Fixed Deposit Calculator
Most parents dream of and start saving money from the birth of their child. All parents want to provide the best for their children. These savings can be anything like shares, fixed deposits, mutual funds, and more. However, the most secure and easy-to-comprehend option is an FD. Furthermore, it is accessible as all banks and NBFC (non-banking financial companies) offer this service. Additionally, these deposits offer a higher rate of interest, which is beneficial for the long term. With the FD Calculator at calculatoremi.com, you can calculate the amount that you’ll receive after the completion of the term.
Fixed Deposits are subject to certain terms and conditions. Furthermore, the amount you keep in it is locked for a set period which can vary between days and years. Therefore, by optimizing an FD calculator, anyone can determine the interest and the amount they will get when the deposit matures. Also, it is simple to use and gives correct and error-free results quickly.
How can an FD calculator help you?
It takes a lot of time and effort to determine an FD’s maturity amount. One can quickly and easily calculate it using an online FD calculator. Furthermore, you can access it anytime on various smart devices.
- Calculations for FD maturity are difficult and involve many variables. With simply the push of a button, a fixed deposit calculator does all the work and provides you with precise values.
- It makes complex and time-consuming calculations effortless.
- Every applicant or potential investor can compare the amount they receive at maturity and the interest rates of FDs offered by various financial institutions using our calculator. When you have all the facts and information at your disposal, you can make a wise decision by choosing the financial entity offering the best service.
How can an FD calculator help you?
It takes a lot of time and effort to determine an FD’s maturity amount. One can quickly and easily calculate it using an online FD calculator. Furthermore, you can access it anytime on various smart devices.
- Calculations for FD maturity are difficult and involve many variables. With simply the push of a button, a fixed deposit calculator does all the work and provides you with precise values.
- It makes complex and time-consuming calculations effortless.
- Every applicant or potential investor can compare the amount they receive at maturity and the interest rates of FDs offered by various financial institutions using our calculator. When you have all the facts and information at your disposal, you can make a wise decision by choosing the financial entity offering the best service.
Fixed Deposit Calculation Formula
You can choose between two different forms of FDs: simple interest FDs and compound interest FDs. Both FD types may be calculated here. The calculator employs the standard formula for fixed deposit calculation.
Formula: M = P + (P x r x t/100), where –
- P denotes the principal amount you deposit
- r denotes the annual interest rate
- t represents the tenure or duration in years
For instance, if you deposit a sum of Rs. 2,00,000 for 5 years at 10% interest, the equation reads –
M= Rs. 2,00,000 + (2,00,000 x 10 x 5/100)
= Rs. 3,27,723
For compound interest FD, the fixed deposit return calculator utilizes the following calculation–
Formula: M= P + P {(1 + i/100) t – 1}, where –
- P denotes the principal amount you deposit
- r denotes the annual interest rate
- t represents the tenure or duration in years
For instance, if you take the same variables, the compound interest FD will be,
M= Rs. 2,00,000 {(1 + 10/100) 5-1}
Or, Rs. ₹3,29,061.79
How to use our FD calculator?
This section entails step-by-step instructions to use an FD deposit calculator conveniently. Ensure to adhere to them as prompted for practical results.
- To begin with, ensure you have access to all the necessary information.
- Fill in the variables in the formula’s designated places as instructed.
- Finally, tap on the calculate button to instantaneously get the FD maturity amount.
Advantages of using Calculator EMI’s FD Calculator
Here is a rundown of additional benefits of using our calculator:
- Get the precise amount you will be entitled to at the conclusion of your maturity period and make future plans appropriately.
- Our calculator is openly available to registered users for unrestricted use and doesn’t require any signup or login to use the tool.
- It’s simple to compare the maturity amounts of various financial institutions to select the one that gives the best returns.
