How to Utilize CredBharat's Fixed Deposit Calculator

CredBharat's FD deposit calculator is user-friendly and provides precise calculations for your FD maturity amount. Simply input the following information:

Once entered, click the "Calculate" button, and the maturity amount will be promptly displayed on the same page.

 

How an FD Calculator Can Benefit You

Discover how FD calculators can be of assistance:

 

Benefits of Employing the FD Calculator

Utilizing CredBharat's FD interest calculator offers numerous advantages, including:

 

Understanding Cumulative and Non-Cumulative Fixed Deposits

Cumulative Fixed Deposit: A cumulative fixed deposit calculates the interest, compounds it, and disburses it upon maturity.

Non-Cumulative Fixed Deposit: Non-cumulative fixed deposits, on the other hand, provide periodic interest payouts, with options for monthly, quarterly, half-yearly, and yearly payments.

 

Compute Compound Interest with CredBharat's FD Calculator

With CredBharat's compound interest calculator, you can determine the compounded interest that will accumulate on your fixed deposit. Simply provide the necessary information and click the "Calculate" button to obtain an accurate estimation of your compound interest amount.

 

How is Fixed Deposit Interest Computed?

Fixed deposit interest is typically calculated using two methods: simple interest and compound interest.

Simple Interest 

This involves a predetermined interest rate for a fixed duration. It is calculated by multiplying the annual interest rate, the principal amount, and the tenure in years.

For example, if you deposit Rs.1 lakh at an interest rate of 10% per annum for 5 years, the interest amount at maturity, using simple interest calculation, would be as follows:

SI: P x R x T/100

SI: 1,00,000 x 10 x 5/100 = 50,000

The maturity amount at the end of the 5-year deposit term would be Rs.1.5 lakh.

 

Compound Interest 

Compound interest is the interest earned on both the principal and previously earned interest. It is calculated by multiplying the interest rate with the principal amount, raised to the power of the number of compounding periods per year multiplied by the number of years.

The formula for calculating compound interest is as follows:

A = P (1 + r/n)^(n*t)

Where: A = Maturity amount P = Principal amount r = Interest rate in decimal form n = Number of compounding periods in a year t = Number of years

For example, if you deposit Rs.10,000 for a 3-year tenure with a quarterly compounding interest rate of 10%, the interest earned at maturity would be calculated as follows:

A = 10,000 * (1 + 0.1/4)^(4 * 3) A = 10,000 * (1 + 0.025)^12 A = 10,000 * (1.025)^12 ? Rs. 13,449

Compound Interest (CI) can be determined by subtracting the Principal Amount from the Maturity Amount:

CI = Maturity Amount - Principal Amount CI = Rs. 13,449 - Rs. 10,000 = Rs. 3,449

Maturity amount at the end of the 3-year deposit tenure: Rs.13,449

Fd Calculator FAQ's

Fixed deposits can be cumulative or non-cumulative. Cumulative FDs accrue interest over the entire tenure and are paid at maturity. Non-cumulative FDs calculate interest monthly, quarterly, or yearly.
FD interest rates are influenced by factors like deposit tenure, applicant's age (senior citizens often get higher rates), and prevailing economic conditions.
Yes, FD interest calculators are typically free to use. Various online platforms offer this service to calculate FD interest for specific amounts and tenures.
The FD maturity amount is determined by the formula MV = (P x r x t)/100, where MV is the maturity value, P is the principal amount, r is the interest rate, and t is the tenure.
Simple interest is used for tenures of less than 6 months.
The minimum tenure for fixed deposits is typically 7 days.
No, there is no need for any documents when using the FD calculator.
You can use the CredBharat FD interest calculator to calculate the maturity amount for any bank based on their interest rates.
No, the CredBharat fixed deposit calculator is a free online tool available 24/7.
You can use the fixed deposit calculator an unlimited number of times per day.
Yes, the fixed deposit calculator is accessible on mobile browsers.
You can calculate the interest rate for one FD scheme at a time using the FD calculator.
You can find interest rates for FD schemes offered by most leading banks on the CredBharat website.
The number of years it takes for an FD to double can be calculated using the formula 72 divided by the annual interest rate. For example, if an FD is deposited at 8% interest, it will double in 9 years (72/8 = 9).
Some FDs offer a monthly interest payout option, while others provide interest along with the principal amount at maturity.
Whether an FD offers compound interest depends on the financial institution, FD amount, tenure, and FD type.
The FD interest rate for senior citizens varies among banks but is generally around 0.25% to 0.50% higher than regular FD rates.

Forgot Password