FD return calculator: How to estimate your earnings on fixed deposits

You can use the calculator to calculate how much interest you can earn by investing in an FD for a specific amount of time. The maturity amount is determined using an online FD calculator with annual compound interest. 

The amount you place into a fixed deposit earns interest at the current FD interest rate. Utilising this interest, which continues to compound over time, will help you expand your savings. All of these parameters might be difficult and time-consuming to calculate manually. You may now estimate the interest gains and FD maturity amount without difficulty using the FD return calculator.

Using an FD return calculator, you can compare the maturity amounts and interest rates of FDs provided for different investment amounts.

What is a cumulative fixed deposit?

Your interest is compounded and paid at maturity when you invest in a cumulative fixed deposit. You may assess your results with the help of the online FD interest calculator. 

What is a non-cumulative fixed deposit?

You can get interest payments on a non-cumulative fixed deposit on a regular basis. These payout options include monthly, quarterly, half-yearly, and annual payouts. Use the FD interest calculator to calculate your interest and establish the distribution amounts according to your investment. 

How to use the online FD calculator?

The FD return calculator aids in calculating your investment’s interest and maturity amount. Follow the below procedures for utilising the FD calculator:

Step 1- Select a customer category, such as those under 60 or senior citizens.

Step 2- Move the slider to select the investment amount or enter the investment amount.

Step 3- Enter the tenure or use the slider to choose.

Step 4- Choose your preferred method of payment, such as monthly, quarterly, half-yearly, or yearly interest payments, or at maturity.

The formula for the FD maturity amount is A = P(1+r/n)^n*t

Here, A denotes the maturity amount, and P denotes the principal amount. r denotes the interest rate, and t denotes the number of years. n denotes the frequency of compounded interest.

Below are the interest rates and maturity amounts for customers under the age of 60 for an investment of Rs. 15,000.

Period in months Interest rate per annum Interest earned (Rs.) Maturity amount (Rs.)
12 7.40% 1,110 16,110
18 7.40% 1,695 16,695
33 7.75% 3,418 18,418
44 7.95% 4,857 19,857
60 7.65% 6,685 21,685

Below are the interest rates and maturity amounts for elderly citizens for an investment of Rs. 15,000.

Periods in months Interest rate per annum Interest earned (Rs.) Maturity amount (Rs.)
12 7.65% 1,148 16,148
18 7.65% 1,754 16,754
33 8.00% 3,536 18,536
44 8.20% 5,026 20,026
60 7.90% 6,938 21,938

How does the FD calculator help you?

The fixed deposit calculator is an instrument that assists you in calculating the figures related to your FD savings. It also offers several crucial advantages to facilitate your decision-making. It may help you get the highest FD rates in India. The advantages of the FD return calculator are listed below to help you see how it can benefit you. 

  • Approximate values with ease- The FD calculator provides an estimate of the maturity amount and interest amount you might get through FDs. The calculator will provide precise estimations of your return values based on changes in the deposit amount, interest rate, and tenor. Convenience is guaranteed, and one computation can be completed in just a few seconds.
  • Comparison and analysis tool- The ability to compare and contrast the returns of the NBFCs you are currently considering is another advantage of using the FD calculator online. You can adjust the interest rate, deposit amount, and tenor to your preferences to make different inferences.
  • Budget management assistance- The FD calculator can be the tool that assists you in making educated guesses about the figures around your annual budget. It can provide you with a clear idea of how you might distribute your annual income among savings, investments, and expenses. Additionally, it might give you crucial information to support your choices on the size of your deposit. You can choose to use the best FD calculators provided by financing companies like Bajaj Finserv.