Fixed Deposit (FD) Calculator
What is a Fixed Deposit?
A Fixed Deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
Benefits of Investing in FD
Guaranteed Returns
Unlike market-linked investments, FDs offer a fixed, pre-determined interest rate.
Flexible Tenure
Choose a tenure ranging from 7 days to 10 years based on your needs.
High Liquidity
Most banks allow premature withdrawal with a small penalty.
Loan Against FD
Get a loan or overdraft facility up to 90-95% of your FD value.
Types of Fixed Deposits
Standard Fixed Deposits
The most common type where you deposit money for a fixed period at a fixed interest rate.
Tax-Saving FDs
These have a lock-in period of 5 years and offer tax deductions under Section 80C.
Senior Citizen FDs
Special FDs for people above 60, offering higher interest rates (usually 0.50% extra).