Fixed Deposit maturity amount can be calculated using the FD Calculator in a simple manner using the below steps: Customer will have to select the Customer Type i.e. Normal or Senior Citizen; Select the type of Fixed Deposit i.e. Cumulative or Interest Payout (Quarterly/Monthly) or Short Term FD. Fixed Deposit Account It is an investment account with a specific amount invested at an agreed interest rate and tenor. Based on customer’s instructions, at the end of agreed period (tenor), the investment can either be rolled over (re-invested) or liquidated (returned to customer) with the interest amount earned. Avail of a loan facility up to 90% of principal and accrued interest, safe custody of your FD receipts and automatic renewal of Deposit Account on completion of tenure. Loan against the fixed deposit maybe given to the depositors at the discretion of the bank. The interest rate for FDs is fixed at the time of opening the deposit and independent of any fluctuations in the market. Some financial institutions even allow one to break their FDs prematurely on paying a certain penalty fee. An FD calculator can be used to determine the interest and the amount that it will accrue at the time of maturity.

Fixed deposits are term deposits or these deposits are a high interest-bearing deposit and offer a wide range of tenures ranging from 7 days to 10 years. In a Fixed deposit, depositors can deposit the fixed amount for the fixed period in the bank. If the depositor wants to premature the account then the bank charged some penalty. Banks pay higher interest rates on longer-term deposits.

At the time of maturity there are five types of options available for calculating the maturity amount.

• When Principal and the interest are redeemed at the time maturity

Suppose Ramesh wants to open the fixed deposit amounting Rs.5,00,000/- for 1 year and he wants to redeem all the amount at maturity. Then what will be the total amount credited in Ramesh account at the time of maturity? Rate of interest assumed as 7% p.a

Rs.5,00,000 *7%=Rs 35,000/-

Total amount at the time of Maturity is Rs.5,00,000+ Rs.35,000=Rs.5,35,000/-

• FD booked with Quarterly Payout.

When your Fixed Deposit is booked with the quarterly interest payout option, the maturity amount is the same as the principal amount. The interest amount will be credited to your account at quarterly intervals.

Example for Quartley PAyout:

Suppose Ramesh wants a Fixed deposit of Rs. 5000 for 1 year with Quarterly Interest payout assuming the rate of interest @7%p.a.In quarterly interest payout, Interest is calculated on monthly basis and credited to the customer account on every quarter. In this example, interest on Rs 5000 is calculated every month @5000*7%*30/365=28.69. Then add the three months interset 28.69+29.64+28.69=Rs.87 is credited to the customer account in first quarter and so on.

The Total Interest amount is Rs.349/- and the quarterly interest will be credited to the Ramesh account. At the time of Maturity, the Principal amount will be credited to his account.

Fixed Deposit Interest Rate In Indian Banks

• FD booked with Monthly Payout:

With Reference to the first example, the monthly interest will be credited to the customer account and the Principal Amount will be created at the time of maturity.Monthly interest i.e. Rs.5000@7%*30/365=Rs.28.69.Rounded off (Rs.29/-) credited to customer account every month and the principal amount Rs.5000/- credited at the time of maturity.

• Short Term Fixed Deposits

A Person can open the short term fixed deposits for a period of 7days to 10 years. At the time of maturity, the principal amount will be credited with the interest in the account.

Suppose Rs.5000 is deposited for a period of 60 days and the rate of the interest is 7% p.a. Interest amount will be calculated as follows:

The total amount credited at the time of maturity is Rs. 5057/-

• FD Booked with Reinvestment or Cumulative Fixed deposit

In a cumulative fixed deposit, interest is reinvested with the principal amount and compounded as per the time period mentioned. The maturity of these fixed deposits ranges from six months to 10 years.

Suppose Rs.5000/- is deposited for 2 years with the reinvestment.ROI @7% p.a.In cumulative Fixed deposit, Interest is calculated on monthly basis and added to the principal amount on every quarter. In the first quarter the interest for three months amounts Rs.76 credited to the principal amount and then in next quarter interest is calculated on Rs.5000+76=Rs.5076/- and so on.

The total amount credited at the time of maturity is Rs.5647/-

Fixed Deposit Interest Calculator

• The amount mentioned in the example is an indicative figure.
• Please refer to the FD Calculator to get the exact maturity amount.

Premature FD

As per the Terms & Conditions of Fixed Deposit Accounts of the bank, the penalty on premature closure of Fixed Deposits, including sweep-in and partial closures, has been fixed by the Bank at the rate of 1% of the fixed deposit interest rate. This is applicable with effect from 24th January 2011.

Senior Citizen Interest Rate.

Fixed Deposit Interest Calculator India

Bank will give a 0.5% extra interest rate to the senior citizen customer of the bank.

Fixed Deposit Interest Rates

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Fixed Deposit Interest Rates In Sbi