The Fixed Deposit calculator is one safest and most widely used instruments in India. It is the need and necessity of everyone whosoever is planning to invest in FD schemes. Online there are many financial institutions available that offer you the flexibility of using an FD calculator free of cost online. The main reason for the increasing popularity of the FD calculator is that it helps you analyze the interest and maturity amount based on the investment.
It takes into consideration the principal amount, applicable rate of interest, and tenure to calculate the maturity amount at the end. So, before you invest in a fixed deposit, this calculator gives you an idea of your earnings in advance, thus helping you make a wise financial decision.
You can use the FD maturity calculator easily, there is no rocket science. All you need to do is click on the Fixed deposit calculator online and choose the type of investment, tenure, and principal amount. Once you share the data in the fixed deposit interest calculator, you will know the total maturity amount, and the interest you earn on principal will be automatically displayed.
There are two ways of calculating interest on Fixed Deposit Calculator :
Where
SI is Simple interest
P is Principal Loan Amount
R is Rate of interest
T is Tenure of the fixed deposit
For example : Let's assume, you are spending Rs 30,000 for 5 years at an interest rate of 10%
=> 30000x5x10/100
= > Rs 15000
Where
A is Maturity Amount P is Principal Loan Amount
n number of compounding in a year
r is Rate of interest (in decimals)
t is number of years
For example : Suppose Invested Rs 15000 for 3 years at the rate of 10%
=> 10,000 [1+ (0.10/4)] ^ (4*3)
=> 10,000 (1.025) ^ (12)
=> ₹13,449 (approximately)