Overview of FD Calculator

Fixed Deposits or FDs is a long-term investment made by people for a secure future. Investors can select a predetermined duration for the bank to hold their deposit. In general, FD investments offer higher interest rates than savings accounts, making them a better choice for building long-term wealth. We provide a free tool to calculate your FD amount over a period of time or say when the investment expires, known as the maturity amount.

Tax Benefits on FDs

Fixed Deposits schemes are taxed similarly to other investment and tax-saving personal instruments. If the total interest earned from an FD surpasses ₹ 10,000 in a single financial year, a 10% TDS is applied to the returns. When we compare this to the SIP programme, it is clear that SIPs offer greater long-term benefits. Any SIP that invests in ELSS (Equities Linked Mutual Funds) beyond one year is likewise tax-free because long-term returns from equity are tax-free.

Frequently Asked Questions (FAQs)

• Can I use the FD calculator for free?

  Yes! It is absolutely free where you just need to know the variables to enter.

• If I use the FD calculator, will it take more time?

  No! It will only take a few seconds.

• Is the FD calculator accurate?

  The FD calculator is 100% accurate.

How Do I Use the FD Calculator ?

• Step 1: Verify that you have access to all relevant data.
• Step 2: Type the variables into the spaces given for them in the formula.
• Step 3: A prompt display of the FD maturity amount will follow.