login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

How is fixed deposit interest calculated?

mahindra-finance-author

by Mahindra Finance

|

March 22, 2024

|

1 mins read

Your fixed deposit grows based on two factors: the interest rate offered and how often that interest is added to your principal (interest payout frequency). This repeated addition of interest, called compounding, can significantly boost your earnings over time.

The formula for fd interest calculator is :

A=P(1+r/n)^n*t,

where A is the maturity amount

P is the principal

r is the rate of interest

t is the number of years

n is compounded interest frequency

Related articles

What’s the difference between NSC and FD?

Two widely trusted investment options are Fixed Deposit (FD) and National Savings Certificate (NSC). Both are time-tested, come with low risk, and ensure steady returns for you in the long r...

KNOW MORE

June 30, 2023

Build emergency fund vs payoff car loan down payment

When it comes to managing your finances, the decision between building an emergency fund or paying off debt can be challenging. On one hand, paying off debt can save you thousands of rupees in interes...

KNOW MORE

April 17, 2024

How to get Personal Loan with Minimum Documents

Introduction Are you in need of a personal loan but don’t have a salary slip as proof of income? Don’t worry, because getting a personal loan without a salary slip is possible! Many lendin...

KNOW MORE

April 18, 2024