Bajaj Finance gives customers the option to choose between two payout options – cumulative and non-cumulative. The interest rate and the gains earned are impacted by which one of the two is selected.
Non-cumulative scheme
In Bajaj Finance’s non-cumulative fixed deposit scheme, the interest is payable monthly, quarterly, half-yearly, or yearly, depending on the customer’s preference. The system is convenient for individuals who require periodic interest payouts to meet routine expenses.
Cumulative scheme
In Bajaj Finance’s cumulative fixed deposit scheme, the interest is payable at the time of maturity along with the principal and is compounded annually. This scheme is suitable for individuals who do not require periodic interest payouts.
It is vital to determine your needs before choosing either of the two payout modes. Bajaj Finance FD calculator can help you plan your investments by forecasting your returns based on the deposit amount selected, tenor and payout frequency.