Fixed Deposit Calculator: Know your maturity amount now

Fixed Deposits are the safest investments without any market risk involved in them. If you have a savings account in any bank then you can easily invest money in Fixed Deposits and they offer you a fixed return every year. But it is important for you to calculate the return on the Fixed Deposits before making any investment in them. The FD Calculator can help you to calculate the return on your investment at the time of maturity. Every bank has its own Fixed Deposit Calculator with a different interface but the information used to calculate the return is almost the same for every bank. In this blog, you can explore the process to calculate the Fixed Deposit Return and know the maturity amount. You can also check out the benefits of using the FD Calculator for calculating returns on FDs.

How to use FD Calculator?

There are a lot of banks in India that have FD Calculators on their websites and you can use them to evaluate the return. You can check the basic information you need to calculate the return on FDs.

• Open any FD Calculator of any Banks available in India.
• Choose the type of customer you are whether a normal customer or a Senior Citizen. (The Fixed Deposit Interest Rate is high for Senior Citizens.)
• Then select the type of FD you are making whether Cumulative, Quarterly Payout, Monthly Payout, or Short-Term FD.
• Then enter the amount of FD you are willing to make.
• Finally, choose the tenure and click on the calculate button.

The fixed deposit calculator will calculate the return on FD depending upon the Percentage of Return their bank offers.

Advantages of FD Calculator

There are certain advantages of using an FD Calculator and you can explore all of them below:-

Deep Comparison

Using the FD Calculators of different banks helps you to know different amounts’ maturity. So, you can compare the returns on FD offered by different banks and choose the best FD plan for yourself. The FD Interest Rate differs from bank to bank and the amount of maturity will also be different.

Easy Calculations

The calculation for the maturity amount has been made easier through the FD Calculators. You will just have to enter some basic information to calculate the return on FD after a certain period of time. The burden of manual calculations has been removed after the implementation of FD Calculators.

Quick and Saves Time

The FD Calculators also save time as they do the calculations in seconds. Once you enter the basic details and click on the calculate button, you get all the information about the maturity amount within seconds. You can calculate FD interest as well once you know the maturity amount and the investment amount. The FD interest is not the same for every bank.

Helps to Make an Effective Decision

After comparing the maturity amount on FD from different banks, it will become easy for you to make an effective decision. You can make the Fixed Deposit with the bank that offers the highest rate of return on FDs and has a high Maturity Amount. Nowadays, almost every bank has its own FD Calculators available on their official websites.

Calculates Exact Returns

You will get accurate results after using the FD calculators because it is an automated tool designed to get the best results. It displays the maturity amount and the amount of interest earned on the investment.

Conclusion

So, you have seen how Fixed Deposit Calculator can help you to know your maturity amount quickly. It gives an accurate result without any margin of error. On the other hand, it will help you to make a comparison of the rate of return offered by different banks on the fixed deposit.