Step by Step Process to use a Fixed Deposit calculator Easily
A fixed deposit is a financial instrument that can steer your investments swiftly without subjecting them to any risks. As it offers high interest rates and compounds your returns over a fixed tenor, it is considered to be one of the high return investments, especially in the fixed income category.
Also, it is possible to predict the FD returns without much inconvenience as fixed deposit calculators are integrated on the websites of most banks and finance companies these days. A fixed deposit or FD calculator accepts input values such as the principal amount, investment period, customer type, Fixed Deposit type, etc., and provides a precise estimation of the maturity amount and interest. Check the below-given process to understand how to use it without any errors:
Step 1: Go to the FD calculator page
Determine which corporate, bank, or postal Fixed Deposit complements your investment strategies, and visit that the FD calculator page of that particular financier.
Step 2: Enter the required figures
Now, you just have to enter the figures of the investment amount, tenor, Fixed Deposit type, etc., and proceed further by tapping on the ‘Calculate’ option.
Step 3: Check the returns
After that, the Fix Deposit interest rates calculator will show the FD returns and interest that a particular FD plan will provide at maturity. If you are not happy with the results, you can change the input values or use the FD calculator of another financial institution.
One of the basic benefits of using an FD calculator is that it displays the exact FD interest rate that applies to the FD type and tenor you choose. Being one of the most important factors that you should know before investing in an FD, the fixed deposit rates offered by bank FDs might not meet your expectations today.
If you want to benefit from the safety provided by an FD to your deposits while enjoying uncompromised interest rates, you can go through the features of Bajaj Finance FD. Being one of the safest FD platforms that you can confirm by checking its credit ratings, it is also one of the high return investments as Bajaj Finance FD rates are as high as 6.75%. The other worthwhile features of Bajaj Finance FD are stated below:
Grow your investments without a break
With investment options like auto-renewal, you can now grow your investments without a break. You also have the choice to invest your savings in several FDs at the same time. This enables you to choose different tenors for each deposit and withdraw some of them when you need funds.
Smart investment tools
The tenor that spans from 12 to 60 months helps you to plan your investment strategies as per your financial needs. An online FD calculator shows the exact returns that you would get at maturity and lets you know the kind of investment you would need to attain your investment objectives.
Seamless investment process
The online FD form and easy documentation process offered by Bajaj Finance lets you invest in a fixed deposit plan without wasting any time. Even the payment can be done online through net banking or UPI. Also, a 0.10% will be provided to you for investing in an FD online.
Senior citizens get a 0.25% higher FD rate than others. This along with the option of withdrawing the interest earnings periodically means that they don’t have to worry about their regular expenses anymore.
Investing in a fixed deposit plan can be a good idea because it ensures that your deposits remain safe from market risks. Apart from that, a higher interest rate could ensure that you achieve your financial goals without any stress. The FD calculator that is easily available online these days, helps you to make a smart decision regarding the FD tenor and amount.
However, to earn well, you will need to concentrate your savings on a high-paying FD like Bajaj Finance FD. It offers the best FD interest rates in the market as you can grow your deposits at high FD rates of up to 6.75%. Also, the options like the auto-renewal of FDs, online investment process, flexible tenor, multi-deposit feature, etc. make it an attractive financial instrument for everyone.