Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin
  Hurry Up!
Save tax in 80C by purchasing a Investment Plan Today View Plan

FD Calculator

A fixed deposit is the most secure investment type offered by banks and financial institutions in India. It provides the maximum benefits along with an option to choose from different policy periods. A fixed deposit calculator is an online tool through which you estimate interest earned on the investment and fixed maturity amount. It is beneficial to make calculations easier, quicker, and more accurate.

must dot
Enjoy Life Cover, Assured Returns And Wealth Creation at Best Premium
  • Tax Benefit
    Tax Benefit
    Up to 1,50,000**
  • Claim Support
    Claim Support
    Everyday 10AM-7PM
  • 45 Lacs+
    45 Lacs+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

Become Crorepati with Additional Tax saving*
By clicking, I agree to *terms & conditions  and privacy policy.

What Is an FD Calculator?

A fixed deposit calculator is an online instrument that can help you estimate the interest rate and maturity amount for your investment. You need to provide some information, such as the FD interest rate, deposit amount, and duration for which you want to invest your money to know the details. In order to make a smart investment, it is important to use the online FD calculator to be aware of the investment value.

Why Should You Use an FD Calculator?

Some of the key reasons you should consider using an FD calculator include:

  • It avoids errors that can happen while doing manual calculations.
  • You can save yourself a lot of time and effort.
  • There are fewer possibilities of miscalculations. Therefore, you get an accurate estimate according to the details provided by you.
  • It enables you to compare different options available hassle-free.

Benefits Of Using an FD Calculator

Using an FD Calculator will not only help you estimate accurate information but will also help you in many other ways. Some of them are mentioned below.

  • Simple Process:

Sometimes, the process of calculating the maturity amount for your fixed deposits can get tedious. However, an FD calculator can make the process simple and easy for you. You just need to provide some information and, within a few seconds, the results will be displayed.

  • Time-Saving:

While calculating the maturity amount for mutual funds manually, you may have to spend a lot of precious time. However, using an online FD calculator will simplify the process and save you a lot of time.

  • Easy Comparison:

There are a lot of financial institutions providing mutual funds to their customers. The FD calculator will help you calculate the maturity amount and interest rate of different institutions quickly. Therefore, you can make an informed decision by comparing all the options available.

How Is The FD Interest Rate Calculated?

There are two ways to calculate the FD interest rate: simple interest FD and compound interest FD. Both of them use different formulas to give results. Check them out below.

Simple Interest FD

Compound Interest FD

M = P + (P x R x T / 100)

M = P + P {( 1 + i/100) t - 1}


P= Deposited principle amount

R= Rate of interest per annum

T= Tenure in years


P= Principle amount

I= Rate of interest per period

T= Tenure

Factors Affecting Fixed Deposits Interest Rates

Listed below are factors that affect the interest rate charged on fixed deposits.

  • Tenure:

FD interests vary depending on the tenure chosen at the beginning of the investment. Many banks and financial institutions also provide high FD interest rates on special durations.

  • Investment Amount:

Another key factor is the investment amount. The total amount that you are investing in a fixed deposit also impacts the interest rate.

  • Auto-Renewals:

Renewing your policy on time can help you earn higher interest rates on fixed deposits. Therefore, keeping track of renewal dates is also important.

  • Age:

The age of an investor is the major factor that affects the FD interest rate. The interest rate for senior citizens is comparatively higher than for young citizens of the country.

  • Economic Conditions:

The prevailing economic conditions and changes in the monetary and fiscal policies have a huge impact on the FD interest rates.

Current Rate of Interests on FDs

In India, the highest FD rate is 7.90%, and an additional 0.50% value is given to senior citizens. Generally, the interest rate on FDs is unique according to the policy tenure and amount invested by an individual. Moreover, it varies for different institutions.

Therefore, you can use the FD calculator to calculate the FD rates for different banks, which will help you make a wise investment decision.

What Makes Life Insurance Better Than Fixed Deposits?

Fixed deposits undoubtedly are a great investment option. However, the benefits of life insurance are much more astounding. While investing your money in fixed deposits, you can save money for the future while earning returns. However, a life insurance policy provides you cover against any kind of mishappening along with an option for saving funds.

Life insurance is a contract between an insurance company and a policyholder in which the insurer promises to provide a specific sum of money in case the life assured dies or the policy matures.

Listed below are some of the reasons that justify why you should buy life insurance over a fixed deposit.

  • A life insurance will provide you with dual benefits. This means you can secure your life along with creating future wealth.
  • With a life insurance policy, you can safeguard yourself and your family members financially against any unfortunate event that can occur in the future.
  • Unlike fixed deposits, life insurance provides long-term benefits. You can even live stress-free with this plan for a lifetime.
  • A life insurance product such as pension plans, term insurance plans, and more caters to the unique requirements of individuals. Therefore, you can choose one that suits your needs.
  • Under sections 80C and 80D of the Income Tax Act, 1961, you can avail of tax benefits on your life insurance plan.

Investment Insurance Companies User Reviews

What users are saying
  • I must say that the coordinator team of InsuranceDekho is extremely helpful and supportive. They not only help...

    Read More
    HDFC Life Investment
    By Ashish Gandhi
    On: December 04, 2023
  • When I was buying the MAX Life investment plan from InsuranceDekho, I was confused about the payment process a...

    Read More
    Max Life Investment
    By Garima Negi
    On: December 04, 2023
  • I love the regular updates and alerts I receive from InsuranceDekho regarding my investments in the HDFC Life ...

    Read More
    HDFC Life Investment
    By Rupakshi Bakshi
    On: November 24, 2023
  • Transparency is key for me, and InsuranceDekho impressed me with its clear and transparent fee structure for t...

    Read More
    Aviva Life Investment
    By Sandeep Warsi
    On: November 24, 2023
  • The investment recommendations on InsuranceDekho were trustworthy and tailored to my financial goals. This per...

    Read More
    SBI Life Investment
    By Chayya Gaurang
    On: November 21, 2023

News and Articles

FAQ About FD Calculator

  • How much time does it take to use the FD calculator?

    It takes only a few seconds to use the FD calculator.

  • Is the FD interest calculator free to use?

    Yes! You can easily use the FD calculator without paying any fee. 

  • Does the FD calculator provide reliable and accurate results?

    Yes! The FD calculator provides reliable and accurate results that you can use to reach your ultimate decision. 

  • How can the FD calculator help me in my future financial planning?

    By using the FD calculator, you can easily become aware of the amount that your FD will give you once your tenure is over. With this information at hand, you can decide whether or not you would want to reinvest or withdraw the amount. 

  • What should I know before doing FD calculation?

    One of the most important things you must be aware of before your FD calculation is that you need to have all your data by your side. Moreover, it would be a must to enter the value value as per the variables so that they get the right results. 

View More Questions

Insurance Dekho Contact Details

Reach us for help anytime

Best Insurance Advisors in Your City.