A fixed deposit is the best choice if you want to make a low-risk investment with guaranteed earnings. You can start safely increasing your money with competitive interest rates. Numerous financial services are available to consumers of RBL bank. A fixed deposit is one of RBL Bank’s most well-liked programs. Not only that. Using the RBL FD calculator, you can also Calculate FD Interest and determine your investment’s returns in advance.
FD calculator is an online free tool that can be extremely useful in assisting people in determining the maximum profit from this investment. This article discussed the advantages of utilising the RBL bank FD calculator and how to utilise it. Before we do that, let’s first comprehend the characteristics of a fixed deposit provided by RBL bank.
Features of Fixed Deposit
The following are some characteristics of fixed deposits at RBL Bank:
- You can start a fixed deposit through net banking (if you have an RBL bank account)
- You can decide whether to receive interest payments monthly, every three months, or upon maturity.
- You can choose fixed deposits with terms ranging from seven days to twenty years
- You may use the nomination option with a fixed deposit
- You can also opt for early fixed deposit withdrawal.
- You can use the overdraft against a term deposit facility.
How Does the FD Interest Calculator Work?
The interest income earned and the amount of your fixed deposit’s maturity are determined using a specified formula. Using this simple tool, you can avoid the time & effort of manually calculating the FD maturity amount. Open a Fixed Deposit Account today!
The formula to calculate the FD maturity amount is as follows:
A = P (1 + r/n) ^n*t
A = Maturity amount
P = Principal
r = Rate of interest
n = Number of times interest gets compounded
t = Total tenor of the investment
Process of Using RBL’s FD Calculator
Following is a description of how to use the FD calculator provided by RBL:
- Go to www.rblbank.com
- Choose your fixed deposit type, tenure, deposit size, and interest rate.
- Enter the fixed deposit’s start date.
- Simply select “Calculate.”
You only need to enter a few facts into the calculator to determine the profitability of your fixed deposits. These specifics include the investment amount, interest rates, and investment tenure. To determine your ROI, you must also select the frequency of interest computation (return on investment).
- Investment Amount Method
The interest and maturity amounts are automatically displayed graphically by the calculator.
- Target Amount Method
The calculator assesses your potential return on investment as well as the amount of investment required to reach the goal.
The Calculator displays a tabular depiction of each year’s initial balance, interest earned, and closing balance under the approaches.
Benefits of the FD Calculator RBL
There are several benefits to using the RBL FD calculator. Some of the major benefits of the FD calculator RBL are listed below:
- You can compare various fixed deposit alternatives before deciding on the tenure and amount you want to invest.
- You may determine the precise amount of maturity and interest income produced in advance.
- The fixed deposit calculator’s user interface is amicable. Even novices or first-time visitors can quickly calculate their FD returns.
- Your fixed deposit calculator’s quick computations can save you time and anxiety.
You can compare the maturity amount you will get by entering the interest rates offered by different lenders before deciding where to open the FD account. When you invest a certain amount in a fixed deposit, you learn how much interest you will earn.
A fixed deposit is your best option if you’re searching for a risk-free investment strategy that will also help you build wealth. All you must do is enter a few facts (specifics such as investment amount, interest rates, and investment tenure) into the FD calculator to determine the profitability of your fixed deposits and Calculate the FD Interest amount. Open a Fixed Deposit Account and start a fixed deposit saving today with a minimum amount of just one thousand rupees!