A fixed deposit (FD) is a financial product provided by banks and NBFCs, offering higher interest rates for a specified term. The invested amount remains locked for a predetermined period, ranging from 7 days to 10 years.

An FD calculator is a convenient tool to estimate the interest and maturity amount. This easy-to-use tool is accessible on the IPORockplatform.

Advantages of an FD Calculator

Manually calculating FD maturity can be complicated and time-consuming. An online FD calculator streamlines the process effortlessly.

• FD maturity depends on several factors. The calculator provides precise results quickly.
• It saves time by handling complex calculations automatically.
• The calculator enables you to compare maturity amounts and interest rates across different institutions, helping you make informed decisions.

FD Maturity Calculation Formula

FDs are available in two types: simple interest and compound interest. IPORock provides calculators for both types.

Simple Interest FD Formula

M = P + (P x r x t / 100)

Where:

• P is the principal amount
• r is the annual interest rate
• t is the tenure in years

Example: For a deposit of ?1,00,000 at 10% interest for 5 years,

M = ₹1,00,000 + (1,00,000 x 10 x 5 / 100) = ₹1,50,000

Compound Interest FD Formula

M = P + P ( (1 + i / 100)^^t - 1 )

Where:

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

Example: Using the same values for a compound interest FD,

M = ₹1,00,000 ( (1 + 10 / 100)^⁵- 1 ) = ₹1,61,051

Steps to Use an FD Calculator

• Ensure you have the necessary data ready.
• Input the variables into their respective fields.
• The calculator will instantly display the maturity amount.

Why Choose IPORock's FD Calculator?

Determine the exact amount you'll receive at maturity using the FD calculator. Additional benefits include:

• Accurately plan your finances based on the maturity amount.
• The calculators are free for unlimited use by registered users.
• Easily compare maturity amounts across various financial institutions.

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