Plan your Investments using Fixed Deposit Calculators
Fixed Deposit plans offered by banks and corporate entities are both popular fixed-investment options in India. Low-risk profiles and guaranteed returns are the reasons for their popularity. However, you shouldn’t just deposit idle funds into fixed deposits. Fixed Deposits are a type of long-term investment that allows investors to save money for the long term by making regular deposits. Investors have the option of selecting a fixed term for which the deposit will be held at the bank.
For the most part, fixed deposit investments are preferable to savings accounts for those seeking long-term wealth accumulation because they pay higher interest rates than savings accounts. Making the best investment decisions can help you protect your FD money.
FD Calculators Overview
Calculate the maturity amount of a fixed deposit for the specified amount and interest rate at the end of a chosen tenure with an investment calculator.
Fixed deposit investment calculator help users calculate how much interest they will earn on a fixed deposit. The maturity amount is calculated by combining the deposit amount, FD interest rate, and FD tenure. Maturity is the amount a person receives at the end of the term of an FD. This is the total amount earned from interest on the principal.
- You can use FDs as collateral when taking out loans. You can borrow up to 80-90% of your FD amount.
- In the event of maturity, the depositor can transfer the funds for a further Fixed Deposit.
- Money can only be deposited once. When money is deposited into an account, it is subject to a penalty if it is withdrawn.
- FD schemes are good investments for people who have surplus funds they wish to invest in.
- You can use online fixed deposit investment calculator to know the maturity amount.
Benefits of using the FD calculator
Investing in an FD involves ticking off one’s budget and making sure it aligns with the individual’s broader financial goals, just like any other financial decision.
Investments in the market such as Mutual funds carry considerable risks. The risk is minimized with a fixed deposit, and the return is guaranteed. If you have losses on your FD investment, they can be absorbed up to a certain point. You need to know how much to deposit into your FD account for this. Fixed deposit interest calculator can be used to estimate this easily.
In addition, FD investment calculator can be used to compare the various FD schemes offered by various government or private banks or non banking financial institutions. With this information, one can understand which scheme can provide the best returns.
Listed below are a few benefits of using the online FD investment calculator tool
- It is an automatic calculator, so there is no scope for error.
- By minimizing cumbersome calculations at multiple tenures, amounts, and rates, time and effort can be saved.
- As the FD investment calculator tool is free of cost, customers can compare rates, tenures, and amounts for different FD combinations multiple times.
The interest rate on a fixed deposit is higher than that on a savings account. Therefore, it is better to invest in a fixed deposit than keeping your money in a savings account. Investors should also consider other investment options that offer higher returns than a fixed deposit. Other investment options include tax-saving mutual funds and debt mutual funds. In addition to the higher returns, market fluctuations also come with these options. Due to this, fixed deposits are considered among the safest investment options.