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FD Calculator

₹
250000 ₹ 5000 ₹ 10000000
12 1 25

Result

Invested Amount (in Rs.)

₹ 2,50,000

Estimated Returns (in Rs.)

₹ 7,03,348

Maturity Amount (in Rs.)

₹ 9,53,348

Explore Investment

Fixed deposits are one of the oldest and most reliable investment plans in our country. Being one of the safest investments, they are ideal for risk-averse investors who want a stable income. As an investor looking for the best FD to put your money in, you should always check the interest rates and returns offered by different banks using an FD calculator. 

Below is a detailed overview of how these calculators work and their features, benefits and more.

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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What is Fixed Deposit Calculator?

When investing in fixed deposits, you will notice that the rate of interest is based on the FD tenure and varies from bank to bank. Calculating the maturity value and considering the compounding effect often becomes a bit troublesome. In such a scenario, having an FD calculator is quite useful. FDs can be used as one of the one-time investment plans as well.

Our online fixed deposit calculator is an easy-to-use tool that can help you determine the total maturity value along with segregated interest and principal components. It also allows you to select compounding mode as perapplicability i.e. monthly, quarterly, half-yearly or on an annual basis.

FD Calculation Formula

The FD calculator is based on a mathematical formula of compound interest, which is as follows:

M= P (1 + r/n) ^nt

Here,

P = Principal amount

r = Interest rate

t = Tenure

n = Number of times interest is compounded

Let’s say that Ms Portia invests Rs. 2 lakh in an FD that compounds quarterly at an interest rate of 7% p.a. for a tenure of 5 years. To calculate the fixed deposit interest, we use the above formula:

M = Rs. 2,00,000 (1+7/4) ^ (4 x 5)

M = Rs. 2,82,956

The interest payout will be Rs. 82,956.

How Can an FD Calculator Help You?

An FD calculator can help in various ways, which are as follows:

  • Manual calculation of a fixed deposit can often become troublesome. Here, a fixed deposit calculator can ease out the task and get you precise and accurate results.

  • It not only removes the hassle of manual calculation but also helps you to save a considerable amount of time.

  • It also enables us to compare different bank FDs with clarity in differences in their maturity values. A small difference in interest rate can lead to a huge difference in the maturity value.

How to Use an FD calculator?

Here are the steps guiding you to use a fixed deposit calculator efficiently:

Step 1: Firstly, navigate to an online FD calculator and use the slider to enter the FD amount.

Step 2: Then, move the slider or manually enter the rate of interest and tenure (years/months/days).

Step 3: Then choose the type of interest pay-out, such as it can be cumulative pay-out i.e. interest pay-out takes place only at the maturity, quarterly pay-out, monthly pay-out and short term.

Step 4: The FD  calculator will now show you the maturity value, total interest and total investment.

Advantages of Using an FD Calculator

Here are some of the benefits of using an online FD calculator:

  • Accurate Results

    • Online FD calculators are highly accurate and show precise results considering factors such as tenure, deposit amount, interest rate and interest pay-out nature. Hence, these are highly reliable tools with maximum accuracy.

  • Easy to Use

    • Using an FD calculator is one of the most convenient things to do. You simply have to move the slider or enter the amount manually in the respective fields.

  • Time-Saving

    • FD calculators are extremely time-saving, as they show you the result in no time.

  • Comparing Maturity Value

    • It helps in comparing fixed deposits offered by different banks. A small difference in interest rate can have a huge impact on maturity value.

  • Planning

    • It helps in determining the maturity value in advance enabling enhanced financial planning.

NRI Fixed Deposit Calculator

An NRI fixed deposit calculator is almost similar to a normal FD calculator which helps in determining maturity value at the end of tenure. Here an NRI is only required to enter certain parameters such as loan amount, tenure, interest rate and the interest pay-out nature.

Using the fixed deposit calculator given above, you can get instant and exact results that will help you compare FDs from different banks. The tool is designed to be simple and intuitive; simply enter the three required values and you will get the results. With online FD calculators so easily available, there is no need for complex manual calculations. 

FAQs on FD Calculator

1 Is the online FD calculator free to use?

Yes, our online FD calculator is absolutely free to use and you can use it as many times as you wish. And it does not have any charges associated with it.

2 How to use an FD calculator online?

Using our FD calculator online is quite simple and easy. Simply navigate to the online FD calculator and enter the values in the respective field either manually entering the figures or by moving the slider. And it will show you the result in no time.

3 How is the interest on FD calculated?

The interest on a fixed deposit is compounded periodically and it can be calculated by using this formula: A = P(1 + r/n)^nt. Where A is the maturity value, P = Principal, r = rate of interest, t = tenure and n = compounding frequency.

4 How to calculate the FD maturity amount?

Calculating the maturity value of a fixed deposit is quite simple. You will have to enter the values in the respective field either manually entering the figures or by moving the slider. It will show you the maturity amount along with the interest component in no time.

5 How is a premature FD penalty calculated?

In case of premature withdrawal of a fixed deposit, the penalty calculated usually ranges from 0.5% to 1% on the pre-decided interest rate. The tenure of FD is basically from the date of creating the deposit till the day it was held with the bank.

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