Underlying Facts of Fixed Deposit Rates

Fixed deposits are highly sought-after investment plans among the depositors and the investors these days. As their attractive fixed deposit rates provide better returns and safety of funds. Savings account facilitates withdrawal of money any time with no maturity period. Rather, a fixed deposit does not entertain untimely maturity of money. Thus, whosoever wants to grow his money and keep it safe should opt for fixed deposits as investment option.

Some of its benefits are - Amount deposited in fixed deposits remain safe and are secured for a long time till its maturity; and the investors get to earn a significant return on these attractive fixed deposit rates.

Summary: Introducing lucrative and attractive fixed deposit rates by the banks and other financial and monetary institutions has proven advantageous for the depositors and investors so far, thus making them benefit from their investments and deposits.

Fixed deposit rates Facilitate Precise Calculations

Fixed deposit rates are an assured interest rate for the whole period of an investment. They allow the depositor to receive high interest rates. On behalf of the Reinvestment scheme, the interest is compounded to the primary amount on a quarterly basis. Fixed deposit rates make you know the exact worth of investment of a depositor and consequently help in planning the financial matters further.

Fixed deposit rates facilitate depositors to know the exact value of the fixed deposit of the customer. For the conventional system, the interest on the fixed deposit account is credited to the depositor’s savings account specified by him or her on a quarterly or on a monthly basis.

Summary: Comparing the interest rate of banks for the last few years signify that they have been quite unstable.  In 2010, fixed deposit rates started going up again as banks were short of money.  

Fixed deposit calculator and its utilities

Opening a fixed deposit account in a bank is not any rocket science these days. We have quite a few well established banks in our country and the number is still growing. So with this, competition rises and banks offer different rates on fixed deposits these days. In order to choose the right bank which gives you maximum returns on your deposit is highly important. Here, steps in our very useful and handy fixed deposit calculator.

 It is very simple to use this calculator. It is available online and is very easy to use. You just need to fill in some details regarding principal amount to be invested, maximum time period, the rate of interest and the maturity period. Once, you have finished with feeding of all these details the fixed deposit calculator will give you an estimated figure of the amount.

Summary: Fixed deposit calculator is an amazing online tool when opening a fixed deposit account offered by banks to calculate the amount for the investors within seconds without wasting any time.