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1. Fixed Deposit Calculator Online
Fixed Deposit (FD) is a term term investment offered by several banks and NBFCs. These funds usually offer a high interest rate, subject to certain terms and conditions. The amount you enter in FD is locked for a pre-determined period which may vary between 7 days and 10 years. The interest rate for FDs is set at the time of opening the deposit and independent of any volatility in the market. Some financial institutions allow a person to break FDs prematurely by paying a certain fine. The FD calculator can be used online to find out the interest and amount you will earn during maturity. An easy-to-use tool available on the Myitronline website.
2. How can an FD calculator help you?
Calculating the amount of FD maturation can be a complex and time-consuming process. An online FD calculator enables one to find it without sweating. FD maturity statistics are complex involving many variables. The FD deposit calculator does all the hard work and gives you accurate calculations with just a click of a button. It helps you save a lot of time on these complex calculations. A fixed deposit return calculator allows you to compare the maturity rates and interest rates of FDs offered by different financial institutions. You can make an informed decision if you have all the statistics you have.
3. How can an FD calculator help you?
Calculating the amount of FD maturation can be a complex and time-consuming process. An online FD calculator enables one to find it without sweating. FD maturity statistics are complex involving many variables. The FD deposit calculator does all the hard work and gives you accurate calculations with just a click of a button. It helps you save a lot of time on these complex calculations. A fixed deposit return calculator allows you to compare the maturity rates and interest rates of FDs offered by different financial institutions. You can make an informed decision if you have all the statistics you have.
4. The formula to determine FD maturity amount
There are two types of FD that you may avail – simple interest FD and compound interest FD. Myitronline has calculators for both these 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
5. How to use Myitronline’s FD calculator?
Follow the steps mentioned below to use an FD deposit calculator conveniently.
- Use the slider to select a monthly value.
- Choose a time in the month using the slide.
- Move the slider and select Interest Rate.
- Resize your FD at any time by changing the input slides.
- FD value will be calculated as soon as you move the slides.
6. Advantages of using Myitronline 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.
Frequently Asked Questions
Is the FD interest calculator free to use?
Absolutely. You do not have to pay anything to use the Myitronline’s calculators. All of our calculators are free.
How much time does it take to use the Myitronline’s FD calculator?
It takes just a few seconds.
What happens if the calculator malfunctions?
Myitronline ensures that none of our offerings malfunction. However, if you still face any issue, you can contact our customer representatives by clicking on the ‘Contact Us’ section.
How does the FD calculator help in future financial planning?
Once you know how much your fixed deposit will charge after the expiration date, you can choose to reinvest or withdraw the amount.
“Krishna Gopal Varshney co-founder & CEO of Myitronline.com. Myitronline is amongst the top emerging startups of Asia and authorized ERI by the Income Tax Department. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. ”
