DHFL FD Calculator

The DHFL Fixed Deposit (FD) calculator calculates the FD maturity value and interest income based on principal amount, FD interest rates, and tenure. The calculator is simple to use and comes in handy for beginners and seasoned investors.

A fixed deposit is a deposit in which a sum of money is locked for a fixed period. The FD’s tenure and interest rate are decided ahead of time. Once the term comes to maturity, the depositor receives the invested principal sum with maturity interest.

There are different types of FD schemes available in India, including cumulative and non-cumulative FDs. In a cumulative FD, interest will be calculated at quarterly compounding intervals on term deposits and paid at the rate decided by the bank depending upon the period of deposits. In a non-cumulative FD, interest is not accumulated but paid to the depositor at regular intervals. This ensures a passive income for the depositor.

How Does The DHFL FD Calculator Work?

Below is the formula to calculate the maturity amount for non-cumulative fixed deposits.

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
t is the tenure in years

Below is the formula to calculate the maturity amount for cumulative fixed deposits.

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
n is the number of times the amount is compounded
t is the tenure in years

Example:

Ms Shriya is planning to deposit ₹45 lakhs. She is looking to deposit the amount for 9 years. The deposit is earning her an interest of 7.2%. She wishes to receive a payout every month.

Calculating the interest amount and maturity amount using the above formula:
M = P + (P x t x r / 100)
M = 45,00,000 + (4,50,000 x 9 x 7.2/100)
M = 45,00,000 + (4,50,000 x 9 x 0.072)
M = ₹74,16,000

Interest = 74,16,000 - 45,00,000
Interest = ₹29,16,000
Interest payable every month = 29,16,000 / 108 = ₹27,000

If Ms Shriya deposits ₹45 lakhs in a fixed deposit scheme, earning her an interest of 7.2% and stays invested for 9 years, she will earn a payout of ₹27,000 every month. At the end of the investment tenure, she will earn the principal amount of ₹45 lakhs.

Let’s see how much Ms Shriya will earn if she invests in a cumulative FD.

M = P (1 + r/n) ^ (n x t)
M = 45,00,000 (1 + 0.072) ^ (1 x 9)
M = ₹85,53,277

If Ms Shriya invests ₹45 lakhs in an FD scheme, earning an interest of 7.2% for 9 years, and keeps her investment until maturity, she will earn an amount of over ₹85.5 lakhs.

To use the DHFL FD calculator, follow these steps:

To calculate the maturity amount for your FD, all you have to do is input the following data:

• Enter the deposit amount.
• Type in the interest rate.
• Specify the tenure in which you are planning to stay invested in the FD.

Once you enter the details, the calculator will show the estimated maturity amount and total interest amount.

Benefits Of Using The DHFL FD Calculator

Using an FD calculator can benefit deposits in the following ways:

• The fixed deposit calculator is pretty easy to use. All you need to do is enter some basic details to figure out your maturity and interest amount.
• The calculator saves a lot of time and eliminates the risk of errors caused because of miscalculations.
• The calculator can help you compare the maturity amount and interest rate of different banks and help you choose the one that is best for you.
• The calculator can be used for free for as many times as you like.