✅FD Interest Calculation| Fixed Deposit Excel Calculator for Compounding, Maturity & Premature Withdrawal
In this video by FinCalC TV, we will see how to calculate FD Interest using FD Interest Excel Calculator. We will also see FD features, how compounding is done, how to calculate maturity amount & premature withdrawal amount in Fixed Deposits in banks or post office, benefits of Fixed deposits, interest rates of FD in different banks, etc. You can withdraw from Fixed Deposit or break Fixed Deposits pre maturely in case you face any emergency situation with a slightly reduced interest rate or penalty you can say.
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A fixed deposit (FD) is a type of term investment offered by several banks and NBFCs. These deposits typically offer a higher rate of interest, subject to certain terms and conditions. The amount you deposit in an FD is locked for a predetermined period which can vary between 7 days and 10 years.
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. It is a simple-to-use tool
Advantages of using FD Calculator:
Know the exact amount you will receive at the time of FD maturity using the FD amount calculator.
There are several other advantages of using FD calculator:
– Get the exact amount you are eligible for at the end of your maturity period and plan your future accordingly.
– Compare the maturity amount of different financial institutions easily.
How can an FD calculator help you?
– FD maturity calculations are complex involving multiple variables. An FD deposit calculator does all the hard work and gives you the accurate figures
– It helps you save a lot of time on these complex calculations
– A fixed deposit return calculator enables you to compare the maturity amount and interest rates of FDs offered by different financial institutions. You can make an informed decision when you have all the figures at your disposal
Frequently Asked Questions (FAQ)
Is the FD calculator free to use?
– Absolutely. You do not have to pay anything to use the FD calculator
How much time does it take to use the FD calculator?
– It takes just a few seconds.
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