How To Calculate Fixed Deposit Interest Rates in 2021?

 Calculate Fixed Deposit Interest Rates

To know which fixed deposit plan gives you more returns, you can use a fixed deposit calculator. It gives you the exact calculation of the interest gains and returns that you will get after depositing a fixed amount in a particular plan for a specific tenor. 

Most financiers provide a fixed deposit calculator on their portal these days. To use it for finding the interest offered by an FD plan, you can follow these steps:

Step 1: Enter your customer category 

Many financiers have created separate categories of customers as certain features and benefits are applicable to some specific categories. Therefore, you must enter your customer category correctly if you want to receive the benefits that are associated with it. 

Step 2: Enter amount and tenor 

You will also have to provide details like the deposit amount, tenor, and FD type you want to invest in. There are two types of FDs- cumulative FD and non-cumulative FD. 

Step 3: Calculating the interest 

Once you have provided all the above mentioned details to the calculator, you can press its ‘Calculate’ button. The calculator will then show you the applicable interest gains and maturity amount precisely. 

If you have selected a non-cumulative FD then it will also show the amounts for the various interest payout options provided by the financier. Apart from calculation of interest, the FD calculator also lets you know whether a specific FD plan will meet your expectations or not. You can even use it to compare the FD interest rate offered by different financiers for different tenors. 

On using an FD interest rate calculator, you will find that the interest gains depend directly on the rate of interest. Therefore, you must look for a fixed deposit scheme that offers a high FD rate and other important features or benefits that you are seeking in an FD. 

For instance, Bajaj Finance FD comes with a high interest rate of up to 7.25%. Apart from providing high returns, this FD scheme also comes with following benefits:

Simple investment procedure 

Bajaj Finance gives you the option of opening an FD account online via its online FD form. It provides a complete end-to-end online process that also includes online submission of documents via the cKYC process. You also get 0.10% extra rate of interest on using the online investment procedure. 

The option of auto-renewing an FD once it matures is also provided in the form itself. This saves you from the hassles that you have to go through for renewing an FD. 

Minimal deposit amount 

Only Rs. 25000 is required to start an FD with Bajaj Finance. You can also invest by using a debit card in select locations. Its online FD calculator gives the exact calculation of both the FD types for the amount and tenor selected by you. 


If you don’t want to invest a significant sum of money at once in an FD then you can deposit your money in Bajaj Finance’s Systematic Deposit Plan. It allows you to start depositing Rs. 5000 or more every month and the number of deposits can fall between 6 to 48 as per your choice. Each deposit can be locked-in for up to 60 months or all your deposits can mature on a single date according to your convenience. 

Each deposit will act as an individual FD and will earn interest at an FD rates that was applicable on the date of deposit. With SDP, you don’t have to deposit a huge amount to gain the benefits of a fixed deposit. Moreover, Bajaj Finance FD has received high credit ratings from ICRA and CRISIL for securing the depositor’s money. This tells us that you can invest in its FD plans without any doubts. 

A fixed deposit calculator is used to predict the returns of an FD plan in advance. Therefore, it helps you to find out whether an FD suits your financial plans or not. To find what is the interest rate for fixed deposit, you can use an FD calculator. The interest rate determines the kind of returns you would be getting at maturity. Investing in a high-paying FD like Bajaj Finance FD would be a smart choice as it offers an interest rate of up to 7.25%.

Also, it provides the flexibility of choosing a tenor and FD type of your choice. The online investment procedure, minimal deposit amount, and the option of making monthly deposits by investing in Systematic Deposit Plan make it one of the best FD plans in 2021.

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