FD Calculator

FD Calculator

Fixed deposit is a financial instrument offered by banks and financial institutions in India. It is considered as one of the safest investment options that offer high returns with flexible tenure options.

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Fixed Deposit or FD, also known as a term deposit in banking parlance, is a safe investment option to strike the right balance in one’s financial portfolio. FD Calculator is a tool that helps in finding the right balance in terms of how much to invest in FD and for how long.
Let us know in detail about the features and benefits of using a fixed deposit calculator.

What is an FD Calculator?
A fixed deposit calculator is a tool designed to get an estimate about the maturity amount that the investor should expect at the end of a chosen tenure for a specified deposit amount at the applicable rate of interest.
FD calculator is a tool that helps in calculating how much interest one would earn on a fixed deposit. It uses the deposit amount, FD interest rate and tenure of the fixed deposit to calculate the maturity amount. The maturity amount is what one gets at the end of the FD tenure. It consists of the total interest earned on the principal (deposit amount).

How to Use FD Calculator?
To use the FD calculator available here, at Paisabazaar.com, follow the steps stated below:
  • Enter the deposit amount in the first field (Fixed Deposit Amount)
  • Enter the interest rate in the next field (Rate of Interest)
  • Enter the tenure duration (the period for which you want FD to be active)
  • Note: You can choose to enter FD duration in months or years.

Hit the “Calculate” button. The estimated maturity amount will be displayed in the table below the FD Calculator tool. You can also check the total interest in the column next to the maturity amount.

Why should you use FD calculator?
Just like any other financial decision, investing in an FD also entails ticking one’s budget and make it work in unison with the individual’s financial goals.
Fixed deposit is all about minimizing risks and guaranteed returns. If you invest in the market (like equity mutual funds), there remains a considerable risk. Your FD investment can help absorb losses, if any, to a certain limit. For this, you should know how much to put into your FD account. And this can be easily estimated using the FD Calculator by Moneyhaat.
Fixed deposit calculator also helps in comparing the various types of FD schemes offered by banks and other financial companies. One can comprehend which scheme provides the best returns at the desired tenure.