What is a Fixed Deposit?
A fixed deposit is a type of financial scheme that is provided by non-banking financial companies (NBFC) and all major banks of India. Fixed deposits have been a popular investment in India at the time. A fixed deposit is considered a safer and more secure investment for the future. In an FD, individuals can invest a specific amount of money for a fixed period at a predetermined interest rate. The rate of interest can vary from one bank or (NBFC) to another. In fixed deposits, fluctuations in the market do not affect the interest rate of fixed deposits. You will get the same interest rate as discussed earlier between you and the bank. A fixed deposit is said to give flexible duration and a guaranteed rate of interest.
What is an FD calculator?
An FD calculator enables individuals or investors to calculate the (FD) maturity amount on investments made through the FD account for a fixed tenure. FD calculator can give you an estimation of interest income before making any financial investment towards the FD. A fixed deposit calculator can be used online to determine the interest rate and maturity amount which can be very helpful for you to plan your financial expenses accordingly. This calculator is easy to use and available at the website of www.myitronline.com You can check it out here.
How to use the Myitronline FD calculator?
Following are the measures given below on how to use the myitronline FD calculator.
- There are three sliders given in the calculator for total investment value predetermined rate of interest, and time or tenure. You have to set the sliders according to the outputs.
- The first slider is for the total investment amount made towards the FD account. Fix this slider as per your investment plan.
- Set the second slider that shows the rate of interest.
- The third slider is for the tenure of investment, set this one slider accordingly to your tenure period.
What are the advantages of the FD calculator?
There are several advantages of using an FD calculator. Investors can estimate the accurate amount of maturity period and interest income after the tenure.
- An FD calculator helps you to save precious time by eliminating complex manual calculations.
- Investors can get the accurate amount that they will get after maturity. It becomes easy to plan financial expenses accordingly.
- Myitroonline calculator is free and can be used unlimited times.
- You can compare the wealth gained and investment objective in seconds with the help of the myitronline FD calculator.
Why should you use the myitronline FD calculator?
Before making any investment in schemes, it is very important to research and analyze the market for better financial planning. In this case, individuals can use the calculator to have an estimation of how much amount should they invest in the scheme to fulfill their financial goals. Myitronline FD calculator enables you to compare the different FDs. Investors can use the myitronline calculator to know which FD period is suitable for them. Myitronline FD calculator helps you to compare the wealth gained with other similar investment options.