Use Fixed Deposit Calculator to calculate how much interest you can earn on investment on the basis of amount, deposit option, & duration. The value of the investment at maturity is determined after interest compounding frequency, such as monthly, quarterly, half-yearly or annual basis, is taken into consideration.
The fixed deposits calculator that lets you identify the maturity amount and the interest earned when you open a Fixed Deposit. With the help of FD Calculator, applicant can get to know how much do he/she can earn though a Fixed Deposit.
About Fixed Deposit – Fixed Deposit saving scheme for specified time period. It helps you to earn interest on your invested money, either through compound or simple interest on the principal amount. The interest rates on Fixed Deposit are typically higher than the Savings accounts. Since your money is locked for specified period (as per selected scheme). There are two type of categories under FD scheme one is for Normal Person and another is for Senior Citizen.
Type of Fixed Deposit Schemes
- Quarterly Payout
- Monthly Payout
- Short Term
Fixed Deposit Calculator
Fixed Deposit Interest Calculator offer you convenient online financial tool. This calculator can be accessed anytime and anywhere online. No need to do complex & lengthy calculations, use fixed deposit calculator to calculate the total amount and interest that you will yield at the end of its maturity period.
How Fixed Deposit Calculator work?
It is easy to use. Just you need to enter desired principle amount, rate of interest offered by banks or financial institutes and duration.
Investment Amount – Investment in a Fixed Deposit is made only once and the minimum amount for opening an FD varies in case of different financial institutions. You can invest more than Rs 10 Crores.
FD Interest Rate – Rates of interest on Fixed Deposit are higher than savings accounts, depend upon the FD amount and duration. Interest rate varies from bank to bank or financial institutes. The interest payout frequencies are usually done on a quarterly, half-yearly or yearly basis. Interest rate basically depend on duration, shorter duration lower will be interest rate, longer maturity period higher will be the FD interest rate.
Fixed Deposit Duration – Fixed Deposit has a specified duration or time period for which the invested money gets locked. You can avail an FD for a duration of anywhere minimum 7 days and up to 10 years. Fixed deposit duration depends on bank to bank or financial institutions. Rate of interest is also depends on duration.
Fixed Deposit Interest Rate Calculator
FD Calculation for Rs. 1,00,000/- of principle amount, at different interest rates and at different duration in years.
|Duration||Principal Amount||Interest Rate||Maturity Amount||Interest Earned|
|1 Year||100000||6.65%||Rs. 106817||Rs. 6817|
|2 Year||100000||6.65%||Rs. 114100||Rs. 14100|
|3 Year||100000||6.70%||Rs. 122059||Rs. 22059|
|4 Year||100000||6.70%||Rs. 130444||Rs. 30444|
|5 Year||100000||6.70%||Rs. 139406||Rs. 39406|
|6 Year||100000||6.75%||Rs. 149424||Rs. 49424|
|7 Year||100000||6.75%||Rs. 159768||Rs. 59768|
|8 Year||100000||7.75%||Rs. 170829||Rs. 70829|
|9 Year||100000||7.75%||Rs. 182655||Rs. 82655|
|10 Year||100000||7.75%||Rs. 195300||Rs. 95300|
If you select long duration for same principle amount you can earn more interest at same amount.
|Principle Amount||Duration||Interest Rates||Maturity Value||Interest Value|
|Earning||If you choose 1 year of duration you earn Rs. 13740 as a interest, if you select 2 years of duration then you earn Rs.28424, if you select 2 years of duration you can earn Rs. 14684 more in compare with 1 year of duration. If you select 3 years of duration then you earn Rs. 15694 compare with 2 years of duration. and Rs. 30378 compare with 1 year.|
FD Interest Calculation Formula
This is A = P (1 + r/4/100) ^ (4*n) and A = P (1 + r/25)4n.
A = Maturity Amount
P = Deposit Amount
n = Compounded Interest Frequency
Benefits of Fixed Deposit
- FD Investment in and provide assured returns for investment.
- It helps to develop the habit of saving, because Fixed Deposit is locked for a specified time-period.
- FD provides better returns as compared to a savings account as the interest rate is higher. In a savings account, you can earn interest at up to 6%, whereas in an FD, interest rates start from 7%. Read more about the advantages of fixed deposit investment
- Applicant can withdraw the invested amount in a FD, before the maturity period, just you need to pay nominal charge.
- Interest amount can be paid out at maturity, monthly or annually basis depending on plan.
- Flexible duration options and applicant can fix money as per schemes. Applicant can invest money for a duration ranging from 1 week to 10 years.
Simple Interest Versus Compound Interest
Simple interest is based on the principal amount, while Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods. So compound interest is helpful to earn more interest in the same duration as compare with simple interest. Fixed deposit scheme is based on compound interest, so its a good scheme to earn more interest.