Online Fixed Deposit (FD) Calculator
Find out how much money you can save for your future!
Use our free FD Calculator to determine your FD amount over a time period. The rate of interest, time period and compounding period should be entered to determine the figure.
₹
₹1000
₹1Cr
%
6%
50%
yr
5 Yr
30 Yr
.svg)
Overview of FD Calculator
Fixed Deposits or FDs is a long-term investment made by people for a secure future. Investors can select a predetermined duration for the bank to hold their deposit. In general, FD investments offer higher interest rates than savings accounts, making them a better choice for building long-term wealth. We at Vakilsearch provide a free tool to calculate your FD amount over a period of time or say when the investment expires, known as the maturity amount.
Formula to Calculate Compound Interest
How to Calculate FD interest.
M = P + (P x r x t/100), where –
| P is the principal sum you have deposited. |
| The annual interest rate is r. |
| The tenure in years is t. |
| For instance, the equation reads as follows if you deposit ₹20 for 5 years at 10% interest: |
| M= ₹20 + (20 x 10 x 5/100) |
| = ₹30 |
The FD return calculator applies the following formula for compound interest:
M = P + P (i/100 + 1) t - 1, where -
P is the amount of the principal and I is the interest rate per period.
The tenure is t.
Advantages of Having an FD
1. FD may be used as security for loans
2. You may borrow up to 80–90% of the value of your FD
3. When the deposit matures, the depositor has the option of transferring the money for another fixed deposit.
4. Only one deposit of the money is permitted.
4. When money is withdrawn from an account after it has been deposited, a fee is charged.
5. If you have extra money and wish to invest it to make money, FD programmes are a wonderful option.
Tax Benefits on FDs
Fixed Deposits schemes are taxed similarly to other investment and tax-saving personal instruments. If the total interest earned from an FD surpasses ₹ 10,000 in a single financial year, a 10% TDS is applied to the returns. When we compare this to the SIP programme, it is clear that SIPs offer greater long-term benefits. Any SIP that invests in ELSS (Equities Linked Mutual Funds) beyond one year is likewise tax-free because long-term returns from equity are tax-free.
How Do I Use the FD Calculator From Vakilsearch?
Step 1: Verify that you have access to all relevant data
Step 2: Type the variables into the spaces given for them in the formula
Step 3: A prompt display of the FD maturity amount will follow.
Why Vakilsearch?
We offer a free tool to calculate your FD returns. Along with it, you can get on a 30 min consultation call with our legal experts to understand the nuances and benefits of FD. Our process will be seamless and timely updates will be given to you at each step of any legal process. As mentioned above, one should be careful when depositing an FD. There are several factors that you should consider: what is the amount to be deposited and the lock-in period if any. All this requires expert advice and we are here for it!
Frequently Asked Questions (FAQs)
Yes! It is absolutely free at Vakilsearch where you just need to know the variables to enter.
No! It will only take a few seconds.
The FD calculator is 100% accurate.
No! One can use it any number of times.
There are primarily two kinds of interest-receiving methods. One is the cumulative option, in which the interest is compounded quarterly and paid upon FD/auto-renewed maturity. An alternative is a non-cumulative option that is paid in interest on a monthly, quarterly, or maturity basis.
