How Much Interest Will I Earn With My FD? Simple Interest (Calculator)

FDs offer fixed returns, depositors can determine their earnings even before opening an account. It helps them to know the amount that should be invested to get the required amount on maturity to meet varied financial goals.

An FD calculator can help depositors to calculate their returns within seconds. A calculator for fixed deposit returns calculation requires only a few details. Below ware the required details to open a FD online.

Here are the details required to open an FD online:

  • Choose the category/customer type as Senior Citizen.
  • Choose the FD type or interest payout. Choose cumulative FD for reinvestment purpose and non-cumulative FD for monthly or quarterly payout.
  • Input the deposit date.
  • Enter the FD tenure.
  • Enter the deposit amount. 

On the screen, users can check the interest rate applicable, total interest to be earned and maturity amount. Here is a simple example. 

Illustration

Suppose a senior citizen invests Rs. 1 lakh in a cumulative FD and opts for reinvestment. The FD tenure is 60 months. An FD calculator will show you the following result: 

  • Rate of Interest: 7.5%
  • Interest Earned: Rs.44,995
  • Total Maturity Balance: Rs.1,44,995

This is a simple process to use an FD calculator. The investors can check the amount calculated and invest accordingly. Users can adjust figures multiple times to get suitable FD tenure to earn desired returns. The calculator fixed deposit is free to use.

Depositors can visit the bank's official website to access the online FD calculator to make calculations easy. It helps to choose a suitable FD tenure to maximise returns. Choose different interest payout options as per financial requirements.

Know your FD interest rate before you open an FD online/offline. It helps users to compare returns with different payouts. Senior citizens and super senior citizens can earn more with an additional interest rate of 0.50% and 0.75%, respectively.


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