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FD and RD calculators: How do they function?

Banks are safe as they guarantee fund security and access. You rely on their services and open a Bank Account to enjoy its benefits and features. It is also a popular financial product offered by all banking institutions in India with varying interest rates. Deposit schemes also offer higher interest for capital appreciation.

When you open Term Deposit, it is ideal to use an FD calculator to compute the estimated returns with interest over the tenure. The interest depends on the chosen tenure and frequency of payouts. The formula for interest calculation is A = P(1+r/n)^n x t. Here, A refers to the maturity amount, P denotes the principal amount, R is the interest rate, N is the frequency of compounded interest, and T is the tenure.

How do they function?

It is easy to find online tools for all investments. They assist in calculating the returns and planning finances. You must enter the tenure and deposit amount for calculating the returns on maturity. It assists you in calculating cumulative and non-cumulative payouts. Fill in the customer type, Deposit type, amount, and tenure to reflect the interest and maturity amount. You save time in manual calculations and determine the investment returns instantly.

What is the minimum investment amount?

The minimum amount you can invest in an FD varies between banks. You can start with Rs. 500 and deposit the same throughout the tenure. There is no limit on the maximum deposit amount. Therefore, you can compute the figures flexibly on the FD calculator online.

How to maximise returns?

If you want to maximise your returns on the Deposit Accounts through the Banking app, you must know the factors associated with the final maturity amount. Higher deposit amounts mean higher interest. The longer the tenure, the higher the interest. Also, a higher interest rate yields a greater interest amount. The interest frequency of the RD is monthly, quarterly, half-yearly, and annually.

However, frequent interest compounding decreases the amount. You can invest in Deposit Accounts and get guaranteed returns since they are a traditional and reliable investment method.


A Fixed and Recurring Deposit Account is a secure investment avenue offering fixed returns. Many banks are offering these online and making them easier to operate. You can skip the physical process of visiting the bank to open them. If you enter the variables correctly, there are no chances of errors while using the FD interest calculator. Use it at any time and from anywhere without any hassles. You can also use it to compare the performances of other schemes.


The Deposit Account tenure starts from six months and extends to 10 years. You can select it in multiples of three months after the first six months, i.e., nine months, 12 months, 15 months, etc., and invest in them. Additionally, they are free from market fluctuations.

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