When using the Bajaj Finance Fixed Deposit Calculator, you may have seen the option for cumulative and non-cumulative payout options, which determine your interest rates and maturity values. Read on to know more about these schemes:
Non-cumulative Scheme
In Bajaj Finance 'non-cumulative’ Fixed Deposit scheme, the interest is payable on a monthly, quarterly, half yearly and yearly basis. The scheme will be convenient for an individual who requires a periodic interest payout.
Cumulative Scheme
In Bajaj Finance '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 an individual, who does not require periodic interest payment and acts as a money multiplier scheme.
When selecting the right values on our FD Calculator, it is important to determine your own needs and choose the right option accordingly.