FD Calculator
Your Monthly Loan EMI ₹4,825
How Can an FD Calculator Help You with Fixed Deposit Returns?
Using an FD calculator can make things easier for you in several ways:
- Simplifies Complex Calculations: The FD calculator does all the math for you.
- Saves Time: You get results faster without doing manual calculations.
- Helps You Make Better Decisions: It shows maturity amounts and interest rates from different banks, helping you decide wisely.
Advantages of Using an FD Calculator
Here are some benefits of using RatingOK's FD interest calculator:
- Accurate Results: It calculates maturity amounts accurately, so you can choose the best tenure.
- Compare Interest Rates: Input rates from different banks to find the best deal.
- Avoid Errors: The calculator ensures you get the correct numbers every time.
- Faster Calculations: It’s quicker than using a calculator or spreadsheet.
- Better Renewal Choices: Compare maturity amounts and make smarter renewal decisions.
What Are Cumulative & Non-Cumulative Fixed Deposits?
- Cumulative Fixed Deposit: Interest is compounded and paid out at maturity.
- Non-Cumulative Fixed Deposit: Interest is paid periodically (monthly, quarterly, half-yearly, or yearly).
How to Calculate Compound Interest with RatingOK's FD Calculator
To calculate compound interest, simply input your data into RatingOK's FD calculator, click “Calculate,” and it’ll give you the exact amount of interest you’ll earn.
How is FD Interest Calculated?
There are two ways to calculate FD interest: simple interest and compound interest.
Simple Interest:
Simple interest is calculated based on the principal, interest rate, and time. For example:
SI = P x R x T / 100
Example: Rs.1,00,000 at 10% for 5 years = Rs.50,000 interest, maturity amount = Rs.1.5 lakh.
Compound Interest:
Compound interest is calculated on both the principal and the accumulated interest. Example formula:
A = P (1 + r/n) ^ (n * t)
Where:
- A = Maturity amount
- P = Principal
- r = Interest rate (decimal)
- n = Number of times interest is compounded per year
- t = Number of years
How to Use RatingOK's FD Calculator
For a deposit of Rs.10,000 at a 10% quarterly compounding interest rate for 3 years:
A = 10,000 (1 + 0.1/4) ^ (4 * 3)
A = 13,449 (approximately)
Compound Interest = 13,449 - 10,000 = Rs.3,449
Explore Other Financial Calculators
FAQs on FD Calculator
- What Factors Affect FD Interest Rates? - FD rates depend on the duration, applicant's age (senior citizens may get higher rates), and economic conditions.
- Is There a Fee for Using the RatingOK FD Calculator? - No, it’s completely free to use.
- How is the FD Amount Calculated? - Cumulative FDs calculate interest over the whole duration and pay it at maturity. Non-cumulative FDs pay periodically.
- Is the FD Calculator Free to Use? - Yes, it’s free to use anytime.
- How to Calculate FD Maturity Amount? - Use the formula: MV = (P x r x t) / 100, where MV is maturity value, P is the principal, r is the interest rate, and t is the duration.
- Which Tenure Uses Simple Interest? - Simple interest is usually for FD durations under 6 months.
- Do I Need Documents to Use the Calculator? - No documents are required.
- How Many Times Can I Use the FD Calculator in a Day? - You can use it as many times as you want.
- Can I Use the FD Calculator on My Mobile? - Yes, it works on mobile browsers as well.
- How Many FD Interest Rates Can I Compare at Once? - You can calculate one FD scheme at a time.
- How Many Years Will It Take for an FD to Double? - Use the formula 72 / Interest Rate. For 8% interest, Rs.20,000 will double in 9 years (72 / 8 = 9).
- Is Monthly Interest Paid on FDs? - Some FDs offer monthly payouts; others pay the interest with the principal at maturity.
- Does FD Offer Compound Interest? - Whether your FD earns compound interest depends on the bank, FD amount, tenure, and type.
- What is the FD Interest Rate for Senior Citizens? - Senior citizens typically get 0.25% to 0.50% higher interest rates than regular rates.