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A Fixed Deposit remains one of the most preferred savings options in India due to its predictable returns and defined maturity value. However, final returns depend heavily on the inputs you choose. Even small changes in tenure or payout option can alter outcomes. That is why using an FD calculator correctly matters—especially when comparing rates across issuers and tenures. This guide explains the key inputs required to get accurate projections for your Fixed Deposit.
Why accurate inputs matter in an FD calculator
An FD calculator is only as accurate as the information entered. Selecting the wrong payout option, tenure slab, or customer category can lead to overestimated maturity values. This becomes critical when planning monthly income or goal-based savings. Correct inputs ensure fair, like-for-like comparison across Fixed Deposit options.
Principal amount you plan to invest
The principal is the base for all calculations. Enter the exact amount you intend to invest—for example, ₹1,50,000 or ₹5,00,000. Testing round figures but investing a different amount later reduces the usefulness of projections. Since interest is calculated on the principal, precision here is essential.
Deposit date and interest start date
While FD calculators usually assume immediate investment, the actual interest start date may depend on booking time and value date. If you are aligning maturity with a specific goal, ensure the tenure entered matches your intended booking date. This small detail improves projection accuracy.
Tenure selection and its impact on returns
Tenure slabs are often defined as 12–14 months, 15–23 months, and 24–60 months. Choosing 14 months instead of 15 months can shift the applicable rate. Your FD calculator output will match reality only if the exact tenure slab used for pricing is selected.
Matching tenure to cashflow goals
Tenure should align with your objective—not just the highest rate. For example, an FD meant for expenses due in 18 months should ideally not be locked for 24 months unless premature withdrawal is acceptable. Use the FD calculator to compare returns across nearby tenures and evaluate the trade-off.
Selecting the correct interest rate
Interest rates vary by tenure, payout option, and investor category. Always use the rate that matches your precise combination. Even a difference of 0.35% p.a. can significantly affect returns on larger deposits.
Senior citizen vs non-senior citizen
Senior citizens receive higher rates. Selecting the wrong category leads to inaccurate projections. Below are current applicable Bajaj Finance Fixed Deposit rates that can be used for projections.
Bajaj Finance Fixed Deposit rates – Senior citizens (60 years and above)
Tenure (months) | Cumulative (p.a.) | Monthly (p.a.) | Quarterly (p.a.) | Half-yearly (p.a.) | Yearly (p.a.) |
12–14 | 6.95% | 6.74% | 6.78% | 6.83% | 6.95% |
15–23 | 7.10% | 6.88% | 6.92% | 6.98% | 7.10% |
24–60 | 7.30% | 7.07% | 7.11% | 7.17% | 7.30% |
Bajaj Finance Fixed Deposit rates – Non-senior citizens (below 60 years)
Tenure (months) | Cumulative (p.a.) | Monthly (p.a.) | Quarterly (p.a.) | Half-yearly (p.a.) | Yearly (p.a.) |
12–14 | 6.60% | 6.41% | 6.44% | 6.49% | 6.60% |
15–23 | 6.75% | 6.55% | 6.59% | 6.64% | 6.75% |
24–60 | 6.95% | 6.74% | 6.78% | 6.83% | 6.95% |
Ensure your FD calculator inputs match the correct slab and payout option to improve accuracy.
Payout option and compounding frequency
Cumulative vs non-cumulative
A cumulative Fixed Deposit reinvests interest and pays a lump sum at maturity. A non-cumulative Fixed Deposit pays interest at monthly, quarterly, half-yearly, or yearly intervals. These choices materially affect final returns and must be selected correctly in the FD calculator.
Interest payout frequency
When interest is paid out periodically, it does not compound within the deposit. If you need regular income, ensure the calculator is set to the appropriate payout frequency. This input is essential for accurate cashflow planning.
Using FD ladders for liquidity
Instead of one large Fixed Deposit, splitting funds into multiple FDs with staggered maturities improves liquidity. Use the FD calculator to model maturity amounts across tenures and build a ladder that meets future needs without breaking the entire deposit.
Safety and taxation considerations
Bajaj Finance Fixed Deposits carry the highest safety ratings of ICRA AAA (Stable) and CRISIL AAA/STABLE, reflecting strong financial stability and repayment capability.
Interest earned is taxable under “Income from Other Sources.” As Bajaj Finance is an NBFC:
TDS at 10% applies if total FD interest exceeds ₹10,000 in a financial year
TDS at 20% applies if PAN is not provided
Eligible investors may submit Form 15G or Form 15H, subject to conditions
Conclusion
A Fixed Deposit offers transparent and stable returns only when projections reflect the actual product chosen. For accurate FD calculator results, enter the correct principal, tenure slab, investor category, payout option, and applicable interest rate. Also factor in taxation, TDS impact, and liquidity needs. If you are evaluating a Bajaj Finance Fixed Deposit, using the exact rates and payout options in your FD calculator ensures your maturity value and income estimates remain realistic and decision-ready.
Disclaimer: This is a sponsored article. It is not part of Outlook Money's editorial content and was not created by Outlook Money journalists.
