NRI FD Calculator

Fixed Deposits or FDs, as popularly known, is one of the financial instrument options offered by almost every Indian bank and NBFCs (Non-Banking Financial Companies). Even though the (ROI) Rate of Interest varies from one provider to another, FDs relatively provide a higher interest rate as compared to most of the other saving investment options.

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Many Indian banks and NBFCs are also coming up with an option to offer Fixed Deposit Accounts to NRIs (Non-Resident Indians) so that they can also earn fixed interest on the deposited amount in their respective banks. The NRI Fixed Deposit rates may vary from the FD rates for Indian residents from one lender to another.

NRI FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

What Is Fixed Deposit?

Fixed Deposits are a type of investment account offered by various Indian banks and NBFCs. In general, the deposited amount in the FD account of an investor comes with a lock-in period that varies from 7 days to 10 years. Even though premature withdrawals are allowed by paying penalty, it is advisable not to discontinue an FD account for better returns.

To calculate the maturity amount of the Fixed Deposit at the end of the desired tenure, FD Calculator can be used for accurate results.

What Is FD Calculator?

The FD Calculator basically guides the investor about how much amount they will save in the future with their current investments. An easy-to-use and hassle-free tool, Fixed Deposit Calculator allows the investor to know the interest on income even before the investment.

How to Use NRI FD Calculator?

The FD Monthly Interest Calculator is an easy-to-use tool that helps in calculating the exact amount receivable at the time of maturity effortlessly. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate NRI Fixed Deposit rates:

  • The amount that is invested monthly

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total wealth gains during the complete tenure

Benefits of FD Calculator

The main advantages of using an FD Calculator are:

  • Save time and energy

  • Easy to use

  • Gives accurate results

  • Helps in future planning with accurate return estimations

NRI FD Calculation Formula

There are 2 types of Fixed Deposits available in the financial market;

  • Simple Interest Fixed Deposits

  • Compound Interest Fixed Deposits

Let us have a look at the formula for both kinds of FDs.

  1. Simple Interest Fixed Deposit Formula

    M = P + (P X r X t / 100)

    Here,

    M = The maturity value

    P = The principal amount deposited

    r = The Rate of Interest offered by the bank or NBFC

    t = The tenure (in years)

    Illustration:

    Mr. Rajeev deposits a sum of Rs. 1,00,000 in his Fixed Deposit account for the period of 5 years. Let us assume that the Rate of Interest offer during the tenure was 10%, hence the maturity value et the end will be:

    Maturity value = 1,00,000 (1,00,000 X 10 X 5 / 100)

    Maturity value = Rs. 1,50,000

  2. Compound Interest Fixed Deposit Formula

    M = P + P {(1 + i / 100) t – 1}

    Here,

    M = The maturity value

    P = The principal amount deposited

    i = The rate of interest

    t = The tenure

    Illustration:

    Taking the above example in consideration, the compound interest FD value will be:

    Maturity value = 1,00,000 + 1,00,000 {(1 + 10 / 100) 5 – 1}

    Maturity value = Rs. 1,61,051

    The above-mentioned formula is very useful and can be used instead of the Fixed Deposit Calculator by the investor if they trust their own calculations only and are not dependent on the digital platforms.

Written By: PolicyBazaar - Updated: 22 December 2021
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