A fixed deposit is a form of investment provided by many banks and non-banking financial companies (NBFCs). These deposits typically offer a higher interest rate, subject to certain conditions. The funds you deposit are locked for a set period, which can range from 7 days to 10 years.

An FD calculator is a handy tool that helps determine the interest and the total amount you will receive upon maturity. It's a simple tool available on the Sensex India website.

Calculating the maturity amount of an FD can be complex and time-consuming. With an online FD calculator, you can easily find out the figures without any hassle.

• FD maturity calculations involve several variables. The Fixed Deposit calculator does all the heavy lifting and provides you with precise results at the click of a button.
• It helps you save time by simplifying the calculation process.
• The FD return calculator allows you to compare the maturity amounts and interest rates of FDs from different financial institutions, helping you make well-informed decisions.

You can opt for either a simple interest FD or a compound interest FD. Sensex India offers calculators for both types of FD.

The formula used in the fixed deposit calculator for simple interest FD is as follows –

M = P + (P x r x t/100), where –

• P stands for the principal amount you deposit
• r is the rate of interest per annum
• t represents the tenure in years

For example, if you deposit Rs. 1,00,000 for 5 years at an interest rate of 10%, the calculation would look like this –

M = Rs. 1,00,000 + (1,00,000 x 10 x 5/100)

= Rs. 1,50,000

For a compound interest FD, the return calculator applies the following formula –

M = P + P {(1 + i/100) t – 1}, where –

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

For example, using the same values, the compound interest FD will grow to –

M = Rs. 1,00,000 {(1 + 10/100) 5-1}

Which results in Rs. 1,61,051

Follow these steps to use the FD deposit calculator with ease:

• Make sure you have all the required details ready.
• Input the variables as per the formula into their respective fields.
• The FD maturity amount will be shown instantly.

Know exactly what you’ll receive at the time of FD maturity by using the FD amount calculator.

There are many other benefits to using these calculators –

• Get a precise estimate of the amount you will receive at the end of your maturity period and plan your future accordingly.
• Both calculators are free for unlimited use for registered users.
• Easily compare maturity amounts from various financial institutions.

In addition to the Fixed Deposit calculator, you can conveniently plan your finances with the following calculators. All of our tools are free to use, and you can access them as often as you need.