This fixed deposit interest calculator can be used to see the interest payments on your fixed deposits. You can calculate the fixed deposit interest by monthly, quarterly, half-yearly and yearly. In simple words this fd interest calculator can tell you, “how much interest would i earn for my fixed deposits” for the specified amount and interest rate.
How to Use this Fixed Deposit Interest Calculator?
Using this online fixed deposit interest calculator is simple. Just follow the steps to know “how much interest would i earn for my fixed deposit?”
Enter fixed deposit money you wish to see the interest for in fixed deposit amount text box
Choose fixed deposit payment period such as monthly, quarterly, half-yearly and yearly
Specify the annual interest rate in the text box specified
Finally click on “calculate” to calculate interest on fixed deposit for specified time.
Brief Note on Fixed Deposit
Fixed Deposit or FD returns higher amount of interest comparing to normal Savings Bank account. But it should be kept for some period according to the rules and regulations of the bank. Fixed Deposit is called as Term Deposit in many foreign countries including Australia, Canada, United States and New Zealand but it is popularly known as Fixed Deposit (FD) in India. Indian banks allows to keep FD for up to 10 years, other form of FD are Recurring Deposit and Flexi Fixed Deposits.
Indian Banks normally don’t allows its customers to withdraw the FD amount before it reaches the specified period but they charge penalty for premature withdrawal if you withdraw the premature FD. For more details have a look at Wikipedia page about FD.
This online fixed deposit interest calculator is for testing purpose only. TechGyo or the developer of this app is not responsible for any calculations calculated from this calculator.