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How to Make the Use of the FD Calculator Online?

Market-linked instruments can be challenging to predict, significantly when global forces interact with local indices. With a fixed-income instrument like the Fixed Deposit, investors can forecast their earnings precisely. There is also an online FD calculator to help investors plan for their future aspirations.

It’s free, simple to use, produces instant results, and can be accessed via the internet and a web browser. Here’s how investors may rapidly determine the return on their FD investment.

How to use FD calculator

This FD interest calculator determines your returns based on your investment amount, selected tenure, and fixed deposit interest rate. The fixed deposit interest calculator is available on any digital device and is free to use. Continue reading to learn how to utilise the fixed deposit interest calculator.

Follow these simple steps to utilise our fixed deposit interest calculator:

  • Go to the FD calculator’s official website.
  • Choose between ‘Senior citizen’ and ‘Customer under the age of 60.’
  • Enter the amount and term of the investment.
  • Choose from ‘On maturity,’ ‘Monthly,’ ‘Quarterly,’ ‘Half-yearly,’ or ‘Yearly’ as your chosen payout mode.

Some of the benefits of the FD calculator are:

Instantly obtain FD returns

The first step in computing FD returns is to use an online FD calculator. Select Senior Citizen or Customer under the age of 60 as your next option. Enter the investment amount and tenor (or use the slider) afterwards. After entering these parameters, the calculator calculates the proper FD rate and displays the interest earned and maturity amount.

Earn higher interest on your FD

Investors who use the Bajaj Finance FD calculator will quickly notice that consumers under the age of 60 can earn up to 7.20 per cent per year. On the other hand, senior citizens benefit from a 0.25 per cent annual FD rate increase, resulting in a net FD rate of up to 7.45 per cent each year.

Reduce the possibility of human error in manual calculations

A fixed deposit interest calculator is convenient, but it is also automatic. There’s a chance you’ll make a mistake when manually calculating your earnings. Furthermore, using the manual approach takes time and can be tedious. You don’t have to calculate anything with the FD calculator. Fill in the data fields with the needed information. There is minimal opportunity for error, and you can trust the results.

Find the best time to invest to meet your objectives

Your maturity amount is determined by several criteria, including the length of your investment. Finding the right tone might help you maximise your profits. Adjusting the tenor is possible with a fixed deposit interest calculator. Manually changing the tenor will help you identify the best one with a clear maturity objective. Bajaj Finance offers tenors ranging from 12 to 60 months, offering you plenty of options for investing.

A fixed deposit interest calculator can also show you how your returns are affected by the payout mode. A fixed deposit might be either cumulative or non-cumulative. Non-cumulative FDs provide periodic interest payments, while cumulative FDs provide a return at maturity.

Compare various FD deals to find the most profitable one

It would help if you compared various offerings before making an investment decision. You can use a fixed deposit calculator to estimate your earnings for different fixed deposit interest rates, tenors, and investment amounts. Comparing the returns on several deals will help you choose the best possibilities. Some offerings may be more suited for the short term, with lesser long-term profits. By comparing the various options, you can determine which one is the most advantageous for your financial goals.

An FD calculator is a great financial tool that helps you choose the right investment option that will help you earn higher returns. To shorten your FD investment process, you can complete your CKYC and apply for the FD of your choice.

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