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11 January 2018, 13:31   Report Abuse

Business Loan





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What is the best way to calculate the maturity amount of Fixed Deposit 



13 January 2018, 22:21  

Inderjeet

Founder at Business and Investment Plan



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Compound Interest……

17 January 2018, 18:23  

Aman Khanna

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The interest rate for fixed deposits are decided by the lending institution after considering the profile of the investor, his/her age and the tenure of investment. Based on the financial institution you choose for your investment, which could be a bank or a Non-Banking Financial Company (NBFC), the rate of interest will vary from 3% to more than 8% per annum. Here, if you are an employee of the financial institution, or if you have availed a debt product of the bank/NBFC or if you are a senior citizen (60 years or older), the interest paid will be higher as compared to new FD investors. Hence, when you invest in a fixed deposit of any bank or NBFC, you need not worry about calculating the interest rate as you will be informed about the same.

If you want to calculate the amount earned at maturity or after a particular time period, like a month, quarter, 6 months or a year, you can use a fixed deposit calculator. These are available online as free use tools wherein you will have to input the values of the amount invested, tenure and interest payout frequency. The interest rate is already set within the system for most cases.





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