Fixed Deposit Calculator

Fixed Deposit can be a lucrative option for those who have some money lying around and want it to invest in some asset that can fight inflation and still grow. You can use the FD Calculator to calculate and plan your investment in a Fixed Deposit.

How to use Mudra Nidhi FD Loan Calculator?

Fixed Deposit or FD is an important account that is widely used by people to save their money. It is an investment tool provided by the banks.
Mudra Nidhi’s FD Loan calculator is a calculator that helps you forecast the maturity amount that you’ll be entitled to receive once the FD Account reaches maturity.
In Mudra Nidhi’s FD Calculator, there are three elements that you’ll have to set to calculate your interest earned- Deposit Amount, Interest, and Tenure. 
You can follow these steps to get started with using the Mudra Nidhi’s FD Loan Calculator-

• The very first step is to enter the deposit amount that you want to deposit into your FD Account. You can either use the slide or Enter the figure in the deposit amount field.
• Now, you’ll have to decide the interest offered by your Bank against your FD deposit. You can use a slide or given field to enter the interest rate
• Now, from the dropdown menu, you’ll have to choose the tenure you want to deposit your amount for. You can select up to 10 years for the tenure and a minimum of one year.
• After setting up all these options, you’ll find your maturity amount along with the interest earned displayed on the screen

What is a Fixed Deposit?

A Fixed Deposit is a term-based investment tool offered by many Banks and NBFCs to the investor. For this investment, the investor gets an interest amount and the amount deposited will remain intact for this period.
It is a taxable investment so the interest earned will be taxed although there are some tax-saving FD account that makes the investment tax-free as well. This type of account is good for those who want to keep their money safe and fight inflation as well.

How can the FD Calculator Help you?

Calculating the Maturity amount can be a time-consuming and complex task as it requires dealing with complex mathematical formulas.
With an online FD Calculator like Mudra Nidhi’s FD Calculator, you can easily enter the amount, interest rate, and tenure to find every single detail about the FD calculator.
The following are the ways that an FD Calculator can help you in calculating the FD deposits-

• You can save a lot of time by calculating complex calculations
• An FD Calculator helps you by striking out all the complex formulas and calculations from the picture and only involving you enter the amount, interest, and tenure for you to get all the information related to your FD Account
• You can compare various interest offered by different banks so that you can make an informed decision before investing the amount into the FD Account

The formula used for FD Calculation

The formula used for FD calculation will help you understand how the FD calculator works. You can also build a knowledge base by learning the formula for calculating the FD calculation. The following is the formula to calculate the Maturity amount of a Fixed Deposit-
M = P + (P*r*t/100)
Here, M stands for the Maturity Amount
P stands for the principal amount that you’ll invest in the account
r is the Rate of interest and t is the Tenuer of the investment

Example

If you deposit Rs.1,00,000/- for a year into FD Account and the bank provides you an interest rate of 8.25% then the calculation for the Mautiry amount will be as follows-
M= 1,00,000 + (1,00,000* 8.25 *1)/100
M= 1,08,250
Interest Earned= Maturity Amount (M) – Principle Amount (P)
Interest Earned= Rs.8,250/-