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Introduction • Fixed Deposits (FDs) are a popular investment option for individuals looking for a safe and secure way to grow their savings. However, calculating the returns on an FD manually can be time-consuming and prone to errors. This is where an FD Calculator comes in handy. • An FD Calculator is a tool designed to help investors determine the maturity amount and interest earned on their fixed deposits. It simplifies the calculation process by providing accurate results based on the principal amount, tenure, and interest rate.
Factors Considered in Calculation • Principal Amount: The initial investment made by the investor. • Tenure: The duration for which the FD is held. • Interest Rate: The rate at which interest is compounded, usually expressed annually.
Steps to Use an FD Calculator • Using an FD Calculator is a straightforward process that involves a few simple steps. • Inputting Principal Amount • Enter the amount you wish to invest in the FD as the principal amount. • Selecting Tenure and Interest Rate • Choose the tenure (in months or years) and the applicable interest rate for the FD. • Viewing the Maturity Amount • Once you input the required details, the FD Calculator will display the maturity amount along with the interest earned.
