Fixed deposit calculator

Life is unpredictable when it comes to the future in terms of health and wealth. It is thus advisable to invest and safeguard your future by selecting the appropriate saving and investing opportunity. With the advent of technology and different operators, it is easy to find a fixed deposit calculator that gives you the option to invest your funds in a pre-decided term and earn a pre-decided rate of return upon maturity. The service provider assists you in identifying the amount of deposit required to attain a particular maturity amount along with the deposit interest rate and the tenure of staying invested in that instrument. Let us analyze some of the primary advantages of engaging a calculator for ascertaining these details in a fixed deposit:

  1. Accuracy in Calculations: Engaging the services of a deposit calculator helps to ensure that there is accuracy in the calculation of the deposit amounts as well as interest rate etc. This helps close on the tenure of investment that you need to achieve your target amount. When the calculations are nearly accurate, you are sure about the exact time required to stay invested in that deposit to get the desired results. 
  2. Compare and Contrast: In addition to the use of an automatic calculator to calculate and decide the amount to be invested, breaking it into smaller amounts or a lump sum, there is also the facility to compare and contrast the input rates from various banks so that the best option can be chosen. A comparative view also helps to see the veracity of your assumptions regarding the returns on your investment. 
  3. Expert Calculations and Suggestions: As the investment calculator discloses the amount to be invested for a decided sum of return, there is surety of accuracy in calculations every time, which helps to avoid any mistakes or errors due to human intervention. 
  4. Maturity Amount Calculation: When the exact maturity amount is known to you, you are better placed to plan and execute the future course of action. This accuracy is even better and faster than using any digital medium or spreadsheet etc. to know these figures. Maturity amounts are calculated in a much swifter manner to know the numbers that you will gain after the fixed tenure of investment. 
  5. Better Choices: Since the facility of knowing the exact amount of investment and interest rates tells you the tenure and the other conditions like staying invested, you are in a better position to analyze and decide about proceeding with that investment. Once you have compared the different maturity amounts, you come to know about the most suitable investment opportunity and also decide about the renewals. Thus you can make better choices for depositing the amount in FD and its renewal after maturity.

As FDs and some other investments give regular interest periodically, the effect of compounding the investment is also availed by you. With alternatives such as a recurring deposit calculator and other tools to calculate and find out about the most appropriate investment instrument suitable according to your needs, it is time to use them. 5paisa is one such platform that provides this service and gives you a lucid picture of your future with these investments and deposits.