India. Also, its advanced set of features helps you to reap more benefits.
For instance, you can calculate the returns of an FD by using an FD calculator. An online FD calculator is provided by Bajaj Finance as well. It helps you to calculate the interest earnings and also provides a clear picture of where your investments will stand after completing their due tenor.
Some of the other uses of this FD calculator are given below:
Estimate returns accurately
The FD calculator allows you to estimate the FD returns precisely. You must use this FD calculator as it selects the applicable interest rates as per the customer category you choose.
For example, senior citizens get 0.25% higher interest rate whereas others get 0.10% additional FD rate on choosing the online investment method. An online FD form is also available that you can utilize to invest in this FD plan without stepping out.
Assists in decision making
As an FD calculator shows the interest gains and returns as per the amount, FD tenor, and FD type you select, you can utilize it to analyze the better FD plan as per your financial needs and requirements.
Also, the Bajaj Finance FD interest calculator calculates the interest earnings and returns of both cumulative and non-cumulative FDs at once. Therefore, it assists you to make decisions quickly based on your needs.
Helps future planning
You can also use this online tool to analyze how your returns grow or decrease as you change the tenor and deposit amount. Therefore, you can understand how much you need to invest and the tenor you need to pick to get the required returns.
Some noteworthy features of Bajaj Finance FD are listed below:
- A secure investment
As Bajaj Finance FD has received FAAA/stable ratings from CRISIL and MAAA/stable ratings from ICRA, you can invest in its FD plans without any apprehensions.
- Easy to start an investment
A minimum deposit amount of Rs. 25000 is sufficient to start an FD investment. Therefore, anyone can invest in its FD plans without depositing a huge corpus.
If you want to deposit every month then you can invest in its SDP (Systematic Deposit Plan). This deposit plan allows you to start an investment by depositing only Rs. 5000 or more every month as per your needs.
A maximum of 60 months can be selected as tenor for each deposit and the total number of deposits can range from 6 to 48 months. Or else, you can choose a single date on which all your deposits will mature. As a result, SDP proves to be beneficial for those who don’t want to invest a bulk amount at once.
- Flexible lock-in period
A flexible lock-in period from 12 to 60 months can be selected for your deposits. This flexible tenor along with its multi-deposit facility will help you to split your investment into several FD schemes at once.
As you will be able to choose a different tenor for each deposit, you will have multiple liquidity points at hand. This will take care of your short term fund requirements as well. A part of the returns can be consolidated in a long term cumulative FD to obtain steady returns for achieving your long term financial goals.