Fixed deposits are very popular among investors as they give risk-free returns. Moreover, if you choose to invest in a fixed deposit scheme of 5 years or 10 years, the amount invested is also allowed as a tax-free deduction from your taxable income under Section 80C up to a maximum of INR 1.5 lakhs. Thus, besides giving risk-free returns, fixed deposit also give tax benefits.
Since fixed deposits are popular, almost all banks and financial institutions offer a scheme of fixed deposit for investors looking to invest. These financial institutions offer attractive interest rates on their fixed deposit schemes and so it becomes difficult to find out which deposit scheme offers the highest return. This difficulty, however, has been removed by Bajaj Finance’s FD calculator which helps calculate the maturity amount and the interest earned on your money in a fixed deposit scheme.
Read completely: How to calculate your FD interest with Bajaj Finance FD Calculator?
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