Fixed deposit is one among the
schemes introduced by banks to persuade people to deposit their hard-earned
money for a particular period of time. Though the interest on fixed deposits
offered by banks are less than other private financial institutions, banks
offer a guarantee for your deposited sum. Before depositing the amount in the
fixed deposit schemes you can calculate the anticipated yield by making use of
a fixed deposit calculator.
Almost all banks and private
financial institutions operating fixed deposit schemes feature their concerned fixed deposit calculator on their
official website. Just by entering the principal amount deposited in the fixed
deposit scheme, the interest rate and the period of deposit, you can calculate
the expected yield of the fixed deposit by making use of the fixed deposit calculator. You can
even calculate the yield by making use of financial calculators or Excel
spreadsheets.
Summary: An online fixed
deposit calculator enables the depositor to calculate the anticipated amount
of the fixed deposit.
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