Money Saver India
Best financial calculators online

Best financial calculators online

Doing your own research is the first step toward independent financial planning. These calculators will check values of investments and help you make the right calls for the future.

The web is full of free financial calculators. Most of these calculators can do the basics. For example, most home loan calculators won’t let you make adjustments for loan prepayment. Or most public provident fund (PPF) calculators will require you to hunt for the current interest rate yourself. However, there are a few calculators capable of performing all you need them to. Here they are:

Axis Bank’s EMI Calculator
Of the thousands of EMI calculators on the web, this is the most comprehensive. Powered by Big Bazaar, it works very smoothly. You simply move the dials to feed in the details of your loan and it changes the amount you owe your lender in total, how much you’ll be repaying of the principal and paying in interest each month in real time. No need to reload the page. Even better, it allows you to feed in a prepayment amount (and the prepayment charge). So if you feel you’ll be able to prepay a certain amount from the fifth year, and every year subsequently, you can also enter this in.
For what? To factor in effect of prepayment on a loan

Personal FN’s PPF Calculator
Can you remember what rate of interest the PPF scheme is giving this year? No. Well, that’s not surprising. The correct answer is 8.7%. And last year? It was 8.8%. This calculator will show you exactly how your PPF investments have grown in past years and how much you can withdraw or get a loan of based on when the account was opened. If you’ve invested different amounts annually, it even allows you to enter different values for each previous year. It also gives future estimates, based on how your money would grow if the PPF rate was 8%.
For what? Tells you how large a loan you can get against your PPF account

SBI Life’s Tax Calculator
Okay, so this one isn’t fast. But it’s a lot of fun to use. A character named Tax Ka Pandey takes you through the process, keeping you informed and making you feel a little good about yourself too. When you enter your salary, for example, it says ‘Waah! Mujhe to apni profession badal lena chahiye’ (Wow! I should make a career move). But it gets the deal done as well. It takes into account income from other sources, HRA, section 80D deductions, repayment of housing loan, and all the other deductions available.
For what? It makes taxes fun, with Tax Ka Pandey, but also factors in every deduction.

Moneycontrol’s Retirement Planning Tool
No matter what your age, it’s a calculator you should try. You’ll first be shocked by how inflation can eat into your money and then hopefully be motivated to achieve your target. What’s nice is that it allows you to take into account how your expenses will reduce once you’re retired. There’s also a handy tool for calculating your current monthly expenses if you’ve not been doing your math.
For what? To plan your retirement. Start now!

Corporation Bank’s RD Calculator
Simple and effective, this recurring deposit calculator allows you to calculate the value of your investment within seconds. Even if you don’t have a recurring deposit, which is quite likely, you can use it to figure out the annualized and absolute potential returns of your mutual fund SIP. Like all the other calculator we’ve mentioned here, bonus points for being a quick-loading page.
For what? To calculate effective yield of mutual fund SIP/bank RD

HDFC’s SIP Calculators
If you need a jolt every now to follow your financial plan, check out this easy-to-use calculator that simply tells you how much you’ll need to invest every month to reach a certain goal. You tell it how much you wish to save and what returns you’re expecting and it will immediately tell you how much you’ll need to invest every month if you want to achieve your goal in 5, 10, 20 or 30 years.
For what? To know how much you need to invest monthly to achieve a certain goal.

IIFL’s Loan against Security Calculator
It’s a car loan EMI calculator, but works just as well if you’re taking a loan against a security that earns interest, like a fixed deposit (FD). This tells you what impact the investment has on your EMI. This is the only calculator we’ve ever found that lets you do this. If your FD is being compounded annually, you can even factor this in. A big help because this calculation would otherwise be a little tedious.
For what? To check how the returns of one investment reduce your EMI

Value Research’s Mutual Fund Return Calculator
Finding out how your mutual fund is doing is never this easy. If you just want to find out the growth of your SIP, no matter which mutual fund you’ve invested in, in percentage terms, look up this calculator. It has the details of every mutual fund, from large cap equities to ultra-short-term funds of every asset management company there is. It also tells you how a lumpsum investment would have performed over the same time period.
For what? Finding out how any of your mutual fund investments have performed.

HDFC Securities’ FD Calculator
There’s nothing to calculating returns on fixed deposits, but simply because the page doesn’t need to reload while it does its job is enough reason to recommend this calculator for us. The bar graph doesn’t hurt either.
For what? Quickly calculating returns from a fixed deposit.

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