One of the better ways to earn through your savings is to invest in fixed deposit schemes. It is important for you to find fixed deposit schemes that offer an attractive interest rate because it is the interest rate that generates your returns at the end of the FD tenure.
To find which FD plans offer good returns, you can use an FD calculator. FD calculator is an online tool that can be easily found on the internet these days. Some financiers have included such calculators on their website as well. You need not be an expert in computers to use this calculator as it is designed to be simple and user-friendly.
You just need to select the customer category you belong to, enter the necessary details like deposit amount, FD tenure, FD type, etc. and the remaining task will be performed by the calculator itself. This calculator can also be used for the following things:
Finding an appropriate FD plan
If it is hard to come across an FD plan that is designed according to your requirements, it is better to use an FD rate calculator. This is because the FD calculator contains the gist of all the information that is required to analyze FD plan on the basis of their tenure range, deposit limit, interest rates, etc.
If fixed deposits have a major role in your financial portfolio then you can make important decisions concerning your financial plans with the help of the FD calculator. This is because the FD calculator will let you know whether a particular FD plan is suitable as per your financial needs or not.
Many individuals like senior citizens rely on the interest payout of FD for covering their medical bills, utility bills, and other expenses. Hence, the FD calculator can be used by themto determine whether a particular FD plan will provide a good enough interest payout or not.
Helps in decision making
Many financiers do offer a high interest rate but it is the FD calculator that will help you to find whether investing in a specific FD scheme will prove to be fruitful or not. This is because the interest rates vary with tenure and the FD plan you choose.
If two or more financiers are offering similar interest rates then you can use this calculator to find the FD plan that is better in terms of tenure flexibility, returns, and other features. You can also use it to compare fixed deposit rates across different avenues like post office FD plans, bank FD plans, and corporate FD plans.
However, no matter how efficient and useful a fixed deposit interest calculator India may be it is the FD interest rate that ultimately decides whether the returns are good enough or not. As bank FD rates are not up to the mark these days, you can invest in a company FD like Bajaj Finance FD. It offers an interest rate up to 7.25% and also comes with other impressive features that are described below:
- Monthly interest payout option
If you are a retiree or senior citizen who is looking for a regular pension or salary post retirement then you can invest in Bajaj Finance’s non-cumulative FDs. The monthly interest payout option is available with the non-cumulative FDs and you can utilize it to manage your need for funds easily.
Also, individuals above 60 are eligible for 0.25% better FD rate that can be utilized for earning better returns.
- A credible investment
FD plans by Bajaj Finance is considered to be a safe option because they have received high ratings from CRISIL and ICRA. Therefore, your money is safe if you invest it in any of Bajaj FD plans.
- Easy loans against FD
You can get a loan up to 75% of your FD value by investing in any of FD plans. This loan can be used for covering your immediate expenses like foreign trips, marriage of child, etc. The hassle-free online process of investment lets you book an FD conveniently and you also get a 0.10% additional FD rate for using the online FD form.
All these options and perks have made Bajaj Finance FD scheme one of the most preferred FD plans in India. If you also want to take a closer look into the features and benefits of Bajaj Finance Fixed Deposit plans then you can visit the official website today.