FD Calculator for SBI, HDFC, ICICI Bank and Post Office Fixed Deposit

Fixed Deposit Calculator or FD Calculator is an online financial tool used to find out the maturity value of Fixed Deposit invested in banks or in the post office at a one-time basis for a specified period.

The FD calculator available here is one of the most accurate and user-friendly FD Calculator. This Fixed Deposit Calculator lets you identify the maturity amount and the interest earned when you open a Fixed Deposit in the bank like SBI, HDFC, ICICI, PNB, etc or in the post office.

This Online FD calculator is a versatile tool and can be used for any FD (Fixed Deposit) account opened in any banks such as SBI FD Calculator, PNB FD Calculator, HDFC FD Calculator, ICICI FD Calculator or Post Office FD Calculator.

FD Calculator for Fixed Deposits in Banks and Post Offices:

Principal Amount (Rs)	:
Rate of Interest	:
Period (in Months)	:	(avoid fractions)
Frequency of Compounding	:	Select Monthly Quarterly Half Yearly Annual None
Maturity Amount of Fixed Deposit (Rs.)	:
Effective yield	:	%

Note: The more frequent the interest is compounded, the higher the return or the future worth of your savings will be; For instance, the future value of savings with interest compounded at Monthly frequency (i.e., 12 times a year) will be higher than the same with interest compounded at quarterly (4 times a year) interval, which in turn is better than semi-annual (twice a year) compounding.

What is the Fixed Deposit or FD Calculator?

The FD calculator is easy to use financial tool that can help to perform even the most complicated Fixed Deposit related calculations with ease. Using this online FD calculator you can easily calculate the FD returns value and effective yield in %.

How to use FD Calculator for Bank and post office fixed deposits?

This FD interest calculator requires some data for calculation of the maturity value. You have to enter the correct values for input parameters for exact calculation.
Fixed Deposit Calculator for Banks and post offices requires the following input value for the following parameters:

• Deposit Principal amount
• Rate of interest
• FD tenure or Periods in months
• Compounding frequency

After calculation by this FD calculator, you will get the Maturity Amount after the maturity period and effective yield in %.

Fixed Deposit (FD)

What is a Fixed Deposit (FD)?

A fixed deposit (FD) is an investment instrument offered by banks, post offices and non-banking financial companies, where you can deposit surplus money for a higher rate of interest than savings accounts. You can deposit a lump sum of money in fixed deposits for a specific period, ranging from 7 days to 10 years. Fixed deposit is also known as a term deposit. 

Top Features of Fixed Deposit (FD):

• Fixed deposits enable investors to earn higher interest on their surplus funds without any risk.
• You can deposit money in a fixed deposit account only once, but to deposit more money, you need to create another FD account.
• Though liquidity in fixed deposits is lesser, you can look for higher rates of interests, which are higher in case of company fixed deposits.
• Fixed deposits can be easily renewed.
• Tax is deducted at source, from interest on Fixed Deposits as applicable, as per the Income Tax Act, 1961.
• Bank offers Fixed Deposit in flexible tenures ranging from 7 days to 10 years.
• Interest income monthly, quarterly or annually available in Fixed Deposit or FD.
• The partial or full withdrawal facility is available with penalty interest rates in FD.

Advantages of Fixed Deposit (FD) Account:

• Interest rates on FD:  The interest rate offered on fixed deposits are fixed as on opening date of FD and higher than that on the savings account. It is also a safe form of investment where returns are guaranteed.
• Secure investment: A fixed deposit offers guaranteed returns. Unlike market-led investments where returns fluctuate over time, the returns on an FD are fixed when you open the account. 
• Return on investment: Your return on an FD will depend on the interest rate and the type of deposit you choose. You can calculate your return of your FD by using Fixed Deposit (FD) Calculator above.
• Flexible Tenures: Bank offers Fixed Deposit in flexible tenures ranging from 7 days to 10 years.
• Loan against FD: While FDs are fixed for an agreed tenure, you can take a loan against it when you need funds. Banks offer loans against FD in the form of an overdraft, and you can get up to 90% of your FD amount. 

Disadvantages of Fixed Deposit (FD) Account:

While Fixed Deposits offer various advantages in terms of guaranteed returns, they also have a few disadvantages, including:

• Low returns: While FD returns are guaranteed, they are also low as compared to other short-term market-linked investments.
• Liquidity: Withdrawing your FD before the date of maturity leads to a penalty charge. You may also get a lower interest on the total investment when you break your FD.
• Tax returns: Interest earned through your FD falls under the taxable slab of your income. If your interest earned is higher than Rs.10,000, it will be deducted as TDS at the rate of 10%. 

Fixed Deposit (FD) Interest Rates:

FD rates of banks are determined by changes in RBI monetary policy such as repo rate, base rate, the internal liquidity position of banks, economic conditions and the level of credit demand. FD interest rates of different banks in India vary by deposit amount, deposit tenure and type of depositor. 

Fixed Deposit (FD) FAQs:

Q1. What is the highest interest rate for Fixed Deposits?

The highest rate of interest that you can get on bank FDs or post office FDs varies from time to time. So, it will be better to visit the bank or Indian postal website for correct information.

Q2. Are there any special rates for senior citizens FD?

Yes, nearly all banks provide an additional 0.5 percent rate of interest for senior citizen on fixed deposits.

Q3. What is the FD tenure range for Bank Fixed Deposit?

You can open an FD with any bank for a tenure of a minimum of 7 days and a maximum of 10 years.

Q4. Is there any minimum amount that I have to give for opening a Fixed Deposit with Bank?

You can start your bank Fixed deposit with a minimum from Rs 500 to Rs 10000, depending on the bank you choose. For post office FD, the minimum amount for FD is Rs 200.

Q5. Who is eligible for opening a Fixed Deposit Account?

Below are the groups and individuals who are eligible to open a Regular Fixed Deposit Account: Hindu undivided families, Residents, Partnership firms, Sole proprietorship firms, Trust accounts, and Limited companies.