Fixed Deposit Calculator - Calculate Your Return

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Investment per month

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Expected Returns(p.a.)

Time Period

Total Investment

Est. Earned

Total Value

Frequently Ask Questions

A fixed deposit calculator is a tool that helps you calculate the maturity value and interest earned on your fixed deposit investment. It takes into account the investment amount, tenure, and prevailing interest rate to provide an estimate of the returns on your investment. This can help you make informed decisions about your investment and plan your finances better.

A fixed deposit calculator works by taking inputs such as the investment amount, tenure, and prevailing interest rate and calculating the interest earned and maturity value of the investment. It uses a mathematical formula that takes into account the compounding frequency, which may be quarterly, half-yearly, or annually. By using this tool, you can get an estimate of the returns on your investment and plan your finances accordingly.

The penalty for early withdrawal of a fixed deposit varies from bank to bank and depends on the tenure of the deposit. In most cases, the penalty is a percentage of the interest earned on the deposit, and the exact amount can range from 0.5% to 2%. Some banks may also have a minimum penalty amount for early withdrawal. It is important to read the terms and conditions of your fixed deposit carefully to understand the penalty for early withdrawal and any other charges that may apply.

The tax implications of fixed deposit (FD) investments depend on the tenure of the investment and the investor's tax slab. If the interest earned in a financial year from all FDs held by the investor exceeds Rs. 40,000 (Rs. 50,000 for senior citizens), TDS (Tax Deducted at Source) will be applicable at the rate of 10%. However, investors can submit Form 15G or Form 15H to the bank to avoid TDS if their taxable income is below the basic exemption limit. Investments in tax-saving FDs for a period of 5 years are eligible for tax deduction under Section 80C of the Income Tax Act.

The foreclosure process for a fixed deposit (FD) varies from bank to bank. Generally, if you wish to foreclose your FD before maturity, you need to submit a written request to the bank. The bank may charge a penalty for early withdrawal, which can range from 0.5% to 2% of the interest earned or a fixed amount as mentioned in the terms and conditions. The bank will then calculate the interest earned on the deposit up to the date of premature withdrawal and pay the remaining amount to the investor.

Fixed Deposit

Frequently Ask Questions

What is a fixed deposit calculator?

How does a fixed deposit calculator work?

What is the penalty for early withdrawal of my fixed deposit?

What is the tax implication of my fixed deposit investment?

What is the foreclosure process for a fixed deposit?