A Fixed Deposit (FD) is a type of term investment offered by banks and NBFCs, where you deposit a lump sum for a fixed period, ranging from 7 days to 10 years. This deposit earns a higher interest rate compared to a regular savings account, making it a popular choice for those looking to grow their savings securely.
An FD Calculator or Fixed Deposit Calculator is a tool that helps you determine the interest earned and the maturity amount of your Fixed Deposit.
Jagran's FD Calculator is a free of cost, easy-to-use online tool that provides instant and accurate calculations, saving you the hassle of manual computation.
To use Jagran's FD Calculator, simply input the principal amount, interest rate and tenure into the designated fields. The calculator will instantly display the maturity amount, allowing you to plan your investments effectively.
For a Simple Interest FD, use the formula: M=P+(P×r×t/100)
For a Compound Interest FD, use: M=P×{(1+i/100) t −1}
Here, P is the principal, r is the interest rate, and t is the tenure.
Jagran's Fixed Deposit Calculator simplifies complex calculations, saves time. The online FD Calculator helps you compare different FD options, ensuring informed financial decisions.