talking about Fixed deposits Fixed Deposit calculator are financial instruments that can steer your investments without exposing them to risks. Fixed deposit investment is consider one of the best high-return investments, especially in the fixed income category, because it offers high-interest rates and compounds your return over a fixed tenor.
Besides this, one can easily predict the fixed deposit investment returns on their own without much inconvenience with the help of a fixed deposit calculator available on the websites of most banks and finance companies.
In addition to the principal amount and investment period, the Fixed Deposit calculator accepts input values such as the customer type and the Fixed Deposit type and provides a precise estimate of the maturity amount and interest.
Table of Contents
List below are step-by-step processes to calculate the Fixed Deposit amount using the FD calculator
Visit the Fixed deposit calculator webpage
Find out which corporate, bank or postal Fixed Deposit fits the best with your investment strategy, and then visit the FD calculator page of that particular financial institution.
Mention the required figures
Enter the investment amount, Fixed Deposit type, tenor, and tap on the ‘Calculate’ button to proceed.
Check your returns
In the next step, the Fixed Deposit calculator will show you the FD return and interest that a particular FD plan will offer you at maturity. When you are not satisfied with the results, you can either change the input values or use the Fixed Deposit calculator of another financial institution.
The main advantage of using an FD calculator is that it will provide you with the exact interest rate you will pay base on the FD type and tenor you choose. One of the most important factors you should know before investing in a fixed deposit is that the fixed deposit interest rates offer by banks may not meet your expectations.
Make your investments grow without a break
Now you can grow your investments without taking a break regarding auto-renewal options. Additionally, you can choose to invest your savings in a number of FDs simultaneously. Choosing different tenors for each deposit enables you to have the flexibility of withdrawing some of the funds when you need them.
Tools for smart investing (Fixed deposit calculator)
You can plan your investment strategies according to your financial needs by choosing a tenor that spans 12 to 60 months. With an online Fixed Deposit calculator, you can calculate your exact returns at maturity and what kind of investment you need to attain your investment goals.
Process of seamless investment
The online FD form and easy documentation process offer by the bank allow you to invest in a fixed deposit plan without spending too much time on it. It is even possible to make the payment online through net banking or UPI. You will be offered a 0.10% bonus whenever you invest in an FD online.
The FD rate for seniors is 0.25% higher than the rate for others. Combine with the ability to withdraw interest earnings, they will no longer need to worry about their regular expenses.
Investing in a fixed deposit plan is a good idea as it ensures that your money remains free from market risk and thus safe from inflation. In addition, a higher interest rate could help you achieve your financial goals without experiencing any stress. A Fixed Deposit Calculator is easily available online these days that will allow you to make a wise decision regarding the tenor and amount of your FD.
Benefits of Fixed deposit calculator
The following are some advantages of using an FD interest calculator:
- By calculating maturity amounts accurately, you can choose the most suitable tenure for your deposit.
- Calculate the best interest rate from various banks and compare it to choose your deposit bank.
- Make sure every calculation is accurate and avoid errors.
- The maturity amount can be calculate much faster with a calculator than by using a spreadsheet or a digital calculator.
- Comparing the maturity amounts can help you make better choices about renewing fixed deposits.
Conclusion
The interest rate on a fixed deposit is usually higher than the interest rate on savings accounts. As a result, it is better to invest in a fixed deposit rather than leaving your money in a savings account. Nevertheless, investors must consider other investment options that provide a higher return than a fixed deposit. With a fixed deposit calculator,
it is possible to calculate the maturity amount of your fixed deposit based on your deposit’s for a specific period. In addition to being simple, the fixed deposit calculator can help you compare different interest rates from various banks