About Fixed Deposit Calculator
A Fixed Deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. Our FD calculator helps you calculate:
- The maturity amount of your fixed deposit
- The total interest earned during the deposit period
- The tax implications on your interest earnings
- The effective annual yield after considering compounding
How to use this calculator
- Enter the principal amount you wish to deposit
- Set the interest rate offered by your bank
- Specify the time period for your deposit
- Select the interest compounding frequency
- Choose your applicable tax rate
- Click "Calculate" to see your results
FD Calculation Formula
For simple interest: A = P(1 + rt)
For compound interest: A = P(1 + r/n)^(nt)
Where:
- A = Maturity Amount
- P = Principal Amount
- r = Rate of Interest (in decimal)
- t = Time Period (in years)
- n = Compounding Frequency per year