Total Interest:
₹44,994
Maturity Amount:
₹144,994
Online Calculator for Fixed Deposit
Many banks and NBFCs offer a certain type of term investment called Fixed deposit (FD). FDs are typically known to offer a greater interest rate. These are also subject to certain terms and conditions but independent of any market fluctuations.
FDs are quite a common form of investment in India. The amount deposited in an FD is locked in for a predetermined period of time which ranges from 7 days to 10 years.
The rate of interest for an FD is fixed at the time of the deposit opening. An FD calculator can help you evaluate the rate of interest and the amount that you can get at the time of maturity.
You can simply use Paisabytes’ FD calculator online to determine fast and easily.
How to use FD Calculator?
Using Paisabytes’ FD calculator is super easy! Just enter 3 simple details:
- Investment Amount
- Rate of Interest
- Tenure
After entering all the details accurately, you will get both the total maturity amount as well as the interest earned on it. Paisabytes’ FD calculator is completely free with unlimited access to everybody online. Make your life easier and save time by avoiding tedious and complex calculations.
Fixed Deposit Calculation Formula
You can calculate the Fixed Deposit maturity amount manually using the following formulae.
1) Simple interest FD calculation formula:
M = P + (P x r x t/100),
Where M is the maturity amount that you get,
P is the principal amount that you deposit,
r is the rate of interest per annum, and
t is the tenure in years.
2) Compound interest FD calculation formula:
M= P + P {(1 + i/100) t – 1},
Where M is the maturity amount that you get,
P is the principal amount that you deposit,
i is the rate of interest per annum, and
t is the tenure in years.