A Fixed Deposit (FD) is a popular term investment provided by banks and Non-Banking Financial Companies (NBFCs). These deposits often yield a higher interest rate, subject to specific terms and conditions. When you invest in an FD, your money is locked in for a predetermined period, which can range from as short as 7 days to as long as 10 years.
To make informed decisions and maximize the benefits of an FD, you can rely on an FD calculator, a user-friendly tool available on the Bondbazaar website.
Calculating the maturity amount of an FD can be a daunting task involving various variables. An online FD calculator simplifies this process and provides accurate results effortlessly. Here's how it can help you:
Effortless Maturity Calculations: FD maturity calculations can be intricate due to multiple factors. A Fixed Deposit calculator takes care of the complexity, delivering precise figures at the click of a button.
Time-Saving: It saves you a significant amount of time that would otherwise be spent on intricate calculations.
Comparison Made Easy: With a Fixed Deposit return calculator, you can effortlessly compare the maturity amount and interest rates offered by different financial institutions. This information empowers you to make well-informed decisions about your investments.
There are two types of FDs: simple interest FDs and compound interest FDs. Bondbazaar provides calculators for both.
For simple interest FDs, the formula is:
M = P + (P x r x t/100), where:
For example, if you deposit Rs. 1,00,000 for 5 years at a 10% interest rate, the equation reads:
M = Rs. 1,00,000 + (1,00,000 x 10 x 5/100) = Rs. 1,50,000.
For compound interest FDs, the formula is:
M = P + P {(1 + i/100)^t - 1}, where:
For the same variables, a compound interest FD will accrue:
M = Rs. 1,00,000 {(1 + 10/100)^5 - 1} = Rs. 1,61,051.
Using our FD calculator is a straightforward process:
Ensure you have all the necessary data at hand.
Enter the variables into the designated slots as specified in the formula.
The FD maturity amount will be instantly displayed.
Precise Maturity Amount: You can accurately determine the amount you'll receive at the end of your FD's maturity period, enabling you to plan your financial future effectively.
Free and Unlimited Use: Both calculators are available for unlimited use by registered users without any cost.
Effortless Comparison: Easily compare the maturity amounts offered by different financial institutions to make informed investment decisions.
Apart from the Fixed Deposit calculator, we offer a range of other financial planning calculators, all of which are free to use and can be employed as frequently as needed to help you achieve your financial goals.
For Bond Price Calculation, Go To Bond Overview on Our Terminal.
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