# FD Calculator - Calculate Fixed Deposit Interest Rates & Maturity Amount

by Aman Khanna Finance

A fixed deposit which is also called a term deposit is a financial instrument that allows investors to earn by investing a fixed sum of money for a fixed tenor.  The interest rate of an FD remains the same throughout the tenor and it is usually higher than the interest rates of savings accounts.

Since all the variables in an FD are predetermined, you can estimate its returns easily. For that, you can either use an interest rate (compound interest) formula or you can use an FD calculator to calculate the FD returns automatically.

## What is an FD calculator and what are its benefits?

• An FD calculator is an online tool that is used to calculate the interest and returns of an FD. It provides the exact return of an FD which enables you to plan your finances accurately.

• You just need to select your customer category, pick an FD type, and submit details like deposit amount, tenor, etc. After that, the calculator will show the interest and maturity amount accordingly.

• Moreover, it proves to be helpful while picking an FD plan according to your financial requirements as it informs you about the various FD rates, tenors, and other options offered by different financiers.

• The complex calculations that you have to go through while calculating the FD interest manually are eliminated and you get accurate returns with just one click of a button.

• It is important to use an FD calculator to explore the available FD rates because the bank FD rates are not as high as before. To overcome this, you can invest in a corporate FD that offers a higher FD interest rate.

Letâ€™s check some of the other features of corporate FDs now:

Provides better returns

Since the FD interest rate of corporate FDs is higher, you get better returns at maturity. For instance, Bajaj Finance FD is offering an interest rate of 6.85% that is higher than most FD interest rates in 2020.

Senior citizen FDs

Many financial institutions and banks offer a higher FD rate to senior citizens and this enables them to obtain substantial returns.

For example, the Senior Citizen Deposit Scheme from Bajaj Finance grows at a 0.25% higher interest rate than regular FDs. Also, the periodic interest payouts offered by non-cumulative FDs can fulfill their requirement of stable income.

Latest FD features

Some additional features like loan against FD, online investment process, auto-renewal of FD after tenor completion, etc. make corporate FDs a convenient option for you.

For example, the multi-deposit facility from Bajaj Finance lets you deposit in different FD plans at once. Also, you can pick the tenor, deposit amount, and FD type of your choice. This facility also enables you to ladder your deposits smartly to balance out the fluctuations of the FD rates and to get multiple liquidity points that may end up saving some taxes for you as well.

A 0.10% extra interest rate will be provided on opening a fixed deposit account via an online FD form. Also, the high stability and safety ratings conferred by ICRA and CRISIL make it a perfect option to multiply your savings.

Since the tenor and interest rate of an FD is fixed, you can predict its returns before investing. You can use an FD calculator that is provided by most financiers these days to calculate the maturity amount and interest gains precisely. An FD calculator India helps you to compare various FD plans and also assists you while picking a fixed deposit plan. It can be used effortlessly to explore FD rates offered by various financiers. As bank FD rates are not favorable, you can invest in a corporate FD like Bajaj Finance that comes with high-interest rates up to 6.85%. Moreover, you also get the latest FD features like a multi-deposit facility to grow your investments smoothly.