Fixed Deposit Calculator

Understanding Fixed Deposits (FD)

A Fixed Deposit (FD) is a financial instrument offered by banks and NBFCs that provides investors with a higher interest rate than a regular savings account, until the given maturity date. It's one of the safest investment options available in India.

How Fixed Deposits Work

Fixed deposits work on a simple principle:

1. You invest a lump sum amount for a fixed period (tenure)
2. The bank/NBFC pays you a fixed interest rate during this period
3. At maturity, you receive your principal amount plus the accumulated interest

Key Features of Fixed Deposits

• Fixed Interest Rate: The rate remains constant throughout the tenure
• Flexible Tenure: Ranges from 7 days to 10 years
• Compounding Options: Interest compounded quarterly, half-yearly, or annually
• Loan Facility: Can avail loans against FD up to 90% of the deposit value
• Premature Withdrawal: Possible with a penalty on interest rate
• Tax Benefits: Tax-saving FDs offer deductions under Section 80C

Benefits of Fixed Deposits

How to Use Our FD Calculator

Our FD calculator helps you project the potential returns on your fixed deposit investment:

1. Enter Deposit Amount: The amount you wish to invest in FD
2. Set Interest Rate: The annual interest rate offered by the bank/NBFC
3. Select Tenure: The duration for which you want to invest
4. Choose Compounding: Frequency of interest compounding
5. Calculate: See your projected returns and maturity amount

The calculator shows you the total interest earned and the final maturity value. It also displays a visual chart to help you understand how your investment grows over time.