Calculate the best rates with the FD calculator

Banks are financial institutions which provide a number of services to their customers such as accepting deposits, providing locker facilities, foreign exchange services, providing loans and overdraft facilities.  These deposits are of various kinds such as savings deposits, recurring deposits, fixed and current deposits. The deposits are categorized based on the rates of interest provided.

Fixed deposit is a financial instrument which is provided by a bank to its customers so that they are able to obtain interest earnings, which are more than those obtained from keeping money in a regular savings account. In case of a fixed deposit, the interest rate provided by the bank is higher because the money must remain untouched till the given maturity date. A fixed deposit calculator or an FD calculator may be useful in obtaining the best rates, if an individual is planning to use the fixed deposit facility to assure safe investment.

A question may arise as to why opt for fixed deposits when other financial instruments are available. The following points indicate the benefits of fixed deposits:

• Fixed deposits are the safest modes of investment.
• Fixed deposits assure a fixed source of income. Mostly the interest rates are compounded quarterly and so those who want regular earnings can use fixed deposits as a source of income. It is a popular mode of investment among retired individuals.
• Fixed deposits encourage the habit of saving which is beneficial in the long term.

A FD calculator is basically an instrument which enables one to calculate the return on the principal amount invested. Now, the return or the rate of interest depends on several factors. A FD calculator considers all these factors and then calculates the best rate possible. The factors affecting the interest rates are:

• Age of the customer: a higher rate of interest is provided to senior citizens. Thus, they can save as well as earn by investing in fixed deposits.
• Principal Amount: the interest rate depends on the amount initially invested.
• Period of deposit: banks provide higher rates of interest to customers who invest in fixed deposits for a longer period of time. There are also term deposit for 5 years and even more.

Based on the factors stated above a FD calculator, calculates the rate of interest which can be provided and also the end of the term earnings of the customer.  Thus, it a very useful device which calculates the end of term and annual earnings of a customer considering all the variables, assuring that the investor benefits through a FD.

Take advantages of these features of the Fixed Deposit Calculator

Fixed deposit plays a very significant role for many who want to save. It is an effective instrument used by investors for a good one time return. It brings in a good sum of money, which includes the money saved and the interest earned on it at maturity.

A fixed deposit calculator is used to calculate the interest that one will earn on a particular sum for a certain period of time. Fixed deposit calculators can be found on the website of most banks. It is quite an efficient tool, and is convenient to use. It simplifies complicated calculations for customers, and allows them to make an effective comparison of the interest rates that are being offered by various banks.

So the various advantages of the fixed deposit calculator are as follows:

• Necessary Information
Before investing a huge amount the customers/investors need assurance as to what return they will be getting after the maturity period. The fixed deposit calculator will provide them with necessary information such as the total interest they will earn on the amount that they have fixed. It is very important to make an account of the necessary details of a fixed deposit before investing in it.

• Hassel free
For many customers/investors calculating the fixed deposit interest rate offered by various banks becomes extremely difficult. The fixed deposit calculator allows them to calculate the interest that they will earn on the sum they are investing with just a click of a few buttons. One only needs to enter the required figures that the calculator asks for to get the complicated math done.

• Comparison
With the help of the fixed deposit calculator, customers/investors can compare the interest rate offered by a number of banks for a particular term, and decide which bank will provide them with better benefits. Thus, they can effectively invest in the bank of their choice.

• Self-reliant
Very often a prospective investor may need to take the help of a bank employee to figure out the details of the term of a fixed deposit. This can prove to be quite time consuming, as one has to go to the bank, wait for their turn and on occasion even pay a couple of visits. But a fixed deposit calculator allows him to find out details on his own at any time.

Thus, the fixed deposit calculator is a convenient tool which will help customers/investors make their own choice and take independent decisions. Their investment will be their choice. The risk of confusion is reduced. The customers/investors feel satisfied and make investment which is best suited for them.

Consolidating multiple Demat accounts: all that you need to know

Demat account stands for dematerialised account. They are usually opened by an investor when they are registering with a sub broker or an investment broker. It implies that the shares and securities are held or taken possession off not by the investor physically but electronically in a dematerialised account, that is, a demat account.

In simple words it is an electronic savings account found in India.

Advantages of a demat account-

• A major benefit of using a demat account is that instead of holding shares on paper, one can save all their shares in electronic form and keep a track and account of them with less fear of losing the records or theft of stocks etc.
• Storing records electronically, reduces the difficult task of handling heaps of stock certificates as well.
• A demat account is also considered as an absolute must when it comes to trading in stocks and ETFs.
• Another plus point of a demat account is that it does not attract stamp duty.
• The investor becomes the legal owner of the securities once it is credited to the person's account and there isn’t any requirement to pass it through the company's registrar.

How to consolidate a demat account?

 The account holder requires to pay a visit to the DP office or branch and submit the necessary forms and documents if he wishes to consolidate his demat accounts.

 He will require a delivery instruction slip or DIS. It is like a cheque leave that sanctions transfer of securities from one demat account to another. This DIS needs to be filled in and signed before it is handed over to the depository participant’s office.

Benefits of consolidating demat accounts:

 Having separate or multiple demat accounts implies that one has to incur a large fee with every transaction made. But if the accounts are consolidated, the transaction fee for a single account is not much. This way a person can save up on annual fees and charges on several demat accounts.

 Dealing with multiple accounts means dealing with a lump sum of paperwork. This hassle free task can be taken care of with the consolidation of demat accounts. This eventually also makes tax filing easier.

 Consolidating demat accounts is extremely easy and simple.The entire process becomes an off-market transaction and all that is required is a delivery instruction slip or a DIS which includes the details of the transfer value and the destination account.

 If a broker has only one account with a DP, only a single request form is needed. Joint accounts require that this slip be signed by all owners. Many DPs usually charge fees for transfer of securities. A major benefit of joining accounts in the name of a single person is the tax exemption one can apply for.

Consolidating demat accounts will prove to be quite beneficial in the long run and should be considered to make transactions more efficient.

Do you really need to use the recurring deposit calculator for your term deposit?

In case of a term deposit, a deposit is made to either a bank or financial institution or a credit union or even a building society for a pre-determined period of one to five years.

There are two types of term deposits: Fixed Deposits (FD) and Recurring Deposits (RD). In case of a fixed deposit one deposits a particular lump sum amount for a certain period of time with the bank.  While the latter is meant for borrowers with regular incomes so that they may be able to invest money on a monthly basis. In case of a RD, a return is acquired from the monthly instalments that are made by an individual.

One should seek the help of a recurring deposit calculator to calculate the interest returns on one’s savings. A recurring deposit calculator helps one to calculate these “returns”. Here is why one should use a RD calculator-

• Using a RD Calculator will help one know how much they will receive once the maturity period has been achieved.
• A recurring deposit calculator will help one calculate the total savings they will make on the given interest rates.
• Another benefit of using a RD calculator is that it allows the investor to save money. In some cases any amount can be saved at any time.
• It may also be used to make an approximate estimation of how much an investor will be able to save each month. Deciding on a particular amount can help an individual make several financial plans and decisions, which may include investing in a home or car.
• Quick calculation of finances with the help of a recurring deposit calculator can help investors keep a record of their FDs and RDs effectively. In this way they can keep a track of the growth and stability of the investment that has been made.
• Interest rates differ from bank to bank, but a recurring deposit calculator, will effectively calculate the interest amount that one will receive on maturity of the term deposit.
• More often than usual, recurring deposit accounts are also opened for children or by senior citizens who may make calculation errors or find it difficult to do complicated math. A recurring deposit calculator is a life saver in this case.

One should invest in a recurring deposit or a fixed deposit only after obtaining information about interest rate offered by different banks and comparing them effectively. A recurring deposit calculator helps one compare rate properly without any calculation errors. One can find a reliable recurring deposit calculator online or on the website of any bank or financial institution.

Did you know you can enjoy these benefits with the online mobile recharge?

In the present global scenario, everyone has become tech savvy. It is important for one to become familiar with the online world of mobile recharge. In fact, the main aim behind all online recharge services is to facilitate consumers with fast and smooth transactions and recharges.

Online mobile recharge is easy and efficient, moreover it offers several benefits such as-

• Recharging mobile phones can be troublesome when it comes to people who have a tight schedule. Thus, online mobile recharge makes it very easy to make online phone bill payments, while seated in your office or comfortably back at home.
• What one does not realise is that there are a lot benefits involved with online mobile recharge. One major benefit of online mobile recharge is that it provides a variety of prepaid mobile services at very convenient economic charges for calls, SMS, Voice mail service, call conferencing etc.
• Online recharging comes with a package. The consumer can simply select the package that suits their purpose the best. Several deals are at discounted rates as well.
• Online recharge payments also offers coupons, vouchers, discounts and several other forms of privileges, which may be redeemed by customers from time to time. Many online mobile recharge sites offer 100% cashback on their first recharge or give out free recharge coupons as well.
• Another important fact to note is that online mobile recharge is a service that is provided 24/7.
• Online services are also very easy and accessible. No matter where one is, as long as one has a cell phone and internet connection they can get a recharge done. One should also ensure access to a credit card/debit card/net banking/e-wallet in order to get a recharge done online. The entire transaction is a step by step process and extremely easy to do.
• Online recharging also makes it very easy for a person to track and keep a record of all recharges that he or she has done.
• Sometimes due to busy schedules, one may forget to recharge his phone and in case of an emergency, one cannot make an urgent phone call. It is in such a scenario a quick and easy online mobile recharge is extremely handy and comes to the rescue.
• One can bid farewell to long queues with the introduction to online mobile recharge services. No more wastage of time and energy.

For all these aforementioned reasons, it is very practical and feasible to opt for online mobile recharge. It makes life a little bit easier, especially when one has a busy schedule.

Online application: when you need to apply for credit card urgently

Credit cards are like a contractual agreement that takes place between a borrower and a lender. The bank which is the lender provides or loans money to the borrower with the trust that the money will be reimbursed later within the time period agreed upon. Some people argue that credit cards create problems, but there are a lot of benefits to credit cards if one uses them well. There are many reasons why one should apply for a credit card. Some of them are given below:

For student loans
Loans can be taken against a credit card. Apply for one when in need of a student loan. Education comes at a high price and a credit card may come handy during admission.

For home loans
Another major investment for a better future and improved lifestyle is a home.  Houses do not come at cheap rates, but one cane secure a home loan easily with the help of a credit card. Apply for it today and start maintaining a credit history. 

For car loans
Cars are getting expensive day by day. Cars are considered as a luxury commodity and purchasing a car requires a lot of money. For this reason once again a credit card will help secure a loan if necessary.

To land a job
A credit card opens doors to several job applications. It is surprising but true. An individual with a credit card and a good credit history definitely comes across as reliable and responsible to a prospective employer.

To take a vacation
Busy schedules demand more time spent on work and less on family and pleasure. For this reason vacations become a necessity for every family. Breaks are also required to rejuvenate. An international credit card will help one make purchases and pay bills when holidaying with family and friends.

To make online purchases
For all the shopaholics out there who purchase off the Internet, a credit card comes extremely handy because there are many shopping websites that do not offer the cash on delivery option. This does not necessarily imply purchasing accessories and clothes but also the purchase of airline tickets or hotel bookings etc.

One should note that large amount purchases can be made at 0% interest using credit cards. Getting hold of a credit card and its use will reflect upon the credit history as well. This will make one eligible for certain perks and benefits. Hence, credit cards are essential tools that gives plenty of economic benefits and opportunities for a better life style.

First time loan applicant: tips to get an approval on your car loan application

Getting a car loan is not easy. A car loan is offered to only those who are able to prove themselves as loan worthy. Sometimes it may become difficult for loan lenders to give out loans to some prospective borrowers because of their financial background. Some things that one should keep in mind when applying for any loan especially when it comes to a car loan are given below:

1. Calculate a budget
 Before purchasing anything, it is important to know if one will be able to afford it or not. Therefore, the first point is to establish affordability or know the budget. This implies that the buyer should calculate their income after considering the tax deductions to find out how much is actually earned, how much money is used for living expenses, that is, for basic sustenance. The money that remains, may be considered as savings and spent on other goods and services. Efficient budget planning will create a good impression on lenders as it will indicate how responsible the borrower is.

2. Know your car
Another factor to take note of when applying for a car loan is the overall cost of the car. This includes additional instalments and additional prices, that is, expenses for the fuel, insurance and maintenance. Knowledge regarding these matters may improve chances of approval.

3. Pay a deposit
When applying for a car loan it is advisable to make a deposit even if it is not necessary because this can be beneficial. It definitely means that one will have to worry about lower repayment every month, and it also creates a good impression on the money lenders.

4. Know your credit account and clear debts
The credit profile reviews how an individual uses credit and how they make monthly payments. This shows if a borrower is a reliable or not. So it is better if one clears off all debts they might have, this will increase their chances to get approved for the car loan or any other future loans.

5. Trade car (for old car owners)
Owning a car for more than four years means that there is a chance for them to have a higher trade-in value. It is even more beneficial if all the deposits have been cleared off. If the trade-in value is lesser than the amount the person owes the bank, in that case the person should keep the car or the vehicle for a few more months or could use savings to settle the existing loan.

6. Know the best deal
Once the above mentioned points have been taken care of - the budgeting, calculating and credit checking, the final step is to find out the best car deals showrooms are offering. In the competitive global vehicle market, there are a lot of appealing offers. Compare discounts and offers in order to get the best deal in the market. It is also advised that one should look online for low interest rate deals before actually going to a dealer.

Many banks and financial institutions offer a car loan today, thus there are plenty of options to choose from.