There are two types of FD that you may avail – simple interest FD and compound interest FD. The formula to determine FD maturity amount

You can make an informed decision when you have all the figures at your disposal.

A fixed deposit return calculator enables you to compare the maturity amount and interest rates of FDs offered by different financial institutions.

It helps you save a lot of time on these complex calculations.

A Fixed deposit calculator does all the hard work and gives you accurate figures just at the click of a button.

FD maturity calculations are complex involving multiple variables.

An online FD calculator enables one to figure it without breaking a sweat. How can an FD calculator help you?Ĭalculating the maturity amount of an FD can be a complicated and time-consuming process. It is a simple-to-use tool available on the Groww website. An FD calculator can be used online to determine the interest and the amount that it will accrue at the time of maturity. Some financial institutions even allow one to break their FDs prematurely by paying a certain penalty fee. The interest rate for FDs is fixed at the time of opening the deposit and independent of any fluctuations in the market.

The amount you deposit in an FD is locked for a predetermined period which can vary between 7 days and 10 years. These deposits typically offer a higher rate of interest, subject to certain terms and conditions. A fixed deposit (FD) is a type of term investment offered by several banks and NBFCs.

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