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The FD Calculator helps you estimate returns on your deposits with ease. Use it as a stepping stone to plan your savings and explore smarter investment options with Bajaj Broking.
A Fixed Deposit (FD) is a secure financial instrument offered by banks and Non-Banking Financial Companies (NBFCs). It involves depositing a specific lump sum for a predetermined period at a fixed interest rate.
Key characteristics include:
Stable Interest Rate: The interest rate remains constant throughout the tenure, regardless of market fluctuations.
Higher Rates: FDs typically offer higher interest rates compared to standard savings accounts.
Flexible Tenure: Investors can choose durations ranging from a few days to several years based on their liquidity needs.
Compounding Benefit: Interest is often compounded quarterly or yearly, enhancing the total yield over time.
A Fixed Deposit (FD) Calculator is a free online tool that helps you figure out how much your fixed deposit will be worth when it matures.
The tool provides:
Instant Projections: It processes inputs immediately to show the investment's future value.
Accuracy: It eliminates manual calculation errors associated with complex compound interest formulas.
Scenario Planning: Investors can adjust the principal amount or tenure to see how these changes affect the final maturity value.
Core Inputs Required:
Total Investment: The principal amount to be deposited.
Interest Rate: The annual percentage rate offered by the issuer.
Duration: The time period for which the money is locked in.
An FD Calculator helps investors estimate the returns on their fixed deposit investments by computing the maturity amount based on key inputs such as the principal amount, interest rate, and investment tenure.
Key functions include:
Analysing Compound Growth: Most FDs compound interest quarterly. The calculator accurately factors this in, showing returns higher than those from simple interest calculations.
Comparing Tenures: It helps users decide whether a short-term or long-term deposit yields better results based on current rates.
Tax Planning: By knowing the exact interest component, investors can better anticipate their tax liability on the interest income.
Goal Alignment: It helps determine whether the maturity amount aligns with specific financial goals, such as buying a vehicle or funding a vacation.
The formula for figuring out the FD maturity amount depends on whether the deposit receives simple interest or compound interest.
When calculating the maturity value of a simple interest FD, the following formula is used:
A = P + (P x r x t)
For example, if you deposit a sum of ₹5,00,000 for 3 years at 8% interest, the equation reads:
A= ₹5,00,000 + (5,00,000 x 8 x 3/100) = ₹6,20,000
The following formula can be used to determine the maturity value of an FD that pays compound interest:
$$A = P \times (1 + \frac{r}{n})^{nt}$$
For example, if you take the same variables, the compound interest FD will build up.
A= ₹5,00,000 + 5,00,000 {(1 + 8/100) 3-1} Or, ₹6,29,856
Where:
A is the maturity amount
P is the principal amount deposited
r is the interest rate expressed as a decimal
t is the deposit period in years
n is the number of times the interest is compounded in one year
Using a digital calculator is more efficient than manual computations. It serves as an essential planning utility for anyone looking to park surplus funds.
Primary advantages include:
Precision: Delivers exact figures down to the last rupee, removing human error.
Speed: Generates results instantly, allowing for quick decision-making.
Ease of Comparison: Allows investors to quickly compare rates from different banks to find a suitable yield.
Financial Clarity: Clearly separates the principal amount from the interest earned, providing a transparent view of profitability.
Accessibility: It is available online 24/7, allowing users to plan their investments at their convenience.
To use the Bajaj Broking FD calculator efficiently, follow these three simple steps:
Enter Investment Amount: First, you need to enter how much money you want to put in the ‘Total Investment’ section.
Input Rate: Second, enter the annual interest rate for your FD.
Select Tenure: Third, enter how long the deposit will last in years.
View Results: Once you enter this information online, the calculator will show you the entire anticipated interest on the deposit and the eventual maturity value.
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To use an online FD calculator, you just need to enter the deposit amount, interest rate and deposit tenure. The calculator will then show you the estimated returns and the maturity value of the deposit.
Yes, you can choose to receive monthly interest payouts from your fixed deposit account. This means the interest will be calculated on the principal sum only.
The penalty for premature withdrawal of a fixed deposit is typically calculated as a percentage of the interest earned. This percentage usually ranges from 0.5% to 1%.
Yes, an FD calculator can help you compare different fixed deposit plans. Since the tool is free to use, you can enter the details required in different combinations to understand how changing principals, interest rates and tenures can affect the maturity amount.
Interest on a Fixed Deposit may be calculated using the simple interest or the compound interest formula, as applicable. Typically, cumulative FDs give you compound interest but non-cumulative FDs give you simple interest.
A fixed deposit calculator allows you to input your contribution amount, the initial investment duration, and the earning rate to tabulate, almost instantly, the invested amount, the estimated return on investment, and the expected value of the asset at maturity. You can alter one or more of the inputs, for instance, the investment term or the earning rate, and measure the difference. You can see how fixed deposits may grow over time to align with your savings goals.
To use a fixed deposit calculator, you must input a one-time contribution amount, the earning rate (annual) and the duration of the investment in years. Using these inputs, the calculator will present the invested amount, the estimated returns on investment and the expected value at maturity.
Yes, it is reliable, as a fixed deposit calculator uses mathematical formulas based on your entered data and will yield results as accurate as the assumptions underlying the formulae. However, the calculator takes current terms and conditions into account and would not accurately reflect scenarios in which interest rates change, taxes are applied to investment returns, or the upfront investment is withdrawn early.
No, the FD calculator doesn’t provide post-tax returns; it gives you the invested amount, total value, and the estimated return. Your actual after-tax return will depend on your tax slab, TDS rate, and other individual circumstances.
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