How To Use A Fixed Deposit Interest Rate Calculator in India? - SceneLinkList - Read Latest Articles Daily!

SceneLinkList - Read Latest Articles Daily!

SceneLinkList is your one-stop source for the most recent worldwide news and information! Contact us to contribute.

Home Top Ad

Contact Us For Advertising Here

Post Top Ad

Your Ad Spot


19 July 2020

How To Use A Fixed Deposit Interest Rate Calculator in India?

A fixed deposit provides a great option for those who want to earn high returns without subjecting their investments to risks. By investing in an FD, you can either opt for the entire interest payout at maturity or periodic interest payouts.

The interest is compounded quarterly by banks and finance companies. When you invest in a cumulative Fixed Deposit, the interest is compounded till the maturity whereas you will not receive the benefits of compounding if you invest in a non-cumulative FD with a monthly or quarterly interest payout. However, non-cumulative FD is ideal for those who wish to earn a regular income from their FDs.

The easiest way to find out the interest provided by an FD periodically or at maturity is by using an FD calculator. Financiers have their own FD interest rates calculator that you can find on their respective websites.

An FD calculator is useful because it saves you time and provides accurate results. Moreover, it can also be used to explore and compare the interest rates of different FD plans.

The FD calculator from Bajaj Finance displays the interest and FD maturity value of both cumulative and non-cumulative payouts with the same deposit amount and tenor simultaneously. It helps you to make a well-informed decision as per your financial requirements and goals. Follow this simple process to use this FD calculator:

Enter values like investment amount and tenor but before that choose your customer type. Also, choose whether you want to invest in a cumulative or non-cumulative FD.

Once you provide all the required values, the calculator will automatically display the interest and final maturity value that you will receive at maturity.

A fixed deposit interest rate calculator enables you to determine the exact value of your investment and proves to be helpful for those who want to plan their investments carefully. It also helps you to compare several FD plans by using the online medium.

Some banks and NBFCs even provide an online FD form that helps you to invest in an FD conveniently. For example, Bajaj Finance not only supports the mode of online application but also provides a 0.10% additional interest rate for those who use this option. These are the other benefits of investing in a Bajaj Finance FD:

Fixed Deposit High-interest rates

A high-interest rate of up to 7.35% helps you to get better returns after investing in an FD. This is much higher than bank FD rates and even post office FD interest rates (currently up to 6.7%). The option of reinvesting the returns in the same FD is also provided, with an additional rate benefit of 0.10%. Reinvesting your returns at a high rate will help you to build a huge corpus in a short time.

Fixed Deposit Start investing early

The minimum deposit amount is Rs. 25,000 which means that even those who have just started earning can invest in these FDs. Also, if you do not want to invest in a huge lumpsum, you can start investing in small monthly deposits with the Systematic Deposit Plan. This plan allows you to make monthly deposits of Rs. 5000 or more in a disciplined way. You can make 6 to 48 deposits and the tenor of each deposit can be up to 60 months as per your choice. Each FD earns interest at the FD rate that is prevailing on the deposit date. An SDP calculator is also provided to predict the returns precisely.

Fixed deposits help you to earn at a high-interest rate while ensuring the safety of your invested capital. However, it is also important to predict the actual value of an FD that you will receive at maturity. Since the interest calculation method differs as per the FD type you choose, you can use an FD calculator to estimate the interest and final maturity value. Bajaj Finance provides an FD calculator that provides the interest and maturity value of both cumulative and non-cumulative FDs simultaneously. You also get a lucrative interest rate of up to 7.35% by investing in these FDs. The option of earning through monthly deposits can be availed by investing in an SDP

Post Top Ad

Your Ad Spot