A fixed deposit (FD) is a term-based investment offered by banks and NBFCs, providing higher interest rates under specific terms. The deposited amount is locked for a fixed duration, ranging from 7 days to 10 years.

An FD calculator helps estimate the interest and maturity amount conveniently. This user-friendly tool is available on the IPOtank platform.

Benefits of an FD Calculator

Calculating FD maturity manually can be complex and time-intensive. An online FD calculator simplifies the process effortlessly.

• FD maturity involves multiple factors. The calculator computes accurate results with ease.
• It saves time by automating complex calculations.
• The calculator allows you to compare maturity amounts and interest rates across institutions, enabling informed decisions.

FD Maturity Calculation Formula

FDs come in two types: simple interest and compound interest. IPOtank offers calculators for both types.

The simple interest FD formula is:

M = P + (P x r x t / 100), where:

• P is the principal amount
• r is the annual interest rate
• t is the tenure in years

Example: For a deposit of ₹1,00,000 at 10% interest for 5 years,

M = ₹1,00,000 + (1,00,000 x 10 x 5 / 100) = ₹1,50,000

For compound interest FD, the formula is:

M = P + P {(1 + i / 100)^t - 1}, where:

• P is the principal
• i is the interest rate per period
• t is the tenure

Example: Using the same values for a compound interest FD,

M = ₹1,00,000 {(1 + 10 / 100)^5 - 1} = ₹1,61,051

Steps to Use an FD Calculator

Follow these steps to use the FD calculator effectively:

• Ensure you have the required data ready.
• Enter the variables into their respective fields.
• The calculator will instantly display the maturity amount.

Why Choose IPOtank's FD Calculator

Determine the exact amount you’ll receive at maturity using the FD calculator. Additional advantages include:

• Accurately plan your finances based on the maturity amount.
• The calculators are free for unlimited use by registered users.
• Easily compare maturity amounts across various financial institutions.

In addition to the FD calculator, IPOtank offers several other free tools for financial planning, available for unlimited use.