How to Calculate Fixed Deposit Maturity Amount?
The maturity amount of a Fixed Deposit is based on:
- Deposit amount
- Rate of interest
- Frequency of interest payout
Here’s how maturity amount is calculated:
- Deposit amount: Higher the deposit, greater is the maturity amount.
- Tenor: Usually, FDs have a lock-in period. Longer tenor results in higher maturity amount.
- Deposit type: Cumulative and Non-Cumulative FDs have different frequencies of interest payouts.
- Interest rate: Higher fd rates, higher is the maturity amount.
The easiest way to calculate the maturity amount is to use an online FD Calculator and add the above-mentioned details. The calculator gives you the total maturity amount without any manual work.