FD Calculator

A fixed deposit, a term investment option, is provided by various banks and NBFCs. These deposits generally propose a higher interest rate, subject to specific terms and conditions. The sum that is deposited in these accounts is held for a fixed duration, which can range from 7 days to 10 years. To ascertain the interest and the total amount that will be acquired at maturity, an FD calculator can be utilized. This user-friendly tool is easily accessible on the Emininja website.

How can an FD calculator help you?

Calculating the maturity amount of a Fixed Deposit (FD) can prove to be a convoluted and arduous process. However, an online FD calculator is a convenient tool that can simplify this process effortlessly. The complexity of FD maturity calculations lies in the involvement of multiple variables. A Fixed Deposit calculator, on the other hand, is designed to handle these intricacies and provide accurate figures with just a single click. Its ability to simplify complex calculations can save you a significant amount of time. Furthermore, a fixed deposit return calculator can prove to be invaluable when comparing the maturity amount and interest rates of FDs offered by different financial institutions. Armed with all the relevant figures, you can make an informed decision.

The formula to determine FD maturity amount

The methodology to ascertain the maturity amount of a fixed deposit (FD) is of paramount importance. It is noteworthy that there are two types of FDs available, namely simple interest FD and compound interest FD. For both of these types, Emininja has designed calculators to facilitate the calculation process. In the case of a fixed deposit calculator for simple interest FD, the formula employed is:

M = P + (P x r x t/100)

where P denotes the principal amount deposited, r signifies the rate of interest per annum, and t represents the tenure in years.