How to grow your savings with a fixed deposit calculator?

A fixed deposit is a lucrative investment option because your investment remains unaffected by market volatilities and earns guaranteed returns. Thus, it is an efficient vehicle to park your savings in, as it offers a steady growth without any risk. However, before investing in a fixed deposit, it is vital that you learn more about issuers and their investment features. Here is how you can go about securing the best growth for your savings with the help of a fixed deposit calculator.

Compare fixed deposit offers

To get the best returns on your fixed deposit, spend some time researching your options. However, this can be time-consuming and cumbersome without the right tools. However, the fixed deposit calculator simplifies the process as you can enter interest rates of various issuers to forecast returns for the principal and tenor that you have in mind. Using this information, you can simplify your search.

Bajaj Finance Fixed Deposit is sure to stand out as it offers market-leading FD interest rates and a flexible tenor of 12­ to 60 months. You can earn 8.95% interest as a senior citizen investor and 8.60% as a regular investor when you invest for 36 months or more, and receive interest at maturity.

Forecast your maturity returns accurately

When you’re planning to grow your savings, it is important to know what your investment will yield in the future, especially if you’re investing for a goal such as buying a car, or for a planned expense, such as renovating your office. Since the returns are assured, simply entering the values in FD calculator will tell you what’s in store at maturity. Accordingly, you can choose the right principal and tenor to address your goals.

Ladder your fixed deposit investments efficiently

Laddering your fixed deposits is an efficient strategy. It eliminates premature withdrawals and the associated costs, and ensures that you always get the full benefit of your investment. Typically, when investing, you’re likely to have a goal in mind. You can start FDs of varying tenors for such goals, so that you get the liquidity you need on time, without breaking an FD and foregoing a portion of the interest. Simply use the calculator to ascertain how much you must invest given the time you have for a particular goal.

Bajaj Finance Fixed Deposit also offers multi-deposit facility, wherein you can invest in 5 fixed deposits at the same time, with a single cheque. These FDs may be of different tenors, investment amounts and payout frequencies. In case you’d like to break an FD out of these multiple deposits, the remaining deposits remain undisturbed and you can keep earning interest out of them. Thus, you can look for higher flexibility and convenience with Bajaj Finance Fixed Deposit and its multi-deposit facility.

When used wisely, this tool can greatly aid your investment efforts and bolster your financial growth as it offers only accurate results. However, these results depend on investment security and thus you must opt for an issuer that has high safety ratings.

Bajaj Finance FD is one such option as it has both ICRA’s MAAA and CRISIL’s FAAA ratings, the highest in their categories. Best of all, to get started with your investment, you can simply fill an online application form and wait for a representative to get in touch with you.