As far as managing money and wealth goes, we tend to stick to traditional and tried and tested options. Even calculating returns on investments is an exercise of the mind. While it certainly provides the much needed mental exercise, you can tend to miss out on the exact benefits of tenor and changes in interest rates. To mitigate this risk of not knowing the full impact of your investment, you can easily make use of the free online FD interest rates calculator .
To be an informed investor, one must understand the basics of interest rates calculation. There are various methods to calculate interest rate on fixed deposits such as manual through formulae and compound interest tables or you can simply login to your bank website for the fixed deposit calculators available there.
While we talk about calculator assistance, you can check out the free term deposit calculator from Bajaj Finance where you can easily adjust the factors per your requirement and get the maturity amount you can expect to receive. With a simple and user-friendly interface, anyone can use this at their convenience.
Here are the basic terminologies one must know before computing the value in the FD calculator:
Choose the customer category that you fall into to get the right interest rate as it is an automated fill-in. New customer, Existing or Senior Citizen rates differ.
Senior citizens can avail an additional 0.25% interest rate. Returning customers receive an additional 0.10% for renewal. While customers who choose to make an online investment also get an additional 0.10% interest rate.
While investors tend to look at tax saving FDs as a means to earning higher, you can just as easily look at building upon highly lucrative fixed deposit with laddering and Systematic Deposit Plan to earn higher interest rates with Bajaj Finance FD.
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