Here’s how these factors affect the maturity amount.
- Deposit amount
The higher the deposit, the greater is the maturity amount.
Longer tenors result in a higher maturity amounts and usually carry higher interest rates.
- Interest rate
Higher FD rates result in higher maturity amounts.
- Deposit type
Cumulative FDs provide higher overall returns than non-cumulative FDs.
The easiest way to forecast your FD maturity amount is to use an online FD Calculator and add the above-mentioned details. The calculator gives you the total maturity amount instantly, without requiring any manual work.