FD Calculator

An FD also called a fixed deposit is a kind of saving feature that is available in almost every bank in India. Under the fixed deposit feature the customers submit a certain amount of money in an FD account for a certain period of time on which day receive interest. After completing the maturity period the customers will receive their principal amount along with the interest money that they have earned. Every bank has a different rate of interest under their fixed deposit option. A fixed deposit is the best choice for all those customers who do not want to take any risk and still want to invest their money to get high returns.

FD Calculator

What is a Fixed Deposit (FD)?

A fixed deposit helps the customers to invest their extra money without undertaking any risk. In India, fixed deposits are majorly divided into two categories that are cumulative and non-cumulative deposits. Under the cumulative category of fixed deposit the interest and on principle amount are reinvested into the FD rather than being paid out to the investor. Under the non-community category of fixed deposit, the interest amount will be paid out separately to the investor without affecting the principal amount. The investor is free to choose how often they receive the interest payments.

Features of FD Calculator

• Calculate interest: With the help of an FD calculator, investors can easily check the interest amount that they have earned upon the principal amount.
• Calculate maturity amount: Not only the interest amount but the investors can also check the maturity amount that they will receive after completing the maturity period with the help of the calculator.
• Online service: Investors can check their interest or maturity amount online in the comfort of their homes without visiting any bank branch or interacting with anyone.
• Comparison: The investor can also compare different interest rates with the help of the online FD calculator.

Formula to Calculate FD Interest

There are two types of formulas to calculate fixed deposit interest namely simple interest FD and compound interest FD:

• Simple interest FD- The formula to calculate interest under the simple interest FD is M= P+(P x r x t/100).
  • M is equal to the maturity amount
  • P is equal to the principal amount
  • R is equal to the rate of interest
  • T is equal to tenure  in years
• compound interest FD- The formula to calculate interest under the simple interest FD is M= P+ P{(1 + i /100) t-1 }.
  • M is equal to the maturity amount
  • P is equal to the principal amount
  • I is equal to the rate of interest
  • T is equal to tenure  in years

Below is the table that shows the interest rate interest and maturity amount for the principal amount of INR 10,000.

Months	Interest Rate (%)	Interest Earned (INR)	Maturity Amount (INR)
6	3.5	175	10,175
12	4.0	400	10,400
18	4.2	630	10,630
24	4.5	900	10,900
30	4.8	1,200	11,200
36	5.0	1,500	11,500
48	5.2	2,080	12,080

How to Use AHZA Corp FD Calculator

STEP 1: All the investors who want to use the AHZA Corp FD calculator the investors first choose the customer type like a customer below the age of 60 or senior citizens.

STEP 2: Now the investors must choose the principal by the amount by entering the amount or using the slider to choose the amount.

STEP 3: Now the investors can enter their tenure according to their choice.

STEP 4: Now the investors must use the interest payout mode like monthly, quarterly, half-yearly, or yearly.

STEP 5: After entering all the details the investors can click on the option submit to complete your process.

Type of Fixed Deposit

• Standard

Under the standard fixed deposit, the depositor invests a lump sum of money for a specified period under a predetermined interest rate. This type of fixed deposit is the most used and common among investors.

• Tax Savings

Under the tax saving fixed deposit, the investors can save on their taxes while earning interest. Under Section 80C of the Income Tax Act, 1961, investors can claim a tax deduction of up to ₹ 1.5 lakh per year by investing in these FDs.

• Special

Under the special fixed deposit, the bank Institute offers higher interest than any standard fixed deposit if the money is not withdrawn within a specific period. Various banks offer special FD schemes to attract new investors.

• Corporate

Under the corporate fixed deposit, the FD option is offered by a Corporation, non-banking financial company (NBFC), or housing finance company (HFC). The corporate fixed deposit is exactly the same as a normal fixed deposit but the main difference is the deposit is placed with a corporate entity instead of a Bank.

• Regular

Under the regular fixed deposit the interest rate changes according to the length of the tenure of the principal amount. At the end of the term, the investor receives the amount they invested plus compound interest

• Senior Citizen

Under the senior citizen fixed deposit the bank authorities offer an interest rate that is comparatively higher than any other fixed deposit. This scheme provides financial stability to all senior citizens after their retirement.

• Flexi

Under the flexi fixed deposit, the Banking Institute combines the advantages of fixed deposit and savings accounts. Its offers the security of a fixed deposit while providing the flexibility of a savings account.

Advantages of Using AHZA Corp FD Calculator

• By using the AHZA Corp FD Calculator the investors can calculate the exact amount that they will receive after the end of their maturity period.
• Understanding the exact amount after the tenure will help the investor plan their future according to their maturity amount beforehand.
• The AHZA Corp FD Calculator is free to use for everyone any investor can use the calculator for unlimited time without paying any money.
• By changing the interest rate according to different banking institutes the investors can determine the maturity amount.

FAQs

What is the full form of FD?

The full form of FD is fixed deposits.

What are the two general categories of fixed deposits?

Cumulative FD and non-communitive FD are the two general categories of fixed deposits.

What is the formula to calculate simple interest fixed deposits?

The formula to calculate simple interest fixed deposit is M= P+(P x r x t/100).

What is the main objective of fixed deposits?

The main objective of using fixed deposits is to encourage investors to invest their extra money without bearing any risk.

What is the formula to calculate compound interest FD?

The formula to calculate compound interest FD is M= P+ P{(1 + i /100) t-1 }.

What is cumulative FD?

Under the cumulative category of fixed deposit the interest and on principle amount are reinvested into the FD rather than being paid out to the investor.