What is a FD Calculator

Before anyone tries to invest their money into a fixed deposit (FD) it is better to first know how much return one will make from that deposit. This helps in knowing the maturity amount, the time period for investment, and the interest payment dates. Although calculating compound interest can prove to be a hard task when one decides to do it on their own, using online FD calculator it is easy to perform this task.

Unlike the 5paisa FD calculator, this one allows you to impact the amount of deposit with which you would like to sign up, for how long, and the rate of interest of the relevant bank with a click on the button. It fast displays projected profits to you within seconds. There is also the possibility of assessing the returns from different banks as well as non-banking financial firms and discovering where the best rates are. Such a device has its benefits because it saves time and cut the chances of errors as when doing manual calculations. You can go further by even using a multiplication device in assessing productive returns from mutual funds and FDs and decide which is better for your target.

How FD calculator can help you?

It may be difficult and time consuming to determine how much you shall get from a Fixed Deposit(FD). But you can calculate instantly by using FD Calculator:
Its benefits are below -

Risking Simple Math: An FD calculator and the like eliminates the need to perform long divisions and does complex calculations in seconds.

Convenience: It reduces the amount of time one would use in performing the calculations by themselves thereby hastening the activity.

Understand Capabilities: The tool also enables you to analyze current maturity amount and interest rates of individual banks. Hence, you will manage to determine the more favorable bank for your savings.

How to Calculate the fixed deposit calculator?

Formula:
The fixed deposit calculator for simple interest FD uses the following formula –
M = P + (P x r x t/100),

• P = is the principal amount that you deposit
• r = is the rate of interest per annum
• t = is the tenure in years