FD Calculator
Calculate returns on your fixed deposit investments
About Fixed Deposit (FD)
A fixed deposit is a type of term investment offered by several banks and NBFCs. These deposits typically offer a higher rate of interest, subject to certain terms and conditions.
Key Benefits:
- Guaranteed returns
- Higher interest rates than savings accounts
- Flexible tenure options
- Low risk investment
- Loan facility available
Frequently Asked Questions
What is a Fixed Deposit (FD)?
A Fixed Deposit (FD) is a type of term investment offered by banks and NBFCs where you deposit a lump sum amount for a predetermined period at a fixed interest rate. The amount is locked for the tenure chosen, which can vary between 7 days and 10 years.
How does an FD calculator help you?
An FD calculator helps you determine the interest and maturity amount without complex manual calculations. It saves time, provides accurate figures instantly, and enables comparison of FD schemes from different financial institutions to make informed investment decisions.
How to use FD calculator?
Using an FD calculator is simple: Enter your principal amount, select the interest rate offered by your bank, choose the tenure period (days, months, or years), select the interest payout frequency (monthly, quarterly, half-yearly, yearly, or at maturity), and the calculator will instantly show your maturity amount and total interest earned.
What is the difference between cumulative and non-cumulative FD?
In cumulative FD, interest is compounded and paid at maturity along with the principal amount. In non-cumulative FD, interest is paid out periodically (monthly, quarterly, half-yearly, or yearly) and only the principal amount is returned at maturity. Cumulative FDs typically offer higher effective returns due to compounding.
What factors affect FD interest rates?
FD interest rates are influenced by several factors including the Reserve Bank of India's monetary policy, inflation rates, bank's cost of funds, tenure of the deposit, amount deposited, age of the depositor (senior citizens get higher rates), and prevailing market conditions. Different banks may offer varying rates based on their liquidity requirements.
Is FD investment safe?
FD investments are considered one of the safest investment options as they offer guaranteed returns and are not affected by market volatility. Bank FDs are insured up to ₹5 lakhs per depositor per bank under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, making them a secure choice for conservative investors.