Skip to content
IndiaPlus

IndiaPlus

All Our Nation Needs

Primary Menu
  • Business
  • Destination
  • Digital Marketing
  • Education
  • Finance
  • Health
  • Entertainment
  • Insurance
  • Contact us
  • More
    • Home
    • Law
    • Life Style
    • News
    • SEO
    • Sports
    • Tech
    • Travel
  • Home
  • Finance
  • The Top Features to Look for in an FD Calculator for Accurate Investment Planning
  • Finance

The Top Features to Look for in an FD Calculator for Accurate Investment Planning

Berry Mathew April 23, 2023 3 min read
The Top Features to Look for in an FD Calculator for Accurate Investment Planning

The Top Features to Look for in an FD Calculator for Accurate Investment Planning

When it comes to investment, fixed deposits are considered quite a safe and low-risk investment. This is because it offers fixed returns, and the principal amount invested is usually insured by the regulatory authorities. 

Moreover, if you are planning to invest at an early age, this investment scheme is the best as you already know how much you’ll be reaping out of your investment. Nowadays, many potential investors calculate fd interest beforehand to get a fair idea of their investment. 

Contents
1 What is a fixed deposit?
2 What is a fd interest calculator?
3 What are the top features to look for in an FD Calculator for accurate investment planning?
3.1 User-friendly interface
3.2 Flexible
3.3 Compounding Frequency
3.4 Tenure options
3.5 Rate of interest
3.6 Tax deductions

What is a fixed deposit?

It is a type of financial investment instrument where a potential investor deposits a certain amount of money with a financial institution/bank for a fixed period of time, usually ranging from a few months to several years. 

The rate of interest offered here is generally higher than what is offered by a savings account, and it is fixed for the entire deposit tenure. Moreover, the amount invested cannot be withdrawn before the tenure ends. If the investor needs to withdraw the amount due to an emergency, they may incur penalties.  

What is a fd interest calculator?

As the term suggests, it is an online tool that is basically used to calculate the interest earned and the maturity value of a fixed deposit investment. This allows the potential investor to determine the interest amount they can earn on their investment before they actually invest their hard-earned money. 

This calculator tool uses a simple formula to compute the interest earned based on the principal amount invested, the interest rate offered, and the tenure of the deposit. The formula takes into consideration the compounding frequency of the interest payments (monthly, quarterly, half-yearly, or annually). 

What are the top features to look for in an FD Calculator for accurate investment planning?

  1. User-friendly interface

Such a tool should always have a user-friendly interface so that the potential users face no difficulty using it. In addition, it should generate a clear and detailed report showing the interest earned and maturity value of the investment. 

  1. Flexible

A good calculator should be flexible and allow the potential investor to change the inputs. This will enable them to compare the earnings under different scenarios and make a well-informed decision. 

  1. Compounding Frequency

It is the number of times the interest is calculated and added to the initial principal amount. The higher it is, the higher the returns. Therefore, choosing a tool that allows you to select the compounding frequency used by your financial institution is very important. 

  1. Tenure options

This tool should offer a wide range of tenure options, allowing one to choose the investment duration. This enables the investor to accurately calculate the returns based on the investment duration. 

  1. Rate of interest

It’s essential to have an FD calculator that allows one to input the rate of interest offered by the bank/financial institution accurately. This is essential because even a small variation in the rate of interest can significantly affect returns or even change plans.

  1. Tax deductions

Tax deduction on the interest earned on fixed deposits is an essential factor to consider while calculating the returns on the investment. A great calculator should include this feature and help one to determine the actual earnings after tax deductions. 

Continue Reading

Previous: Which Are The Best Brokers to Trade Forex in 2023?
Next: What Is Continuing Guarantee?

Related Stories

How to calculate FD interest for deposits with premature withdrawal How to calculate FD interest for deposits with premature withdrawal
3 min read
  • Finance

How to calculate FD interest for deposits with premature withdrawal

May 2, 2023
What Is Continuing Guarantee? What Is Continuing Guarantee
4 min read
  • Finance

What Is Continuing Guarantee?

April 24, 2023
Which Are The Best Brokers to Trade Forex in 2023? Which Are The Best Brokers to Trade Forex in 2023?
3 min read
  • Finance

Which Are The Best Brokers to Trade Forex in 2023?

March 2, 2023

Express Post

What Is User In Salesforce? What Is User In Salesforce
4 min read
  • Business

What Is User In Salesforce?

Charlotte Miller June 1, 2023
Are you curious to know what is user in salesforce? You have come to the right place...
Read More
What Is IIB? What Is IIB

What Is IIB?

May 29, 2023
The Best Sitcoms to Watch When You Are Bored The Best Sitcoms to Watch When You Are Bored

The Best Sitcoms to Watch When You Are Bored

May 28, 2023
What Is Pradosh Kaal? What Is Pradosh Kaal

What Is Pradosh Kaal?

May 26, 2023
What Is Incoming Call? What Is Incoming Call

What Is Incoming Call?

May 23, 2023

Categories

  • Automobiles
  • Business
  • Crypto
  • Digital Marketing
  • Education
  • Employment
  • Entertainment
  • Fashion
  • Finance
  • Gaming
  • Health
  • Home
  • Insurance
  • Law
  • Life Style
  • Luxury
  • Marketing
  • More
  • News
  • Pets
  • Real Estate
  • SEO
  • Social Media
  • Software
  • Sports
  • Tech
  • Travel
  • Uncategorized

You may have missed

What Is User In Salesforce? What Is User In Salesforce
4 min read
  • Business

What Is User In Salesforce?

June 1, 2023
What Is IIB? What Is IIB
4 min read
  • Business

What Is IIB?

May 29, 2023
The Best Sitcoms to Watch When You Are Bored The Best Sitcoms to Watch When You Are Bored
4 min read
  • Tech

The Best Sitcoms to Watch When You Are Bored

May 28, 2023
What Is Pradosh Kaal? What Is Pradosh Kaal
4 min read
  • Education

What Is Pradosh Kaal?

May 26, 2023
  • About Us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
  • Write For Us
Copyright © All rights reserved. | MoreNews by AF themes.