Fixed Deposit (FD) is a reliable investment tool for preserving and growing savings. The rate of interest on your deposit depends on the tenor you choose, and the frequency of interest payouts.
The FD formula for calculation of interest is listed below:
A=P(1+r/n)^n*t
Where,
For those looking to avoid the complexities of manual calculations, there is always an option to use the online FD Calculator that evaluates your returns within a few minutes.
Using the FD calculator is very easy, and all you have to do, is to input the fixed deposit amount and tenor to calculate the amount receivable at maturity. It helps you calculate both – cumulative and non-cumulative payouts.
It is easy to use, and all you need to do is fill in details about:
The interest amount along with the total amount will hence, be reflected. It helps you save the manual work, and you can determine the return on your investment in no time.
To maximise the returns on your deposit, it is important to know the factors affecting your FD interest and amount, which have been listed below:
Based on your convenience, and the above factors, you can choose the tenors, payout frequencies, deposit types and mode of investment to grow your savings. You can choose to invest in a Bajaj Finance Fixed Deposit to get attractive rate of interest, which can enable you to maximise the returns on your deposit.
