One of the best advantages of investing in fixed deposits is that you can know the exact returns that you’ll receive, even before investing. A fixed deposit interest rate calculator is a great tool that assists you to make the right investment decisions.

An FD interest rate calculator in India works with the following parameters:

  • Principal: This is the base amount which you will put in the fixed deposit.

  • Tenor: The time period of your investment is called the tenor.

  • Investment type: Your interest rate will also depend on the type of investment you go for, i.e. a cumulative or a non-cumulative fixed deposit. Cumulative investments give higher interest as they allow only a single interest payout, which is at the time of maturity of the investment. Non-cumulative FDs allow you to choose from monthly, quarterly, half-yearly and yearly interest payouts.

  • Customer type: Are you a new or an existing customer of the fixed deposit provider? Are you a senior citizen? These factors will also affect your FD rates in India. For example, regular investors can get up to 7.80% interest with a Bajaj Finance FD but senior citizens get an additional 0.25% on this.

  • Formula to calculate interest rate and maturity amount of an FD

M = P (1 + r/n) ^ (nt)


M stands for Maturity amount;

P is Principal or Deposit amount;

r is the Rate on interest;

n is the Number of times the interest is compounded;

t is the Tenor.

A fixed deposit interest rate calculator in India uses this formula; so you just need to enter the values like principal, tenor, investment type and customer type. You can enter different values and check how much you should invest for how long to fulfil a particular financial goal. With a Bajaj Finance FD, investors can avail high interest rates which go up to 8.05%.

  • How to get the best FD rates in India?

To benefit from the best FD rates in India, you should invest with a Non Banking Financial Company or an ‘NBFC’. NBFCs provide 1% to 2% higher returns than Bank FDs. Unlike bank FDs, they are not heavily impacted by market fluctuations and REPO rate cuts imposed by the RBI. Resultantly, investors get high returns on long term as well as short term investments. With some of the best FD rates in India, Bajaj Finance FD is also the only Indian NBFC to provide a Systematic Deposit Plan. This allows an investor to make small, monthly contributions to his fixed deposit. Interest is earned separately on each of the deposits. A Systematic Deposit Plan also allows for premature withdrawal just like a regular fixed deposit investment. There is no penalty if a monthly deposit is missed.

Below are the Bajaj Finance Fixed Deposit interest rates for new customers. Senior citizens earn an additional 0.25% whereas existing customers are eligible for an additional 0.10% interest rate.

Annual rate of interest valid for deposits up to Rs. 5 crore (w.e.f 05 March 2020)
Tenor in Months Minimum deposit (in Rs.) Cumulative Non-Cumulative
Monthly Quarterly Half Yearly Annual
12 – 23 25,000 7.60% 7.35% 7.39% 7.46% 7.60%
24 – 35 7.65% 7.39% 7.44% 7.51% 7.65%
36 – 47 7.70% 7.44% 7.49% 7.56% 7.70%
48 – 60 7.80% 7.53% 7.58% 7.65% 7.80%


Along with India’s highest stability ratings (CRISIL’s FAAA / Stable rating and ICRA’s MAAA/Stable rating), Bajaj Finance FD has an international rating of ‘BBB’ by S&P Global, the only Indian NBFC to have this. Such stability ratings assure investors of safe investments and guaranteed returns.