FD Calculator, Calculate Fixed Deposit Interest Rate Online – CRED
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calculating an fd's maturity level can be a difficult and time-consuming task. however, it is possible to calculate it without cracking a sweat, using an online fd calculator.
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  • calculating the maturity of fds is a complicated process, which involves several variables, with the help of an fd calculator, since it provides you with precise statistics.
  • it allows you to save a significant amount of time while doing these complicated calculations.

you may use a fixed deposit return calculator to evaluate the maturity amounts and interest rates of various financial firms' fds. if you have all of the numbers in front of you, you will make a more informed decision.

how to use fd calculator?

here is a step-by-step guide for using the fd calculator:

  • use only a dependable online fd interest calculator, such as the one provided by CRED.
  • pick the consumer type, which varies depending on the issuer.
  • choose between cumulative and non-cumulative deposit options for maximum returns at maturity and periodic returns.
  • choose a tenor on your fixed deposit, which will vary from 12 to 60 months, depending on your needs.

the maturity amount and gross interest paid on your fixed deposit will be automatically shown on the fixed deposit calculator. you should experiment with various tenors and deposit amounts to see if the maturity amount and interest received charges change over time. this will help you properly prepare your fd investments and predict your returns before you invest.

how is the return on a fixed deposit calculated?

a fixed deposit (fd) is a secure way to save and expand your money. the rate of interest on your deposit is calculated by the tenure you choose, as well as the frequency at which the interest is charged.

the fd method for calculating interest is:

a = p*(1+ r/n)^n*t

where

  • a is the maturity amount,
  • p is the principal amount,
  • r is the rate of interest,
  • t is the number of years,
  • n is compounded interest frequency.

for example, Ram has invested ₹20,000 for 6 years at a 20% interest rate, then at the time of maturity.

a = 20,000 {1 + (0.1/4)} ^ (4 * 6)

a = 20,000 (1 + 0.025) ^ (24)

a = 20,000 (1.025) ^ (24) = ₹26,898 (approximately)

compound interest (ci) earned over 6 years = maturity amount – principal amount.

ci = 26,898 - 20,000 = ₹6,898.

how to calculate fixed deposit maturity amount?

the following steps should be taken to measure the maturity level of a fixed deposit using the fd interest rate calculator:

  • the customer must choose between two customer types: normal or senior citizen.
  • choose either a cumulative or interest payout (quarterly/monthly) or short term fixed deposit.
  • enter the fd amount.
  • choose the fd's required tenure, either in years/months/days, or in days only.
  • the customer is shown the relevant interest rate, interest level, maturity date, and maturity amount.

benefits of using CRED fd calculator

many variations exist while calculating the maturity number on your fd fund, making it a time-consuming process.

a fixed deposit interest calculator, also known as an fd calculator, instantly calculates the balance you will earn when the fd matures for your deposit amount, after taking into account the appropriate rate of interest with your selected fd scheme and tenure.

the CRED fd calculator is simple to use and completely free:

  • choose a consumer profile. 
  • enter the number you want to put into your fd. 
  • calculate the length of time you want to spend in months.

 

you may also utilise our fixed deposit calculator to compute maturity amounts with different tenures and interest rates.

computing the maturity number on your fd investment is a complicated equation that requires several variables. you can use a CRED fd calculator to:

  • calculate the balance you'll get when your fd matures for the amount you've put in.
  • make a comparison of the maturity amounts and available rates of interest for different fd schemes. 
  • you can select the tenures to make an educated decision when finalising an fd purchase.

however, keep in mind a few limits when using the CRED fd calculator, as mentioned below:

  • since tds deductions are applicable, the maturity number measured is just an estimate.
  • if you make early withdrawals, the expected sum will adjust.
  • the majority of fd calculators only function when you have a functioning internet connection.

what are the different interest rates offered by banks? 

as of march 2021, the following are the most recent interest rates proposed by top banks for terms ranging from 7 days to 10 years.

name of the bank

for general citizens(p.a)

for senior citizens(p.a)

state bank of india

2.90% to 5.40%

3.40% to 6.20%

icici bank

2.50% to 5.50%

3.00% to 6.30%

hdfc bank

2.50% to 5.50%

3.00% to 6.25%

punjab national bank

3.00% to 5.30%

3.75% to 5.80%

canara bank

2.95% to 5.50%

2.95% to 6.00%

axis bank

2.50% to 5.50%

2.50% to 6.00%

bank of baroda

2.90% to 5.30%

3.40% to 6.30%

idfc bank

2.75% to 5.75%

3.25% to 6.25%

bank of india

3.25% to 5.30%

3.75% to 5.80%

corporation bank

3.00% to 5.40%

3.50% to 5.90%

yes bank

4.00% to 6.50%

4.50% to 7.00%

indusind bank

3.25% to 7.00%

3.75% to 7.50%

uco bank

2.75% to 5.00%

3.00% to 5.40%

united bank of india

4.00% to 6.50%

4.50% to 7.00%

best fixed deposit rates in india among india's popular banks

  • for the general public, idfc bank proposes the highest fd interest rate of 5.75 per cent p.a. for a 500-day period. the interest rate for senior citizens is 0.50 per cent higher.
  • the highest fd rate among india's well-known banks is 7.00 per cent per annum, which indusind bank provides for terms ranging from 7 days to 10 years to the general public.
  • for senior citizens, indusind bank provides the maximum fixed deposit rate of 7.50 per cent for periods ranging from 7 days to 10 years.

what is the difference between cumulative & non-cumulative payout options?

accumulated fixed deposits

compounding is beneficial to an accumulated fixed deposit investment. while investing in accumulated fds, the interest received for the first year is clubbed with the principal amount of the second year, on the basis of which the interest is measured.

as a result, the amount of interest accrued grows with each passing year. however, remember that the accumulated fixed deposits can only be redeemed at the end of the term.

non-cumulative fixed deposits

it gives you the possibility of collecting monthly interest payments. you can select if you are looking to earn payouts every month, every six months, or yearly. non-cumulative fixed deposits, on the other hand, give lower total interest owing to the lack of compounding.

if you know you'll need money regularly, it's a smart idea to sign up for this fixed deposit option.

what are the factors affecting fixed deposit interest rates?

several considerations affect banks' decision to lower or raise fixed deposit rates, including the following:

  1. the rate of inflation: it is related to deposit rates. depositors should expect good returns from banks. as a result, borrowers should hold an eye on the rate of inflation, which affects loan rates. even though depositors have negative returns due to high inflation, banks seldom lift deposit rates, because it will affect their bottom line.
  2. liquidity situation: banks do not need to rely on retail fixed deposits for their needs if liquidity is sufficient, as opposed to periods when liquidity is scarce and banks must rely on their deposits.
  3. conditions of supply and demand: when there is less need for loans, banks can often increase fixed deposit rates. banks, on the other hand, lift fixed deposit rates when credit demand is high.

how to pay income tax on fixed deposit interest income?

when is the bank not liable to deduct the tds?

if the gross interest revenue from your total fixed deposits with the financial institution is under ₹40,000 per annum, the bank cannot subtract any tds.

the cap for a senior citizen is ₹50,000, whether he or she is 60 years old or older. alternatively, you can calculate the interest income using the fixed deposit calculator.

tds is deducted at a rate of 10% by the bank.

the bank measures the annual interest gain from all of your fds for them. you will be entitled to a 10% tds deduction if your interest income reaches ₹40,000. (₹50,000 in the case of senior citizens). the rest of the time, you should use the fd calculator to figure out how much interest you've received.

tds is deducted at a rate of 20% by the bank.

if you do not give your bank your pan number, they will subtract 20% tds from your account. as a consequence, double-check that your pan number is on file with the bank.

fd calculator faqs

what information is needed to use an fd calculator?

the fd calculator can be used to compute the maturity value of an amount deposited using information such as the deposited money.

what is the formula for calculating a fixed deposit?

a = p(1+r/4/100)(4*n) is the formula for calculating the maturity amount of a cumulative fd; where a id the maturity amount, p is the principal amount invested, r is the rate of interest, and n is tenure.

what is the smallest deposit amount which can be made into an fd account?

the minimum deposit level in an fd account is ₹1,000; however, there is no upper limit to the amount you can deposit.

are there any additional fixed deposit advantages for senior citizens?

yes, senior citizens benefit from higher interest rates on their savings accounts.

how to use an fd calculator?

here are the steps to use the fd interest rate calculator -

  • choose your customer type.
  • choose the type of fixed deposit.
  • choose your fixed deposit amount.
  • choose the preferred tenor of the fixed deposit.

you will then automatically see the interest amount and total amount earned at maturity.

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