Fixed Deposit Calculator – All those who are interested in investment in Bank FD then you are at right place. Today, we are going to share with you Fixed Deposit Calculator, FD Calculator. How your Investment grows particular period can also check it out here. You have just to enter your deposit amount everything will be calculated manually. Fixed Deposit is one of the terms deposit plans with the higher rate of returns as compared to a savings account. Nowadays, It’s quite attractive Investment option in India. The interest rate is fixed for the whole maturity period and, it’s usually considered as an extremely safe investment.
What is Fixed Deposit (FD)?
Fixed Deposit is one of the Best Term Plan for Investing in Bank FD. The interest rates differ bank to bank and also on the maturity period (usually longer period means higher interest rate). The interest is compounded quarterly (every three months) in most banks. Fixed Deposits have very low liquidity, and, you’re not supposed to withdraw any amount (however you could take the loan at low-interest rate @ 1% or 2%) before the maturity date. If you do, a penalty may be applied, and the interest rate will be reduced. You can also check it out PPF Calculator.
Some More Important Facts about Bank FD
- The rates are subject to change from time to time.
- The interest rate is auto-populated for Resident deposits < 1Cr
- You are free to input any rate of interest in the calculator. However, the bank will pay interest as per the rates published on the website for the respective dates and tenors.
- In case of premature closure of the FD, the interest payable and the applicable penalty would be calculated as per Bank’s Policy.
- Maturity amount provided is subjected to TDS if applicable, as per Income Tax Act from time to time.
- Non-submission of PAN will attract the higher rate of TDS as applicable.
- If interest pay outs are monthly customer will receive Discounted Rate of Interest.
- The minimum tenure applicable for NRE deposit is one year.
If you have any query related pan card status check it out here.
Benefits of FD
- it’s very safe
- Stable and predicted returns (e.g 8% p.a)
- Well suitable for conservative investors
Limitations of FD
- Low liquidity
- Low returns because actual returns are lower when you consider taxes and inflation
- Not suitable for long term wealth creation or the investors with the high-risk appetite.
So, above is all Bank FD ( Fixed Deposit) details. All those who want to know the exact amount of FD when it’s mature you can easily check it out all the details only on here. Bookmark this page for Fixed Deposit Calculator, FD calculator, FD Interest Calculator.