We all want to determine before investing how our savings will grow over time. In the case of fixed deposit investment, one can easily calculate the interest and maturity amount with an online FD calculator.
FD Calculator is a tool developed to assist the investor to calculate the returns on fixed deposits online. You can easily compare the FD returns for different intervals and can choose the best plan to yield maximum returns. Such calculators save your time and show an accurate result.
Fixed deposit interest varies bank to bank that is based on the following factors:
Fixed deposit interest calculators need the value of the deposit amount, FD type, FD tenure, customer type to calculate the interest earned and total amount receivable on maturity. It will reflect the result on your screen within milliseconds. You don’t need to use the manual calculation formulas to evaluate the return on your investment.
For Example:
Fixed deposit amount ₹ 5,00,000
Lock-in period: 5 years
Customer Type: Sr. Citizen
FD type: Cumulative where interest is compounded annually, and paid at maturity.
Your cumulative FD Calculations with Bajaj Finance FD Calculator are as follows:
Interest rate: 7.35%
Interest payout: Rs. 2,12,821
Maturity by: Aug 2025
Maturity amount: Rs. 7,12,821
You can receive monthly interest also on Fixed Deposit with Bajaj Finance FD if you’re looking for a regular income from your investment. You need to choose the frequency of periodic payouts as monthly while investing in an online fixed deposit. The interest rate is based on interest payout frequency. Therefore, it will be changed as per the choice of interest frequency.
A fixed deposit interest calculator will surely help you in deciding how much to invest that can save tax and fulfill your requirements. An investor can split his FDs after getting an estimate of the returns to bring his interest income in a lower tax bracket.
The interest earned on an FD is taxable under the Income Tax Act, 1961. If the total interest earned in a financial year is more than Rs.40,000 (Rs.50,000 for senior citizens aged 60 years and above), Tax Deduction at Source is deducted at the time of interest accrued. You can submit Form G/H to avoid TDS, as applicable.
You can easily compute your returns as well as invest at the comfort level of your home with an online application form. It is a 100% paperless process with identity verification via cKYC.
Both new and existing customers can access digitally-enabled application that helps simplify the process of online fixed deposit investment with various facilities such as multi-deposit and auto-renewal.
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