Think of a scenario where you can just sit and relax as your money grows in the background safely and without any risk. Well, no matter how unrealistic it sounds in today’s world, where instead of saving money, you instead lose money over time due to inflation and numerous other factors, it is possible to do so with the help of fixed deposits.
But what is this magical form of investment, and how is it so safe? How much money can I make by keeping my savings invested in an FD? Well, keep reading to find the answers to these questions and more!
What is a fixed deposit?
FDs, or fixed deposits, are a form of investment in which an individual can deposit a lump sum of money for a fixed period. After the maturity of the deposit, investors can withdraw a pre-determined sum of money regardless of the interest rates at that point in time. This protects individuals from market-related risks, and since FDs are offered mainly by established banks, the potential risks of losing money are pretty low.
With a fixed interest rate, the investor receives the principal and compound interest when the investment matures. The investor may receive the interest monthly, quarterly, or annually, depending on the investment plan. Also, one can select different tenure options while considering their financial purposes.
What are FD calculators?
FD calculators are straightforward yet powerful tools which can help calculate the returns on investment one can expect by investing in FD. They unravel the complexity of the investment market and help one make informed decisions about their money. This helps simplify how FD works and helps investors accurately determine what returns one gets for certain investments.
Objective: It helps realise the full potential of an FD investment by showing maturity amounts and interest earned, enabling investors to judge and invest their money accurately.
How it works: Input the principal amount you want to invest, interest rates, tenures, and compounding frequencies, and let the calculator do the rest.
Why are FD calculators essential?
The calculator tool is beneficial to investors and essential in helping them make informed decisions. Here are some of the reasons why consulting FD calculators is necessary before investing:
- Compare different premiums, investment durations, interest rates, etc., to determine the best plan for your investment.
- Accurately planning for sure financial futures such as school fees, marriage, buying a home, home renovation, etc.
- Ease in ensuring maximum returns
What are some advantages of an FD calculator?
What are the advantages of using the best FD calculators for projections, wealth management, and wealth planning:
- Accurate projections: Calculators help give correct projections about the maturity amount and the interest earned, supported by apt calculations.
- Intelligent decisions: An FD calculator from a reliable source such as Bajaj Finserv can help one find the best FD online and make informed decisions that maximise one’s returns, ensuring peace of mind.
- Staying ahead: The competitive gain given through FD calculators is the key to staying ahead and gaining success.
- Flexibility: The FD calculators come in one package with comparison tools, allowing a person to assess various investment options.
- Goal-oriented: The FD calculators facilitate setting both short—and long—term goals and provide a clear rationale for investment success.
How do you use the FD calculator?
- Download the app from the App Store or Play Store.
- Sign up after entering your mobile number
- On the home page, you will see an icon for Fixed Deposit.
- Click on it and use the in-built FD interest rates calculator to simulate different situations by changing the customer type, deposit amount, tenure, and interest payout frequency.
- This will help you make the best decision and get the best return on your investment.
- Once you are satisfied with it, click the “Invest Now” button on the FD page.
- Fill in those values, and you are good to go.
Conclusion
FD online calculators have gone a step further in easing the whole process of investing through apps and websites. FD online calculators, such as those from Bajaj Finserv, help individuals make wise investment decisions. They provide instant results, thus making planning a no-brainer task. They are easy and convenient and help in making informed decisions. While there are several calculators available online, we recommend Bajaj Finserv FD calculators to ensure accuracy, instant results, and wholesome support.
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