A fixed deposit calculator helps you estimate the returns on your fixed deposit investments. By entering the deposit amount, interest rate, and tenure, you can instantly calculate the maturity amount and interest earned. This tool is essential for fixed deposit planning and investment decisions.
The FD calculation uses the compound interest formula:
A = P × (1 + r/100)t
Where:
A fixed deposit is a financial instrument provided by banks that offers a higher rate of interest than a regular savings account.
FD interest is calculated using the compound interest formula based on the principal amount, interest rate, and tenure.
Your FD returns are affected by three factors: principal amount, interest rate, and deposit period.
Yes, you can withdraw your FD before maturity, but it may attract a penalty.
Yes, FDs offer higher interest rates than savings accounts but with less liquidity.
A higher interest rate increases your maturity amount, while a lower rate decreases it.
Compounding allows your interest to earn interest, significantly increasing your returns over long periods.
Yes, the interest earned on FDs is taxable as per your income tax slab.