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Financial Deposit is an instrument by which banks usually gather their running cost, while the investor also gets to earn a higher interest than usual after a certain period of time. To fully get the benefits of fixed deposits/term deposits, investor can’t withdraw money from this account before the deposit matures at a certain age.

The usual period of such deposits usually vary between 7 days to 15 years. Different banks have different interest for different period. To calculate a fixed deposit’s maturity value, an investor needs to know the principal amount, rate of interest on the fixed deposit and for how long the deposit is going to stay.

Also, the interest frequency as in weekly, monthly or annually might be a necessary piece of information in this calculation. You have to face some % penalty if you withdraw money before maturity time.

Table of Contents

**How can an FD calculator help you?**

Calculating the maturity amount of an FD can be a complicated and time-consuming process. An online FD calculator enables one to figure it without breaking a sweat.

- FD maturity calculations are complex involving multiple variables. A Fixed deposit calculator does all the hard work and gives you accurate figures just at the click of a button.
- It helps you save a lot of time on these complex calculations.
- A fixed deposit return calculator enables you to compare the maturity amount and interest rates of FDs offered by different financial institutions. You can make an informed decision when you have all the figures at your disposal.

**The formula to determine FD maturity amount**

There are two types of FD that you may avail of – simple interest FD and compound interest FD. Groww has calculators for both types of FD.

The fixed deposit calculator for simple interest FD uses the following formula –

M = P + (P x r x t/100), where –

- P is the principal amount that you deposit
- r is the rate of interest per annum
- t is the tenure in years

For example, if you deposit a sum of Rs. 1,00,000 for 5 years at 10% interest, the equation reads –

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

= Rs. 1,50,000

For compound interest FD, the FD return calculator uses the following formula –

M= P + P {(1 + i/100) t – 1}, where –

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

For example, if you take the same variables, the compound interest FD will accrue,

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

Or, Rs. 1,61,051

**How to use Groww’s FD calculator?**

Follow the steps mentioned below to use an FD deposit calculator conveniently.

- Ensure you have all the related data available to you.
- Enter the variables as mentioned in the formula on their designated slots.
- The FD maturity amount will be displayed instantly.

**Advantages of using Groww FD calculator India**

Know the exact amount you will receive at the time of FD maturity using the FD amount calculator.

There are several other advantages of using these calculators –

- Get the exact amount you are eligible for at the end of your maturity period and plan your future accordingly.
- Both of these calculators are free for unlimited use by registered users.
- Compare the maturity amount of different financial institutions easily.

Besides the Fixed deposit calculator, you can easily plan your finances using the following calculators. All of our offerings are free to use and you can use them as frequently as you want.

**Steps to Calculate Fixed Deposit Interest Rate:**

- First visit Fixed deposit page and click the desire bank name to know current FD interest rates.
- In below FD Calculator, enter Deposit amount, rate of interest for related bank, Time period and frequency.
- Finally, click “
**calculate**” button. Our Fixed Deposit calculator will display maturity amount and interest amount that you earned.

## Fixed Deposit Calculator

**Is the FD interest calculator free to use?**

Absolutely. You do not have to pay anything to use the calculators. All of our calculators are free.

**How much time does it take to use the FD calculator?**

It takes just a few seconds.

**How does the FD calculator help in future financial planning?**

Once you know how much your Fixed Deposit will fetch you after the tenure ends, you can either choose to reinvest or withdraw the amount.

Prashant Singh is Founder and Lead Author of UDYOG MANTRA , having MBA post graduate degree. We provide business growth consultant, business expantion, providing information about distributorship, dealership, franchise through udyogmantra.in