FD Calculator

VNN Wealth’s FD calculator is a tool that calculates the maturity amount of the FD based on the interest rate and tenure.

Different banks and financial institutions may offer FDs with varied interest rates. The above Fixed Deposit calculator will help you calculate the return on your investment.

All you have to do is fill in your investment amount and choose the rate of interest offered by the financial institution and preferred tenure (in years/months/days). The calculator will show you the estimated return (amount) and the total value at maturity.

Fixed deposits come with either simple interest or compound interest. Most banks offer quarterly or annual cumulative (compounded) FDs. Fixed deposits with less than 6 months of duration only offer simple interest.

Cumulative FDs benefit from the effect of compounding and generate superior returns than FDs with simple interest.

VNN Wealth’s FD Calculator offers both simple interest and compound interest calculations.

Select the interest type, input your investment amount, rate of interest, and the period unit in days, months, or years.

Upon submitting the above inputs, our FD calculator will deliver the estimated maturity amount of your FD.

The simple interest FD calculator uses the following formula-

Total value (Maturity amount)= P + (P x r x t/100)

Here,
P= Principle amount, that is your investment amount.
r= Rate of interest offered by the chosen FD
t= The tenure of your FD investment in years

For example, if you’ve invested INR. 1,00,000 at 6.5% for 3 years, then the total maturity amount would be INR. 1,19,500.

M= 100000 + (100000 x 6.5 x 3/100)
M = 1,19,500

To calculate compound interest, our FD calculator uses the below formula-

Total Value (Maturity amount)= {P [1+(r/n)]^N} - P

For example, if you’ve invested INR. 1,00,000 compounded every year at 7.25% for 3 years, then the maturity amount would be 1.23L.

Here,
P= Principle amount, that is your investment amount.
r= Rate of interest offered by the chosen FD
n= Compounding frequency per annum. The value of ‘n’ would be 4 for quarterly compounding. Since we’re calculating yearly compounding, the value of ‘n’ would be 1.
N= Total compounding frequency= n*t= compounding frequency * total tenure= 1 x 3=3
Therefore,
Total value = {100000[1+(7.25/1)]^3} - 1 = 123425.99

Manually calculating the maturity amount of an FD can be a tedious task especially if it’s a cumulative FD. A fixed deposit calculator helps you easily calculate the estimated amount you are eligible for at maturity.

It also helps you compare the interest rates of FDs offered by various banks or financial institutions.

The tool gives you accurate results, saves time, and helps with your financial planning.