Fixed Deposit or FD is one of the most stable and safe investment tool. In India, Fixed Deposits are a major part of an individual’s saving plan. The Fixed Deposit interest rate is higher than that of conventional regular savings. The investment in Fixed Deposit scheme is possible only once during the time of opening account. Also, the FD rate of interest will not vary during the deposit tenure and will be set at the time of investing. The Fixed Deposit rates in banks and other NBFCs depends on the institution’s policies, deposit tenure, investment amount, etc. You can go for Fixed Deposit online or offline method from 7 days to 10 years. Moreover, Fixed Deposit for Senior Citizens offers higher FD rate of interest. To help out a large no.of people to save their hard-earned money, there are various Fixed Deposit types. Fixed Deposit benefits you with TDS charged as per IT Act, 1961, from the Fixed Deposit interest rate. On top of that, there is no market fluctuation effect on Fixed Deposits return.

Fixed Deposits also termed as Term Deposits or Time Deposits. The interest rates for Fixed Deposits remain same throughout the deposit tenure. At the time of Fixed Deposit withdrawal, you need to submit Fixed Deposit receipt. In case, you need money urgently, instead of withdrawing the Fixed Deposits, you can go for Loan against Fixed Deposit. The loan against FD interest rate is only 1% or 2% higher than the regular Fixed Deposit rate of interest.
Here are some crucial reasons as to why should you opt for Fixed Deposits-

• Investing in Fixed Deposit plans will ensure a stable return at the end of the maturity period. And you can easily earn Fixed Deposit best rate of interest prevailing on the date of FD opening.
• As per your convenience, you can either go for Fixed Deposit withdrawal by submitting the Fixed Deposit receipt. Or else, you can renew your Fixed Deposits. You can also enable regular payout for a stable income source.
• You can go for Fixed Deposit plans and can invest for a minimum period of 7 days to 10 years. Whether you want to invest your surplus amount for a short period or longer duration, Fixed Deposit can be your ideal investment option.
• Fixed Deposit rate of interest range from 3.5% to 9.5% per annum. The Fixed Deposit minimum amount varies according to the institution. You can go for at least Rs. 5000 for Fixed Deposit minimum amount.
• If you don’t know how Fixed Deposit is calculated, no need to worry. You can easily use Fixed Deposit Calculator to calculate the return that you will get after the FD maturity.
• You can easily use Fixed Deposit Interest Rate Calculator to easily evaluate the monthly interest that you will earn against the Fixed Deposit scheme. Also, Fixed Deposit Interest Rate Calculator is an efficient tool to calculate the total amount you will receive from Fixed Deposits.
• You can easily go for Fixed Deposit withdrawal pre-maturely in case of any emergency. For pre-mature Fixed Deposit withdrawal, a certain amount of penalty is charged by the bank or NBFCs.
• To meet any financial emergency, you can take a loan against Fixed Deposit plan at low Fixed Deposit rate of interest. Generally, the interest rate of Fixed Deposit Loan is just 1% or 2% higher than the FD rate of interest.
• You can also avail secured credit card against Fixed Deposit. So, it is not necessary that you will have to have a good credit score to avail credit card. Using this secured credit card, you can also build your credit history by using card carefully and responsibly.
• Any change in the market condition will not affect interest rates for Fixed Deposits. So, there is no risk in Fixed Deposits investment. Moreover, Fixed Deposit for Senior Citizens provides higher FD rate of interest.
• Fixed Deposit tax deduction is based on the Income Tax Act, 1961. As an Indian resident, if your income from all sources is lower than Rs. 2.5 lakh per annum, you can easily submit Form 15G or 15H. Then TDS deduction will be prevented from your Fixed Deposit interest rate earned.

To open Fixed Deposit account, the list of documents which you need to submit are-

ID Proof-

AN card, AADHAAR card, Driving License, Passport

Residential Proof-

Bank Statement with Cheque, Utility bills like- Electricity or Telephone bill, Passport, AADHAAR card.

Fixed Deposit Calculator is an online, convenient and easy-to-use tool to calculate the amount you will earn at the time of maturity. As you know, the Fixed Deposit interest rate gets compounded over the time. Many times, people get confused with the complex calculation of the Fixed Deposit returns. So, instead of manual calculation, you can easily use the Fixed Deposit Calculator. Only you need to input the details like- deposit amount, interest rate and deposit tenure. The Fixed Deposit Calculator in no time will give you the exact FD amount that you will receive on maturity.

Using Fixed Deposit Interest Rate Calculator, you can calculate the monthly interest that you will earn on the FD. Fixed Deposit Interest Rate Calculator provides an accurate and quick result within seconds. So, the possibility of human error gets nullified while using FD Interest Rate Calculator. You need to input some details like- Interest Rate, Deposit Amount and Deposit Tenure. After you entered the above details, Fixed Deposit Interest Rate Calculator provides the exact result in no time.