Fixed deposit is a term investment which is offered by various banks and NBFCs. As per some terms and conditions this deposits offer a higher rate of interest. The amount of money deposited in this deposits is locked for a fixed period which differentiates between 7 days and 10 years.

A Fixed Deposit online calculator can be used to decide the interest and the amount that it will follow at the time of maturity. It is a very simple to use and is easily available on our website.

How can a Fixed Deposit Online calculator help you?

Calculating the maturity amount of an Fixed Deposit is a complex process and is time consuming. A Fixed Deposit online calculator allows one to figure it without using much effort.

  • Fixed Deposit maturity calculations are complex as it involves multiple variables. A fixed deposit online calculator does all the hard work and presents the correct figure before you within seconds.
  • It saves your valuable time on these manual calculations.
  • A fixed deposit return calculator allows you to compare the maturity amount and interest rates of Fixed Deposits which is offered by various financial institutions. You can make an accurate decision when you have all the figures for your use.

The Formula to find out the Fixed Deposit maturity amount

There are two types of fixed deposits that you may get profit from – simple interest Fixed Deposit and compound interest Fixed Deposit. Personal Calculator has calculators for both these fixed deposits.

The formula for simple interest fixed deposit –

M = P + (P x r x t/100)

here –

  • P stands for the principal amount that you deposit
  • r stands for the rate of interest per annum
  • t stands for the annual tenure

Here is an example, if you deposit a amount of Rs. 1,00,000 for 5 years at 10% interest, the equation will be –

M= Rs. 1,00,000 + (1,00,000 x 10 x 5/100)

= Rs. 1,50,000

The formula for compound interest Fixed Deposit –

M= P + P {(1 + i/100) t – 1}

here –

  • P stands for the principal amount
  • i stands for the rate of interest per period
  • t stands for the tenure

Here is an example, if you take the same variables, the compound interest Fixed Deposit will result -

M= Rs. 1,00,000 {(1 + 10/100) 5-1}

Or, Rs. 1,61,051

How to use the Fixed Deposit Online Calculator?

Here are the steps to use the Fixed Deposit Online Calculator –

  • Make sure you have all the related data available with you.
  • Input the variables as mentioned in the formula on their respective slots.
  • The fixed deposit maturity amount will be displayed before you in seconds.