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This Fixed Deposit (FD) calculator is based on compound interest calculation which let's users to calculate maturity of their investment as per their choice of Investment Amount, Term and Rate of interest. The Calculator also gives year-wise progress of investment with year-wise interest earned.
- Deposit Amount is invested sum under Fixed Deposit scheme.
- Term is investment year in years.
- Rate of Interest is yearly interest rate.
- Compounding frequency is time duration, at the end of which interest accumulates.
What is a Fixed Depost (FD) scheme ?
A Fixed Deposit (FD) is Bank's saving scheme in which an investor deposits a Fixed Amount for a specified period of time, for example, 1,00,000 is deposited for 5 Years at 20% interest rate.
How to calculate maturity of a Fixed Depost (FD).
Fixed Deposit is based on compound interest calculation where interest compounds every 3 months (quarterly compounding frequency). For explaination, suppose there is FD of 1,00,000 deposited for 5 years at 20% interest rate. Year-wise progress has been depicted with help of figure where we can see that 1,00,000 will yield 21,551 as interest at end of first year at yearly interest rate of 20% whiich compound quarterly.
At the begining of 2nd year, 1,21,551(1,00,000 + 21,551) will become principal amount and same will repeat for next 4 years.
Wrote : 26-05-2017 11:35:08
My age is 27 yrs. I am confuse between lic 815 and pli EA? which plan to have for 800000 for 25 years?? Please suggest?
Replied : 26-05-2017 16:13:56
Dear Anil,
Please Jeevan Anand Calculator and PLI EA Calculator to understand approx benefits of both the plans to decide which one is best for you. Please note: Jeevan Anand will avail risk cover equal to sum assured for life time after maturity without paying any premium.
Wrote : 03-04-2017 19:19:35
Comparison between LIC FD & bank FD
Replied : 04-04-2017 19:54:21
LIC does not have Fixed deposit but it has single premium plan. We will write comparison between Fixed deposit and LIC single premium plan and let your know.
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