How Does The FD Calculator Help In Future Financial Planning?

Growing Your Savings with an FD Calculator

A fixed deposit (FD), undeniably, is the best investment option for the middle-income group in India. The amount you invest in an FD remains immune from market volatility and generates a guaranteed return. Fixed deposits, as a result, is an efficient way to park your savings, since is offers a steady growth sans any risk. But before investing in an FD, it is important to know the amount you can expect to earn at the end of the duration. An FD calculator India is best tool in this regard.

Comparing between various FD schemes

Spend some time in researching your options before you invest. This, however, is often cumbersome and time-consuming if you don’t have the right tools. The FD amount calculator eases your pains. Simply key in the amount you wish to invest, the duration, and the FD calculator India will display the total amount at maturity. You can compare between the various FD schemes being offered by banks and non-banking financial companies (NBFCs). For instance, Bajaj Finance FD is currently offering a maximum of 7.35% interest on its FDs, with senior citizens earning an extra 0.25% over and above the promised rate.
Forecast your returns

The most important reason why people use an FD calculator India is that it forecasts the return. This is particularly helpful if you plan to buy a car or meet a planned expense like your children’s higher education or their marriage. Since returns are assured, simply enter the relevant values in the FD amount calculator and get to know what’s in store for you at maturity. You can accordingly choose the right principal and investment tenure to address your goals.
  • Keeping track of changing interest rates 
An FD calculator displays the interest rate applicable to a particular FD investment plan. Once you book an FD, its interest rate remains the same for the entire tenor but you might not get the same FD rate if you decide to renew it. 
By using an FD calculator, you can keep track of the latest FD interest rates so that you can decide whether to reinvest in an FD or to invest the returns in a new FD. 
How to use the FD amount calculator?
Here’s how you can use an online FD calculator:
  1. Choose the customer category
  2. Choose the FD type
  3. For a non-cumulative scheme, choose the payment frequency
  4. Input the amount you want to deposit
  5. Choose the tenure (in months)
  6. Compare the returns being offered by various institutions
Ladder your fixed deposits

Laddering your FD is an efficient investment plan. It irons out premature withdrawals and associated costs, besides ensuring that you get the complete benefit from your investment. While investing, you must have a financial goal in mind. Start your FDs of varying tenures for each goal, so that you are not constrained of liquidity at the time of need. Use the FD calculator India to know how much you have to invest to cater to your particular goal.
Bajaj Finance FD offers multi-deposit facility. Here you can invest in multiple FDs at the same time via a single payment. These FDs could be of different tenures, maturity amounts and payout frequencies. In case you want to liquidate one deposit out of the multiple schemes, the remaining FDs remains undisturbed and you keep earning interest. 
The FD calculator India is the best tool to predict your earnings before you embark on an investment plan. Just fill up the online form and you start treading the path of secured returns.

Author Bio:

Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at HighlightStory.
How Does The FD Calculator Help In Future Financial Planning? How Does The FD Calculator Help In Future Financial Planning? Reviewed by Twinkle on 22:17:00 Rating: 5
Powered by Blogger.