Features of Free Fixed Deposit Managers
High interest rates and safety of principal and return makes Fixed Deposit as the favourite investment choice among Indian investors. There are various type of deposit schemes available in the market. For instance an investor could invest either in a bank FD, or a corporate FD, or a PPF account etc. Also lot of the investors deposit money in different banks to avoid tax deduction at source (TDS). This makes the task of monitoring all the investment in fixed deposit a bit of a challenge.
There are many websites which offer solution for managing fixed deposit investments. But none of them provide the complete set of features that would help in managing the fixed deposit investments, hence an investor might have to choose the solution based on the comparative study of the features provided by these websites.
We have made an attempt to do a comparative study of the fixed deposit management solutions provided by different websites. We have started with the list of features that should be supported by the fixed deposit manager. Later on we have done the comparison of the features provided by various websites. We hope this will help the investors in choosing the right solution for their need.
- Consolidated view of all deposit maintained in different banks
- Support for adding different kind of FDs like Simple FDs, Recurring Deposits, Compouding FDs etc
- Knowing deposit values at any time (or knowing unrealized Interest)
- Interest earned till date
- Interest earned break down every year and month
- Future cash projection including interest & maturity amount
- Taxable Interest Income each financial year
- Automatic calculation of interest and maturity amount based on modelled deposit
- Email alert for upcoming maturity or interest payment
- Allow to update interest/maturity amount
- Handles pre mature withdrawals
| Features | Money Control | Et Now | Askkuber | Edelweiss |
| Consolidated view of all deposit maintained in different banks | Yes | Yes | Yes | Yes |
| Support for adding different kind of FDs like Simple FDs, Recurring Deposits, Compouding FDs etc | Yes | Yes | Yes | Yes |
| Knowing deposit values at any time (or knowing unrealized Interest) | Yes | Yes | Yes | Yes |
| Interest earned till date | No | Yes | Yes | Yes |
| Interest earned break down every year and month | No | No | Yes | No |
| Future cash projection including interest & maturity amount | No | No | Yes | Yes |
| Taxable Interest Income each financial year | No | No | Yes | No |
| Automatic calculation of interest and maturity amount based on modeled deposit | Yes | Yes | Yes | Yes |
| Email alert for upcoming maturity or interest payment | No | No | Yes | No |
| Allow to update interest/maturity amount | No | No | Yes | No |
| Handles pre mature withdrawls | No | Yes | Yes | No |
