Investing in Fixed Deposits is one of the best and most secured ways to let your money grow. It is a onetime investment that reaps interest monthly, quarterly or at a short term as per your choice. The safest feature of a fixed deposit is that it is not subjected to market risk. You get an assured return on your amount invested. The maturity amount and the interest earned when you open a Fixed Deposit account can be determined using an FD calculator. This gives you a clear picture of how your investment is working out.
To optimise your outcome from investing in fixed deposits you should always compare the rate of interest provided by the bank, the time period for which the investment is being made and at what interval the interest is being calculated. The FD calculator comes in handy while analysing where to invest.
It is wise to make multiple FD accounts than investing the entire sum at once. In case of an emergency, even if you withdraw from one of the FD accounts while the others stay intact. The bank in case of a premature withdrawal from a fixed deposit account levies a penalty that it deducts from the amount it pays you. The amount that you receive in such an instance is calculated using an FD calculator by the bank and it includes the principal amount and the interest earned till then.
Your FD might be your easiest way to get a loan from the bank. The bank where you have your FD account can provide you with a loan of nearly the amount of the value of your FD. The percentage given as a loan ranges from 85-90%. This loan is granted for a short period of time and under no circumstances can exceed the period of you FD. You can know your loan amount by calculating the value of your FD.
The FD calculator can be a good guide for determining the way to extract benefits of your FD. When the math is done we get a better grip on what we are heading to. The interest you earn out of your FD can either be reinvested or withdrawn.
Reinvestment provides you with a higher amount of interest than the previous year. If you keep withdrawing the same rate of interest is given every year until your FD matures. The interest earned from FD is taxable if it crosses a certain limit. There again FD calculator helps you to assess your interest amounts and aids in its management. It is a tool that simplifies the financial jargons and gives you an easier insight into your money and its management.
To optimise your outcome from investing in fixed deposits you should always compare the rate of interest provided by the bank, the time period for which the investment is being made and at what interval the interest is being calculated. The FD calculator comes in handy while analysing where to invest.
It is wise to make multiple FD accounts than investing the entire sum at once. In case of an emergency, even if you withdraw from one of the FD accounts while the others stay intact. The bank in case of a premature withdrawal from a fixed deposit account levies a penalty that it deducts from the amount it pays you. The amount that you receive in such an instance is calculated using an FD calculator by the bank and it includes the principal amount and the interest earned till then.
Your FD might be your easiest way to get a loan from the bank. The bank where you have your FD account can provide you with a loan of nearly the amount of the value of your FD. The percentage given as a loan ranges from 85-90%. This loan is granted for a short period of time and under no circumstances can exceed the period of you FD. You can know your loan amount by calculating the value of your FD.
The FD calculator can be a good guide for determining the way to extract benefits of your FD. When the math is done we get a better grip on what we are heading to. The interest you earn out of your FD can either be reinvested or withdrawn.
Reinvestment provides you with a higher amount of interest than the previous year. If you keep withdrawing the same rate of interest is given every year until your FD matures. The interest earned from FD is taxable if it crosses a certain limit. There again FD calculator helps you to assess your interest amounts and aids in its management. It is a tool that simplifies the financial jargons and gives you an easier insight into your money and its management.
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