FD Calculator

Total Investment

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Return rate (p.a)

Time period (Y)

FD Calculator | All You Need To Know

Banks and other Non-Banking Financial Companies (NBFCs) offer several investment products to their customers to help save and grow their money. One such investment option is Fixed Deposits, also known as FDs. A Fixed Deposit is a type of investment in which you can deposit your funds for a fixed period.

Fixed Deposits are a popular pick among investors for both mid to long-term investments due to the twin benefits of minimal risk and fixed interest rates. They typically provide higher returns than many savings accounts.

FD accounts enable investors to invest money for a fixed tenure at a predetermined interest rate. It is beneficial for individuals who are willing to deposit a considerable amount of their income into a Fixed Deposit so that the invested sum steadily multiplies over time. This period can range anywhere from 7 days to 10 years. Usually, longer investment durations attract higher interest rates and yield greater returns.

It is important to note that once you have decided the tenure, the interest rate on the FD remains the same throughout that period, irrespective of any market fluctuations. The interest earned on the Fixed Deposit is either received in full on maturity or can be deposited into the investor's account regularly, depending on the choice of the FD plan.

What Is Kuvera's FD Calculator?

FD is an easy and efficient way to save money for those who find it hard to save a part of their income for their future. The FD calculator is a tool that helps investors know how much their money can grow during a denure at certain interest rates.

The Kuvera Fixed Deposit calculator allows potential investors to calculate the amount of interest they are likely to earn on a FD. It takes into account the principal amount, tenure, and applicable rate of interest to calculate the maturity amount in the end. This calculator allows investors to compare the interest offered on FDs by different financial institutions for a fixed period of time. You can use Kuvera's simple and user-friendly online calculator to estimate the maturity of FD.

How to Use Kuvera's Fixed Deposit Calculator?

Kuvera's Fixed Deposit calculator makes the complicated process of calculating the returns on FD simple and easy. With just a few clicks, Kuvera will offer all the relevant information required to make the best choice for your Fixed Deposit. You can calculate the interest on your FDs and the total amount you will receive on their maturity. Follow these steps to use the Kuvera FD calculator:

Firstly, enter the amount you would like to invest
Select the tenure of the Fixed Deposit
Enter the rate of interest.
Lastly, choose your compounding periods i.e. monthly, quarterly, half-yearly, or yearly.

Based on the above-mentioned data, Kuvera's online FD calculator calculates the following:

Total investment
Interest earned
Maturity value

Fixed Deposit Calculation Formula

Now, let us learn how these FD calculators work. We have shared some formulas used by FD calculators to compute the interest and maturity amount:

1) Formula for calculating simple interest

SI = P*R*T/100

SI= Simple Interest

P= Principal Amount

R= Rate of interest (in %)

T=Tenure of the Fixed Deposit

Let's understand the formula better with the help of an illustration:

Mr. Ajay invested a sum of Rs. 10,000 for 5 years at a 10% interest rate per annum.
On maturity, the simple interest he earns will be:

Rs. 10,000 x 10 x 5 / 100 = Rs. 5,000

Maturity Value = Principal amount + Simple Interest
Therefore, the total maturity amount is Rs. 15,000 (Rs. 10,000 + Rs. 5,000)

2) Formula for calculating compound interest

A = P (1+r/n) ^ (n * t)

A= Maturity amount

P= Principal amount

r= Rate of interest (in decimals).

n= number of compounding in a year

t= number of years

Let's understand the formula better with the help of an illustration:

Mr. Ajay invested a sum of Rs. 10,000 for 3 years at a 10% interest rate compounded quarterly.
At the time of maturity, the calculations are as follows:

A= 10,000 [1+ (0.10/4)] ^ (4*3)

A= 10,000 (1 + 0.025) ^ (12)

A= 10,000 (1.025) ^ (12)

A= ₹13,449 (approximately)

Interest amount= ₹13,449 - ₹10,000 = ₹3,449.

Benefits Of Kuvera FD Calculator

Kuvera FD Return Calculator allows investors to compare the maturity amounts and interest rates on Fixed Deposits offered by different financial institutions. It enables them to select the FD that best suits their requirements and maintains an easy tally of how much return is offered by each Fixed Deposit.

Suppose you are looking for strategies that increase wealth and can secure and offer financial returns in a short time. In that case, FDs can be an incredible tool against financial stress and economic challenges. Before investing your hard-earned money in a FD, you must first compute the estimated return offered using an Kuvera Online FD calculator. Kuvera's FD calculator helps with the following:

Interest Rate Calculation

An efficient FD calculator can help you calculate the monthly, quarterly, and annual applicable rates of interest on your Fixed Deposit investment. It will help you compare the rates of interest offered by different banks so that you can choose your FD plan accordingly.

Contribution

By using the FD calculator, you can calculate the interest payable and returns on FD. This will help you decide on the principal investment amount. You can adjust the principal amount in the FD calculator to find out the best Fixed Deposit plan to meet your financial goals.

Analysis

The FD calculator primarily helps you analyse the principal investment and targeted returns. If you have an investment value in mind, you can use the FD calculator to calculate the estimated return. Such analysis will enable smarter investments and the desired returns on the maturity of the FD.

Features Of A Fixed Deposit

Safe and steady returns: The most attractive feature of an FD is the assured returns on investment. The returns are guaranteed as soon as the FD is opened, making fixed deposits better and more secure than many other forms of investments. The rate of interest on Fixed Deposits is fixed.
Flexibility of tenure: Another feature of FDs is that they have flexible tenure. You can choose to invest funds for a period ranging from seven days to nearly a decade. However, it is important to note that the interest rate varies depending on the tenure of the Fixed Deposit.
Easy to open: You can easily invest in Fixed Deposits with a savings account by visiting a bank branch or doing it online.
Tax saving benefits: Indian banks offer tax-saving bank Fixed Deposits that help an investor claim tax exemptions.
Loan against FDs: You can easily take a loan against a Fixed Deposit to take care of any emergency expenses rather than going for other loan options with a higher rate of interest.

Thus, a Fixed Deposit allows you to park your funds with the bank and grow your wealth as you sit back at home and relax. Check out the list of FD's available on Kuvera here, and book one within minutes!

How To Invest In An FD On Kuvera

Download the Kuvera app and complete the KYC which is mandatory to invest.
Go to Invest > Fixed Deposits and check out FD options from multiple banks and NBFCs. Compare tenures and interest rates to choose and FD that works best for you.
Complete the payment process and you are done within minutes!

Conclusion

The returns on Fixed Deposits are guaranteed as soon as the FD account is opened, making them better and more secure than many other forms of investment. The rate of interest on FDs is fixed.

Overall, FDs are beneficial for everyone, be it young individuals who have just started working and are looking to save a minimal yet permanent amount every month or those who have retired and are looking to earn a fixed return for themselves.

Fixed deposits are also beneficial for spendthrifts who find it difficult to save money. By parking their funds with the bank, they make money and save money for unforeseen situations.

FAQs

Online investing in India simplified - Kuvera

Are you looking to invest in direct mutual funds or stocks?

Welcome to Kuvera — the first 100% free online investment and financial planning platform. Discover the best investment options without subscription fees, hidden charges, or commissions, and give more power to your investments.

At Kuvera, we make investing easy, and the experience awesome. Benefit from our AI-powered technology to super-charge your investments. Set your financial goals, invest in only direct plans, minimize your long term tax impact through tax harvesting, manage family accounts, consolidate your entire investment portfolio, and more.

How to Select and Invest in the Best Mutual Fund Plans in India?

Starting your investment journey with mutual funds can be challenging. At Kuvera, we make it easier with goal planning, selection of funds, tax optimisation, and more. Create your financial goal to know the required investment amount as a lump sum and/or SIP and check out our intelligent recommendations of funds. Or choose your preferred MFs and get started. Kuvera is an online investment platform that offers direct plans with zero commissions and charges zero subscription fees.

Are you searching for the best direct mutual funds to invest in?

The Kuvera app is one of the best mutual fund apps you can use to select investments for your portfolio. Simply follow the given steps:

Step 1: Download the Kuvera app on your smartphone, or sign up on our website with your email id and mobile number. Step 2: Get on board with our quick and simple KYC flow. Step 3: Go to 'Invest' and discover direct mutual funds based on your requirement.

There are several ways to find the best-performing mutual funds on Kuvera. Explore different categories of mutual funds based on your risk appetite, including equity, debt, and hybrid funds. You can also consider investing in global funds and NFOs through Kuvera.

You can also plan your specific financial objectives like owning a home, child’s education, a dream wedding, or building a retirement corpus through goal-based money investment. Enter the amount required for your goal, and the time you have. Viola! Kuvera will tell you how much you need to invest and the best mutual fund schemes that will help you accomplish the goal.

Keep Track of Top Stocks with Kuvera

To maximise your wealth, the key is to find stocks that have the potential to outperform the market. Before buying, you need to do thorough research on the stock's fundamentals. Kuvera makes it easy to find the best shares to invest in with all the necessary details in one place.

Search for any stock and track share prices on the Kuvera app. Keep an eye on stocks that are top gainers/losers for the day, or ones with 52-week highs or 52-week lows, along with total market capitalization.

Click on any stock you want to analyse on the Kuvera, the best investment app, and get all the details you’ll need.

The stock’s real-time price
Day’s high
Day’s low
52 week high
52 week low
1-year return
5-year return
Price-to-earnings (PE) ratio
Price-to-book (PB) ratio
Earnings per share (EPS)
Market cap
Trading volume
Dividend yield

You can also check the company’s detailed history and its financials, including the balance sheet, income statement, and cash flow. What’s more, you can also compare these details of stock with industry peers on the Kuvera app.

Import your stock portfolio on Kuvera and get a single view of all your investments. Track MFs, stocks, FD and insurance - all on one dashboard.

International Money Transfer with the Kuvera App

At Kuvera, we offer a faster and more affordable option for international money transfer through our partner Wise (formerly Transferwise). It is a smarter alternative to traditional international transfers and makes it easy to send money to your loved ones.

In contrast to some providers who sneak a markup into the exchange rate, Wise uses an exchange rate provided by Reuters to ensure fair and low-cost transfers. There are no hidden charges involved, and you can track the status of your transfers.

Transfer your money online using Wise through these few simple steps:

Step 1: Create a free account with Wise on its website or app. Step 2: Enter the transfer amount and your bank details. Step 3: Input account details from the Kuvera app. Step 4: Enter the rest of the required details and click ‘Confirm’. Step 5: Pay for your transfer using your preferred payment method.

In addition to the various benefits of transferring money through Wise, you can win an Amazon Pay Gift Card worth Rs. 1000 on your first international money transfer.

Invest in fixed deposits with the Kuvera App

Fixed deposits are one of the oldest and safest investment options offered by financial institutions. As an individual, you may want to diversify your portfolio by investing in such safe and fixed-income investments. That is why the Kuvera app lets you compare interest rates and invest in FDs.

Fixed Deposit facilities offered by Bajaj Finance Limited (“BFL”), Shriram Finance Limited ("Shriram") and Mahindra Finance Limited ("Mahindra") through commercial arrangements between Vueark Technology Services Private Limited (“VTSPL”), a 100% subsidiary of AASPL, and each such Fixed Deposit issuer.

To invest in FDs through the Kuvera app, follow the given steps:

Step 1: Go to the ‘Invest’ section and click on FD. Step 2: Find the best FDs for your investment based on your preferred tenure. Step 3: Click on the name of the investment to view the details, and then select 'Start FD'. Step 4: Enter the investment amount, tenure, and deposit option (cumulative/non-cumulative), and click on ‘Continue’. Step 5: Add details of your bank account to start investing.

You can compare FDs with similar tenure on the Kuvera app to find which financial institution is offering the best interest rates. Moreover, our app lets you calculate your returns from investments.

Why Choose Kuvera?

Are you looking to invest in direct mutual funds or stocks?

By investing in direct plans on Kuvera, you can earn up to 35% more in 20 years as you do not have to pay any commission ever.

For a longer answer, take a look at some of the benefits you will get by investing through our website/app.

100% free platform: A big reason why people consider Kuvera to be the best investment platform in India is that we impose no charges/fees. Kuvera’s online platform is completely free to use, with no feature locked behind a paywall. There are no fees, hidden commissions, or AUM linked charges
On your side: At Kuvera, we want you to invest at your own pace and comfort. We enable you to become your own wealth manager. And that’s why we created an investing experience that has no place for any #FOMO or pressure. You won’t find “hot tips”. Kuvera is your safe space to invest.
Switch to direct plans with Tradesmart: Regular plans for mutual funds can be cumbersome and expensive. But, what can you do if you already have one? We offer Tradesmart, which lets you switch to direct plans of the same plan. Now, you have no need to continue paying commissions.
Achieve your financial goals: Everyone has a dream, which might involve owning a car, purchasing a new home, sending kids abroad for education, or having ample funds after retirement. With Kuvera’s goal-based investment, you too, can make your dreams a reality.
Better account management: With Kuvera’s automated tracking facility, you can easily track your entire investment portfolio. You can also let your financial advisor guide your investment decisions by adding him/her as a manager to your Kuvera account.
Manage your family’s account: You can add multiple accounts to your login ID, which will allow you to look after your family members’ investments.

Kuvera is the one platform for all your investment needs. We have an experienced team of data-driven ex-money managers and technologists who understand your investment-related requirements.

Frequently Asked Questions

1. Can I start an SIP using the Kuvera app?

Yes, you can start a Systematic Investment Plan (SIP) using the Kuvera platform. Create your goal to get our recommendations, or find an MF of your choice. Select it and enter the amount for SIP and / or the lump sum amount you want to invest. If you do not have a folio, you can create a new one to start investing.

2. What is the use of following goal-based money investment?

It is common to spend money impulsively on things like a fancy gadget or an expensive vacation and end up not having enough funds for the important stuff. A goal-based investment prevents this as you are less likely to take money away from your goal of child’s education or retirement. When the money is tagged against a goal, we get more committed to ensure the financial goal is on track.

3. How do I create my financial goal on Kuvera?

To create your financial goal, follow these steps:

Step 1: Go to Create a Set a Goal Step 2: Enter an estimated cost of that goal. Step 3: Enter your age, investment period, planned loans, and upfront investment (if any). Step 4: Kuvera app will show the required monthly investment for this goal. Step 5: Add this goal to view recommended investments.

4. How does Kuvera’s Tax Harvesting technique work?

Tax Harvesting is a technique that involves benefitting from LTCG tax on equity funds. Long-term capital gains earned from equities and equity-related investments are taxable at a 10% rate on returns above Rs. 1,00,000 in a financial year. If you sell and buy back part of your investments every year, you can save on taxes. This utilises the ₹1 Lakh annual LTCG exemption by selling and buying back part of your investment such that you “realise” gains and not pay taxes on the exempt Rs 1 Lakh of LTCG. At Kuvera, we monitor your portfolio and recommend a transaction when applicable. We use sophisticated modelling to decide when is the right time to harvest taxes. Then we recommend the transactions you need to execute to harvest LTCG.

5. Why would I want to switch from a regular plan to a direct plan for mutual funds?

In regular plans, you pay commissions to the broker or the distributor, which can be as much as 1.5% of the value of your holding, every single year. This 1.5% leakage can make a huge difference, if you look at the compounded value over years. By investing in Direct Mutual funds, you save this commission every year. If you compare an investment of Rs 1 lakh in a Direct Plan and a Regular Plan, your investments will be worth 35% more in just 20 yrs when you invest in Direct Plans.

Direct MF plans are better than regular plans because they generate higher returns, have higher NAV, have no risk of mis-selling and give you full control of your investment.