You may consider investing a large portion of your savings into FDs so that they give you high returns on maturity, just in time for your retirement. So, rather than choosing an issuer in an ad-hoc manner, follow the steps below to calculate your FD return in advance using a FD Calculator. If you prefer the latter, invest in a cumulative FD, and, for regular payouts choose a non-cumulative FD. Use the FD calculator to see how when you change the tenor and compounding frequency, the maturity amount changes. Step 3: Search the market for the highest FD interest rate and then calculate to compareWhile you will get the results after you complete step two, remember that numerous banks and NBFCs offer FDs on varying interest rates.

Source: The Telegraph September 27, 2018 09:45 UTC