The FD or Fixed Deposit calculator helps to determine the FD maturity value and Interest Income depending on the principal amount, tenure, and Fixed Deposit interest rates. Some Online FD calculators of financial institutions allow users to calculate their interest income based on the monthly, quarterly, half-yearly, yearly, and reinvestment interest payout options.
Other FD calculators online let their users calculate their FD interest income on a simple interest basis.
How to Use Payrazo’s Online FD Calculator?
Follow these steps to use Payrazo’s Online FD calculator:
- Enter the investment amount in the Payrazo FD calculator.
- Enter the interest rate
- Enter the tenure in months or years
- Select the ‘Calculate’ button to calculate the estimated amount and total interest amount
Note: The FD maturity amount depends on the FD rates, deposit amount, tenure, and Type of FD selected.
Benefits of FD Interest Rate Calculator
The benefits of using a fixed deposit calculator are,
- User-friendly- Online FD calculator will make interest computation quick and easy. Users are requested to enter their basic details in the online calculator to get their results.
- Calculate Maturity Amount- Every depositor must know the expected amount they will receive at the end of their investment tenure when investing in an FD scheme.
- Accurate Calculation- Depositors can save time in making complex calculations by using their online FD calculator for calculating their FD interest amount and maturity amount, thus eliminating the risk of errors.
- Expert advice on FD selection- The fixed deposit interest rates vary from one financial institution to another. Users can compare, calculate, and understand their maturity amounts and interest income. This will help depositors in choosing the best FD scheme from these inputs.
Why use Payrazo’s Online FD Interest Rate Calculator?
- To Calculate the Fixed Deposit Maturity amount at the end of your tenure
- To Calculate the periodic interest payouts precisely
- To make efficient financial planning and investment options that suit their financial goals.
- To use these calculators for free and for multiple times by the users.
The FD calculator is free for any user and can be used any number of times to plan their investment. The formula for Calculating FD Maturity.
The formula for Calculating FD Maturity
Here is the formula for calculating Fixed Deposit maturity:-
Maturity Amount = P(1+r/n)A\(n*t)
The denotation of the values in the formula is as follows:
- ‘P’" is the Principal Investment Amount in FD
- ‘r’ is the interest rate
- 'n’ is the quantity of compounding per year
- 't’ is the quantity of compounding per year
