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Fixed deposit is a term deposit scheme offered by banks and corporations in India, with tenures ranging from 7 days to 10 years. There are two kinds of fd schemes viz., cumulative and periodic interest payout. Interests on cumulative FDs are compounded quarterly and paid on maturity. Short term deposits and FDs with interest payout are usually paid in simple interest. Refer to MIS calculator for term deposits with monthly interest payout. On this page, our focus is on cumulative fixed deposits.

See FD interest rates for information on rates offered by post office and leading banks in India including SBI, HDFC and ICICI bank.

Following is the formula for calculating cumulative fixed deposit with quarterly compounding:-

A = P . (1 + r/4)^{n}

Where,

A = Maturity amount

P = Investment amount

n = Number of quarters

r = Annual interest rate in %

Disclaimer:- The content of this website does not constitute financial advice and is solely meant for information purpose. The calculations are accurate as per the prescribed formula.