FD Calculator: Check out the latest fixed deposit rates here and calculate returns online

Bank fixed deposits (FDs) are considered one of the best investment instruments. Banks have increased interest rates for FDs over the past year, passing on some of the 250-basis points increase that the Reserve Bank of India (RBI) has made in the repo rate since March 2022. Thus, it may seem right to invest in Bank FDs as they provide maximum returns at minimal risk.   

An FD is a term deposit that ensures guaranteed investment return over a specified period. You also have a flexible pay-out option to get the interest pay-out monthly, quarterly, or half-yearly. In the case of cumulative or reinvestment FDs, you can reinvest interest income and avail of compounding benefits. When you select such FDs, you get the interest paid on maturity of your FD. The interest is compounded quarterly and reinvested with the invested principal amount during the investment period.

You don’t have to visit a bank or post office to open an FD. You can do so online with all the banks listed below. You can compare FD rates, and with a few clicks, you transfer funds online to the bank you choose to open an FD account and get the receipt without visiting a bank branch.

Moreover, you can calculate returns using an FD calculator. FD Calculator is a tool that helps you calculate the interest earnings and FDs maturity value. The calculator takes into account the below input variables to generate the result.

Amount of deposit: The amount that you deposit in an FD. It can be as low as Rs 1,000 and go up to Rs 5 crore.

Term: The period after which you get the maturity value in an FD. The deposit term in an FD ranges from 7 days to 10 years.

Interest per annum: The interest you earn in an FD. The interest rate is determined at the time of opening an FD account.

Click here to check your FD value: https://www.businesstoday.in/tools-and-calculators/fd-calculator. . You can also check the latest FD rates below: