FD Calculator

Rs.
%
You Invested Rs. 50000
Maturity Value Rs. 73212.36 Interest earned Rs.23212.36

Earnings Comparison under Different Frequencies

Frequency Maturity Value Interest Earned
Simple Interest Rs. 69250.00 Rs. 19250
Compounded Yearly Rs. 72451.69 Rs. 22451.69
Compounded Half Yearly Rs. 72951.63 Rs. 22951.63
Compounded Quarterly Rs. 73212.36 Rs. 23212.36
Compounded Monthly Rs. 73390.39 Rs. 23390.39

Features of FD Calculator

The Fixed Deposit Calculator is a tool that you can estimate the maturity value and interest earned on your fixed deposit investment.

Here's how it works:

  • Minimum Deposit Requirement: The least amount necessary to open a Fixed Deposit (FD) is ₹100, though this amount may differ among banks and Non-Banking Financial Companies (NBFCs).
  • Fixed Tenure Options: Select the duration of your FD, which can range from as short as 7 days up to 10 years.
  • Early Withdrawal Facility: Early withdrawal is permitted,but you will albeit with the imposition of a penalty interest.
  • Various Interest Payment Choices: You can receive the interest payments monthly, quarterly, semi-annually, or annually. Alternatively, you can opt for a cumulative option, where interest earned on the principal is reinvested, affording you the advantages of compound interest.

formulas for FD Calculator

  • For Simple Interest: Maturity Value = Principal * (1 + (Interest Rate * Tenure) / (100 * Tenure Period))
  • For Compound Interest: Maturity Value = Principal * (1 + Interest Rate / (100 * Compounding Frequency)) ^ (Tenure * Compounding Frequency / Tenure Period)

Reasons to choose FD Calculator

  1. Guaranteed returns on investment.
  2. Tax benefit of up to Rs 1.5 lakh under Section 80C available only on tax-saving FDs.
  3. You can choose a bank that offers a high interest rate and suits your plan from the Interest Rates Comparison tables.
  4. The minimum amount set by banks and NBFCs for opening a FD is generally set at Rs. 1,000.
  5. Senior citizens get an additional interest (usually up to 0.50%, approximately) on the same FD scheme of others. For senior citizens, Banks like SBI, ICICI Bank and HDFC Bank are offering extra interest of up to 0.50% on the existing preferential FD interest rates.