How Does an FD Calculator Help Select the Right FD Scheme in 2024?

In 2024, the role of Fixed Deposit calculators becomes increasingly important in helping individuals make informed decisions about selecting the right FD scheme. These calculators serve as invaluable tools, empowering investors by providing accurate projections of returns based on various parameters.

Read more
Best Investment Plans
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Get Guaranteed returns upto 7.5%*
Invest in 100% Guaranteed Return Plans with Tax benefits under sec 80C & No Tax on returns*
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

What are Fixed Deposits?

Fixed deposits, commonly known as time deposits or term deposits, are financial instruments offered by banks and financial institutions. They represent a type of investment where an individual deposits a specific sum of money for a predetermined period, ranging from a few months to years, at a fixed interest rate. Upon maturity, the depositor can either withdraw the entire amount or choose to reinvest the principal along with the interest earned.

Fixed deposits are considered a relatively low-risk investment option, as the principal amount is generally secure, and the interest earned is assured. 

Comparison Between
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
awards
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
VIEW PLANS
*For annual premium upto ₹5 Lacs

How Does an FD Calculator Work?

Fixed Deposit (FD) calculators utilise either simple interest or compound interest formulas. 

Simple interest

It represents the interest earned on the deposited sum at a fixed interest rate over a specified period. The calculation involves multiplying the interest rate by the principal amount and the duration of time.

The Simple interest FD Calculator works based on the following formula
SI = P*R*T/100
Terms used in Simple interest FD Calculator
SI
Simple Interest
R
Interest Rate
P
Principal Amount
T
Time Period

Compound interest

It represents the interest gained on the principal deposit and the accumulated interest. The calculation involves multiplying the initial deposit amount by the interest rate raised to the duration for which the interest is compounded.

The Compound interest FD Calculator works based on the following formula
A = P (1+r/n) ^ (n * t)
Terms used in Compound interest FD Calculator
A
Simple Interest
r
Interest Rate
t
Principal Amount
P
Time Period
n
Time Period

How to Use Policybazaar’s Fixed Deposit Calculator?

Follow the 3 simple steps to calculate the FD returns online using the Policybazaar FD Interest Rates Calculator:

Step 1: Open the Policybazaar FD Calculator on the official website.

Step 2: Adjust the following details as per your choice:

  • The Principal amount you want to invest

  • Rate of interest

  • The number of years of investment (Tenure)

Step 3: The Fixed Deposit interest calculator will suggest your expected interest and related maturity returns.

fd return beater

Why is an FD Calculator Useful?

Listed below are some of the reasons why FD Calculator is useful:

  • Financial Planning: Enables effective planning by projecting future values of fixed deposit investments.

  • Accurate Projections: Provides precise estimates of maturity amount and interest earnings based on key variables.

  • Comparison Tool: Allows users to compare scenarios, adjusting parameters for informed decision-making.

  • Informed Decisions: Helps investors align deposits with financial goals and risk tolerance.

  • Time-Saving: Eliminates manual calculations, saving time and ensuring accuracy.

  • Goal Setting: Assists in setting specific financial goals and understanding deposit contributions.

  • Risk Assessment: Evaluates risk and return, aiding investors in aligning choices with their strategy.

FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years

People Also Read: Which Bank Has Highest Fixed Deposit Interest Rate?

How Can an FD Calculator Help in Future Financial Planning?

  • Projection of Returns: An FD calculator allows individuals to project future returns on their fixed deposit investments based on different variables, aiding in long-term financial planning.

  • Goal Alignment: Users can assess how fixed deposits contribute to specific financial goals, helping them align investments with their overall financial objectives.

  • Risk Evaluation: By estimating potential returns, the calculator assists in evaluating the risk and return profile of fixed deposit investments, enabling informed decisions.

  • Comparative Analysis: It facilitates the comparison of various deposit scenarios, helping users choose the most suitable options to meet their financial needs.

  • Savings Strategy: Individuals can use the calculator to strategize and optimize their savings by adjusting parameters like principal amount, tenure, and interest rate.

  • Retirement Planning: For long-term financial planning, the FD calculator can project the growth of deposits over several years, aiding in retirement planning and building a financial safety net.

  • Informed Decision-Making: By providing accurate estimates, the FD calculator empowers users to make informed decisions about their investments, ensuring a more secure financial future.

Allahabad Bank FD Interest Rates

Allahabad Bank FD Interest Rates

Andhra Bank FD Interest Rates

Andhra Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

Axis Bank FD Rates

Axis Bank FD Rates

Bajaj Finance FD Interest Rates

Bajaj Finance FD Interest Rates

Bandhan Bank FD Interest Rates

Bandhan Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of India FD Interest Rates

Bank of India FD Interest Rates

Bank of Maharashtra FD Interest Rates

Bank of Maharashtra FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Canara Bank FD Interest Rates

Canara Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Central Bank of India FD Interest Rates

Citibank FD Interest Rates

Citibank FD Interest Rates

City Union Bank FD Interest Rates

City Union Bank FD Interest Rates

Corporation Bank FD Interest Rates

Corporation Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

DBS Bank FD Interest Rates

DBS Bank FD Interest Rates

Dena Bank FD Interest Rates

Dena Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

HDFC Bank FD Interest Rates

HDFC Bank FD Interest Rates

HSBC FD Interest Rates

HSBC FD Interest Rates

ICICI Bank FD Interest Rates

ICICI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDFC First Bank FD Interest Rates

IDFC First Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

IndusInd Bank FD Interest Rates

IndusInd Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Muthoot Capital

Muthoot Capital

Nainital Bank FD Interest Rates

Nainital Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

PNB FD Interest Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

RBL Bank FD Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Interest Rates

Shriram Finance FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Travancore FD Interest Rates

State Bank of Travancore FD Interest Rates

Syndicate Bank FD Interest Rates

Syndicate Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Interest Rates

UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Union Bank of India FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Yes Bank FD Interest Rates

Yes Bank FD Interest Rates

Expand

FAQs

  • Can I use an FD calculator to compare different banks?

    Yes, most FD calculators allow you to compare FD interest rates and maturity amounts across different banks and financial institutions. This helps you choose the scheme that offers the best returns for your needs.
  • Are FD calculators accurate?

    Yes, FD calculators provide estimates based on the information you input. However, the actual maturity amount may vary slightly depending on factors like tax deductions and changes in interest rates.
  • Where can I find a reliable FD calculator?

    You can use Policybazaar’s FD calculator to calculate returns on your fixed deposit investments.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

FD Calculator

Total Investment

₹500 ₹30L
Enter Total Investment

Rate of Interest (Yearly)

1% 15%
Rate of Interest (Yearly)

Time Period

1 Year 15 Years
Enter Time Period
Interest Earned
Maturity Amount

FD Rates articles

Recent Articles
Popular Articles
BOI Current Deposits Plus Scheme

10 Jun 2024

The BOI Current Deposits Plus Scheme is a unique option for
Read more
BOI Capital Gains Account Scheme

10 Jun 2024

The Capital Gains Account Scheme, 1988, offered by the Bank of
Read more
BOI Star Flexi Recurring Deposit

10 Jun 2024

The BOI Star Flexi Recurring Deposit, offered by the Bank of
Read more
BOI MACAD - Star Motor Accidental Claimant Annuity Deposit

10 Jun 2024

BOI MACAD is a scheme by the Bank of India to handle
Read more
Bank Of India Super Special Deposit Account - Star Super Special Deposit Account

10 Jun 2024

The BOI Super Special Deposit Account, also known as the Star
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit
Read more
Which Bank has the Highest Interest Rate for Fixed Deposit?
The Small Finance Banks offer the highest FD interest rates for a tenure between 7 days to 10 years. Unity Small
Read more
SBI Fixed Deposit Monthly Income Scheme
Fixed deposits are the safest investment vehicles for Indian financial planners. You can open a fixed deposit
Read more
SBI Fixed Deposit Double Scheme
The SBI Fixed Deposit Double Scheme is named Special Term Deposit to cater to investors looking to double their
Read more
Nominee Vs Legal Heirs for Fixed Deposits
Fixed deposits are a popular investment option for individuals who wish to earn a stable rate of interest on
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL