People saves their money in banks. They don’t know the maturity amount and interest details. Before saving the money in the banks, the users have to check the interest rates and maturity amount details. To know those details, the users have to use the FD calculators. By doing like this, you can know your return amount details. The maturity amount depends on the compound interest and simple interest.

The individuals can replace his/her Fixed Deposit amount as usual savings. Fixed Deposits are safer than the post office schemes. FD’s are increasing day by day, and today it is more popular among all the savings. There are many advantages and benefits for Fixed depositing. To fixed deposit the money in banks there are some terms and conditions. To deposit the money, you have to agree with the conditions.

The users who want to know the process of Fixed Deposit Calculator can know here. We are providing the information about the Fixed Deposit process in the below sections. The interest of your amount depends on the duration period. The duration period is of 4 types. They are monthly, quarterly, half-yearly, and annually. You can calculate your returning amount by simple interest and compound interest. So, read them carefully to the use of FD Calculators.

The individuals who don’t know the calculations of simple interest and compound interest can see the below steps. Hence, everyone should know the below calculations to check your Fixed Deposit maturity amount.

We are providing an example to know the compound interest calculation. So, follow them carefully to know about FD. The formula used to calculate the maturity amount is

A = P(1+r/n)^{nt}

Where

A = Final Amount that will be received.

r = Annual nominal interest rate as a decimal that is if the interest is paid for 5.5%. Then it will be 0.055.

P = Principal Amount of Initial Investment.

n = Number of times the interest is compounded per year.

t = Number of years.

If the monthly compound is 12, then the half year compound is 2 and the quarter are 4.

**For example:**

Let us take an amount of Rs.1500 and deposit in a bank for 6 years, and the annual interest rate is 4.3 %

The values of the above formula are as shown below.

P = 1500 ; r = 4.3/100 = 0.043 ; n = 4 ; and t = 6.

Now substitute the given values in the above formula

A = P(1+r/n)^{nt}

A = 1500 (1+0.043/4)^{4*6}

= 1938.84

Hence the balance after 6 years is Rs.1,938.84 or Rs.1939.

To know the interest amount use the formula A – P

where, A = 1938.84 ; P = 1500

Substitute the values in the formula

A – P = 1938.84 – 1500

= 438.84

- Rs.1,00,000 * 10% = Rs.10,000 for one year.
- (Rs.1,00,000 +Rs.10,000)*10 % for 2 years.
- Rs.1,10,000*10% = Rs.11,000.

- Rs.1,10,000 + Rs.10,000 * 10% = Rs.1,21,000*10% = Rs.33,100.
- The total interest of the FD received at the end of 3 years is Rs.33,100.
- For maturity level the payment at the end of the 5 years is Rs.1,00,000+Rs.33,100 = Rs.1,3,100

The compound interest works for an investment of fixed period. The annual interest rate is based on the every month’s calculated interest.

The users who don’t know the Calculation process of simple interest can follow the below sections. It is one of the easy ways to calculate the compound interest.

- Rs.1,00,000 *10% = Rs.10,000 for the duration of 1 year.
- For 2 years the simple interest is Rs.1,00,000*10% = Rs.10,000.
- Rs.1,00,000 *10% = Rs.10,000 for the time period of 3 years.

At the end of the 3 years, the total earned interest is Rs. 30,000.

To calculate the interest of half-yearly the rate is considered as 10%*6 months out of 12 months = 5%.

For quarterly, the interest rate is considered as 10%*3 months out of 12 months = 2.5%.

- You can use Online Fixed Deposits for saving your money.
- The reputed banks and financial banks like RBI (Reserve Bank of India), SBI, etc., are very secure and safest place for investing your Fixed Deposit money.
- For the entire tenure, the fixed deposits earn fixed interest rates.
- If you want to use the interest rate as your monthly income, you have to invest the money into fixed deposits. It is one of the best ways of investing money for the retirees.
- Fixed deposit is a completely safe investment avenue.
- The interest rate is pre-determines. So, your income is guaranty safe in the banks.
- You can withdraw the deposits before maturity with some loss of interest.
- The users can choose the fixed deposit duration period from 30 days to 10 years.

- The main advantage of investing your money as Fixed deposit in banks is guaranteed return.
- Raising a loan against your Fixed Deposit money is easy.
- Because of its safety features, many people are using fixed deposits for saving their money.
- You can borrow up to 90 percent from your Fixed Deposit amount.
- You can choose the period from less than 6 months or as long as 10 years or even more than 10 years as per your wish for depositing the money in banks.

- According to the taxation point, fixed deposit is not the best way of investing money.
- If you withdraw the fixed deposit money before the duration period, you have to pay the penalty.
- You do not have an option to withdraw your money any moment.

The users who want to check their maturity amount before fixed depositing in the bank can check here. Just enter some necessary details and know your maturity amount on this page. By using FD Calculator, you can clear your doubts. Hence follow our site to know more information about the Fixed deposit.