Aditya Birla Sun Life Insurance Company Limited
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Whether the market is performing well or entering a bearish phase, and whether the economy is on an upswing or is inching towards recession, there is one investment option that never goes out of favour. And that is the humble fixed deposit (FD).
For generations now, fixed deposits have always been a part of most investors' portfolios. FDs help conservative investors preserve their capital and also earn interest in the process. And they help the risk takers reduce their overall risk exposure.
Today, even non-resident Indians (NRIs) can invest in FDs from abroad. This is because banks and non-banking financial institutions (NBFCs) offer special kinds of fixed deposits for NRIs. If you are an NRI looking to open an FD in India, you need to first get a better idea of how much your capital will grow if invested in an FD.
Here is where an FD calculator can help. Wondering what it is and how you can make use of it? This guide will give you a better idea of all the details. Let's begin at the basics.
A fixed deposit is a kind of investment where you deposit a lump sum amount with a bank of a non-banking financial institution (NBFC). This deposit is made for a specified period, known as the investment tenure.
Over the course of the investment tenure, you earn interest on your capital at a predetermined rate. This interest can either be paid out to you on a regular basis, or it can be reinvested into the FD again. In case you choose to reinvest your FD interest, you get the benefit of compounding, since your interest will earn more interest. And at the end of the FD tenure, you will receive the principal as well as the accumulated interest.
Banks and financial institutions also offer fixed deposits for NRIs. These investment schemes are exclusively for non-resident Indians. They work just like regular fixed deposits. As an NRI investor, you can invest a lump sum amount in an NRI FD of your choice. Your capital will then earn interest at the specified rate.
There are two main types of fixed deposits for non-resident Indians, as explained below –
No matter what kind of an FD you choose, it is essential to know how much your investment is likely to grow over the investment tenure. Calculating this manually can be tedious. Here is where an FD calculator can help.
Using an online FD calculator is fairly simple. All you need to do is follow the steps outlined below.
Step 1: Search for an FD calculator online.
Step 2: Enter the amount you wish to invest in the FD.
Step 3: Enter the tenure for which you wish to invest your funds.
Step 4: Fill in the rate of interest on your FD.
That's it. Once you enter these values, the online FD calculator will show you the total interest that you will earn from your deposit over the investment tenure. You can also see what the total corpus value at the end of the tenure will be.
An FD calculator is an online financial tool that shows you the total interest you will earn from your FD investment, at a specific interest rate and a given FD tenure. This online tool is free to use, meaning that you can use it as many times as you want, free of charge.
If you are a non-resident Indian who is planning to start a non-resident external FD or a non-resident ordinary FD, you can use an FD calculator to plan your investment better.
Using an online FD calculator is fairly simple. All you need to do is follow the steps outlined below.
Step 1: Search for an FD calculator online.
Step 2: Enter the amount you wish to invest in the FD.
Step 3: Enter the tenure for which you wish to invest your funds.
Step 4: Fill in the rate of interest on your FD.
That's it. Once you enter these values, the online FD calculator will show you the total interest that you will earn from your deposit over the investment tenure. You can also see what the total corpus value at the end of the tenure will be.
There are many reasons to quickly run the numbers through an FD calculator before you make your investment in an NRE FD or an NRO FD. Here are the top benefits of doing this.
This sums up the details of using a fixed deposit calculator. If you are a non-resident Indian keen on starting an FD in India, compare the rates of interest offered by different banks and NBFCs in the country. That way, you can maximise your returns and earn higher interest.
Alternatively, if you want the benefit of guaranteed1 returns (just like an FD), coupled with the benefit of financial protection for your family, you can consider investing in a life insurance plan that offers the added advantage of assured savings. The ABSLI Fixed Maturity Plan is one such policy. All you need to do is pay a single premium upfront, and you can earn guaranteed returns up to 6.55^%. Plus, you get to protect your loved ones in your absence!
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Get immediate income payout after 1 day of policy issuance^
Guaranteed# Income
Life Cover across policy term
Lumpsum Benefit at policy maturity.
Get:
₹33.74 lakhs~
Pay:
₹10K/month for 10 years
Guaranteed returns after a month¹
1 Provided all due premiums are paid
ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN No 109N137V12)
^ - Provided 0 year deferment & Annually in Advance payout frequency is chosen at the time of inception of the policy. Annually in Advance payout frequency is only available in "Annual" premium payment mode.
~ Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹ 42,360 (42,360*40= 16,94,400) + Maturity Benefit (₹16,80,000)= ₹ 33,74,400
#Provided all due premiums are paid
ADV/7/22-23/691