Fixed Deposit Calculator All You Need To Know

Fixed Deposit is a way of saving money and generating interest simultaneously. It is basically a term investment that is offered by several NBFCs and banks. The FD deposits provide a rate of interest that is subject to specific terms and conditions.

The amount deposited by you is locked for a predetermined duration which can range from 7 days to 10 years.

You can calculate the amount at maturity and the interest earned that you will receive using a fixed deposit calculator.

In this article, we will inform you about everything that you need to know about fixed deposit calculators.

What is a Fixed Deposit Calculator?

A fixed deposit or FD calculator is used to determine the amount and interest that you will receive at maturity. It is an essential and simple tool to calculate this amount and make your life easier by not having to do any calculations manually.

An FD calculator can help you figure out the amount without stress.

How do Fixed Deposit Calculators Help you?

A fixed deposit calculator can help in multiple ways, such as

  • Calculations at maturity can involve multiple variables, and a calculator can do all the hard work for you and give the exact figure just by clicking a button.
  • These calculators help save you time on complex complications, which takes a lot of time when done manually.
  • A fixed deposit calculator enables you to compare the interest rates offered by various financial institutions. This helps you in making informed decisions with all figures at your disposal.
  • They help in ensuring accurate calculations each time and avoid mistakes of any kind.

How is FD Interest Calculated?

There are 2 ways of calculating interest which are dependent on the type of FD that you have availed

  • Simple interest fixed Deposit.

The formula for calculating this is fairly easy

SI= P*R*T/100

For instance, you deposit an amount of Rs.50,000 for a time period of 5 years at a 10% interest rate per annum.

SI= 50,000*10*5= 25,000

The maturity amount at the end of 5 years will be Rs.75,000

  • Compound Interest

This is the interest rate that is earned on both the principal amount and the interest. It is calculated using a simple formula

M=P+P {(1+i/100)t-1}

It is precisely because of this, that an online FD calculator is used to make calculations fast and straightforward for you.

Advantages of Using FD Calculator

There are several advantages of using a fixed deposit calculator, such as

  • You will get the exact amount you are eligible for at the end of maturity; you can easily plan your future accordingly without any stress.
  • These fixed deposit calculators are available free of cost online for unlimited usage by various financial institutions.
  • You can easily compare the maturity amount of various financial institutions and then make a decision based on this. The bank or financial institution providing the best interest rate with the maximum returns must be selected.
  • The calculations using FD calculators are accurate and to the point. Mistakes are avoided at all costs.
  • You can make better and more informed decisions by drawing comparisons between financial institutions and thereby deciding.


A fixed deposit is an excellent way of investing and saving your money. The best part? You earn interest on the principal amount. An FD calculator makes it easier for you to make calculations using basic data and does not require more than a few minutes.

The fixed deposit calculator is available to make your life easier and hence must be used accordingly.