Here’s Why you Should Use an Online FD Calculator to Plan Your Investments

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Planning and execution are the two most important terms when it comes to investments. When you are in your initial years of profession, it is the right time to invest. It allows and gives time to your wealth to grow exponentially as time passes by.

In India, when it comes to investments, one of the most sought-after is the Fixed Deposits, as the FD interest rate in India is quite lucrative. Moreover, this investment assures guaranteed returns and is not related to the fluctuations that happen in the market. So, therefore, this is the prime reason Indians are more inclined towards it and not towards stocks, bonds etc.

What is a fixed deposit?

As the term suggests, it is a type of investment instrument where an investor deposits money for a fixed period of time at a predetermined rate of interest. The interest rate here is usually higher than a savings account, offering a better return on investment. Moreover, it is totally liquid and can be withdrawn at any but with just a minor penalty.

What are its advantages?

●    Easy withdrawal

You can easily withdraw your money before the maturity date. However, it is highly advisable not to do so, as a minor penalty is involved for early withdrawal.

●    Assured ROI

This type of investment assures risk-free returns. Unlike other volatile investments, it offers a sense of security to the investor as the returns are guaranteed. Moreover, the FD interest rate is quite advantageous as compared to others.

●    Flexible Tenure

The tenure here totally depends on the deposit holder and is entirely flexible. However, each financial institution/bank has its own minimum tenure rules.

Which FD calculator to use, and why should you use it?

Here, it’ll be better if I share my personal experience as it will save you a lot of time. Around five and a half months ago, I was planning to invest in FD, and one of my associates advised me first to use a fixed deposit calculator. I’ve been using the Bajaj Finserv application for quite a long time and found the calculator in it only. So, here is an easy step by step guide on how to use it –

  1. Download the application from the Play Store or App Store
  2. Sign up by entering your details
  3. Open it and tap on the top left icon with three lines.
  4. Here, you’ll see ‘Calculators & Buying Guides’
  5. Go to Deposits Calculators
  6. Tap on Fixed Deposit Interest Calculator.
  7. Enter the details
  8. Use it as per your requirements

Now, when it comes to why one should use such a tool, the answer is that it offers exact figures of what you’ll be reaping on your investment. This is very important because before investing, every individual has a goal in mind, a short one or a long one.


Before investing your hard-earned money, knowing what you’ll be reaping out of your investment is essential. So, if you can easily access a FD calculator that make your investments easy, then you should use them!