It is an online tool to calculate the maturity amount that you can expect at the end of the tenure if you deposit your funds in a fixed deposit at a particular rate of interest. Most of the banks and NBFCs that offer FD as an investment option have their FD calculators.
Use FD Calculator
To use the FD interest calculator of any financial institution, you need to provide the following details:
- The amount you wish to deposit or the principal amount
- Rate of interest applicable
- Tenure or the time for which you want to invest your funds in FD account (in years/months)
On hitting the ‘Calculate’ button, the calculator will display an estimated maturity amount that you may get on the maturity of your FD. By subtracting the principal amount from the maturity amount, you can arrive at the interest amount that you can get on your FD amount for that particular tenure.
Benefits of FD Calculator
A variety of investment options is available in the market. An investor should make a smart choice by comparing the return on the investment for a particular tenure and the security of his funds. Other considerations like tax benefit, a facility for pre-mature withdrawal and loan on investment, etc. are also vital.
- Fixed deposits are currently the most attractive investment options as fd interest rates are high with maximum security of the funds. FD calculator provides you with the approximate maturity amount for different input combinations
- It helps in comparison of returns in various types of FD schemes of various financial companies.
- There is the least scope of errors in the calculation as it is an automatic calculator.
- It can calculate the interest for monthly, quarterly, half-yearly, or annual pay-out mode automatically. It reduces the lengthy and cumbersome calculations and helps you in making a quick decision
- The calculator is free to use and is available online. You can use it multiple times and can compare returns for different combinations of FD interest rates, tenure, and principal amount.
PNB Housing Finance Fixed Deposit Interest Calculator
It is a leading NBFC offering a variety of FDs. The major types are cumulative, non-cumulative, and senior citizens fixed deposits. The FD interest rate calculator of the company is a preference among the investors due to the reasons mentioned below:
- The company is currently offering the most competitive FD interest rates in the market across all variants. As the FD interest rate calculator selects the rate of interest automatically when you provide details regarding the amount for investment, tenure, and the type of FD, the investors use it preferentially to know the maturity amount at different combinations, if they wish to invest funds in this company.
- This FD calculator calculates the approximate returns for all the modes of pay-out, like monthly, quarterly, etc.
FD interest rate calculators are of great help for the investors as it aids them to select the type of the FD account and the financial institute offering it as per their need.
Cash-back & Coupon Apps: How it Works and How to Use Best in Way
Microfinance in India Growing Fast Again: Should We Be Concerned?
How To Properly Manage Your Trades in CFD