FD Calculator
1. What is an FD Calculator
An FD Calculator is a tool that helps you estimate the maturity amount and interest earned on a fixed deposit, based on deposit amount, rate, and tenure.
2. How does the FD Calculator work
You need to enter the principal amount, interest rate, and duration. The calculator uses compound interest formulas to show your total maturity value and interest earned.
3. What is the formula used in FD calculation
The formula is:
M = P × (1 + r/n)^(n × t)
Where M = Maturity amount, P = Principal, r = annual interest rate, n = compounding frequency, t = time in years.
4. Is the interest compounded monthly or quarterly
Most banks compound FD interest quarterly. However, some may use monthly, half-yearly, or annual compounding depending on the scheme.
5. Is the FD Calculator accurate for tax-saving FDs
Yes, it shows correct estimates. But it does not account for TDS (Tax Deducted at Source). Final maturity may vary if tax is applied.
6. Can I use this for recurring deposits (RD)
No, RD and FD interest calculations are different. This calculator is meant only for lump-sum fixed deposits.
7. Can I calculate FD interest for senior citizen rates
Yes. If you are a senior citizen, simply enter the applicable higher interest rate to get accurate maturity value.
8. Is this FD Calculator free to use
Yes, our FD Calculator is 100% free and available online without the need for any registration or downloads.