Edelweiss FD Calculator

The Edelweiss fixed deposit (FD) calculator helps you find out how much interest you can earn on an FD and the value of your investment (principal) on maturity when compounding of interest is done on a monthly, quarterly, half-yearly, or yearly basis. The FD calculator helps you get accurate results instantly.

A fixed deposit, also known as a term deposit, is a guaranteed-return investment with competitive benefits. Fixed deposits do not depend upon equities, so they don’t fluctuate as per market conditions. Since FD rates do not depend upon market fluctuations, account holders get guaranteed returns at maturity.

Based on the payout method, fixed deposits are categorized into two types, such as cumulative and non-cumulative fixed deposits. In a non-cumulative fixed deposit, the interest that is accumulated is paid out monthly, quarterly, half-yearly, or annually. Investors who may be searching for a stable supply or recurrent income can consider this sort of FD.

A cumulative fixed deposit is one where the interest accrued on the invested amount is paid to the beneficiary at the time of maturity of the FD. The compounded interest is added to the principal amount to reach the final maturity amount, which is paid to the investor at the end of the tenure.

How Does The Edelweiss Fixed Deposit Calculator Work?

The fixed deposit calculator uses the below formula to calculate the maturity amount for a non-cumulative fixed deposit.

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

The fixed deposit calculator uses the below formula to calculate the maturity amount for a cumulative fixed deposit.

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. Meena is planning to invest ₹5.65 lakhs in a fixed deposit. The FD is offering her an interest rate of 7% per annum. The duration of the FD is 6 years. She wishes to receive a payout every year. Let’s put the above values into the calculator formula.

M = P + (P x t x r / 100)
M = 5,65,000 + (5,65,000 x 6 x 7/100)
M = 5,65,000 + (5,65,000 x 6 x 0.07)
M = 5,65,000 + 2,37,300
M = ₹8,02,300

Interest = 8,02,300 - 5,65,000
Interest = ₹2,37,300
Interest payable every year = 2,37,300 / 6 = ₹39,550

So, if Ms. Meena invests ₹5.65 lakhs in an FD, earning 7% interest per annum for 6 years, she will receive a yearly payout of ₹39,550. She will receive her principal amount of ₹5.65 lakhs at the end of the tenure.

Using the same example, let’s calculate how much Meena will be earning at the end of the FD tenure.

M = P (1 + r/n) ^ (n x t)
M = 5,65,000 (1 + 0.07)^(1 x 6)
M = 5,65,000 x (1.07)^6
M = 5,65,000 x 1.500730351849
M = ₹8,47,912.6 (approximately)

If Ms. Meena invests ₹6.5 lakhs for an interest rate of 7% per annum for a tenure of 6 years and chooses to receive the maturity amount at the end of the FD tenure, she will receive an amount of nearly ₹8.5 lakhs.

How To Use The Edelweiss Fixed Deposit Calculator?

Using the fixed deposit calculator is easy. Here is a step-by-step guide on how you can calculate your interest payout and maturity amount.

• The first step is to choose whether you want to receive your payout regularly or at maturity.
• The second step is to enter the amount you want to invest in the FD.
• The third step is to enter the interest rate for the FD.
• The final step is to enter the FD tenure of your choice.

The calculator will show you the interest earned and the maturity amount of your FD instantly.

Benefits Of Using The Edelweiss Fixed Deposit Calculator

There are several benefits of using a fixed deposit calculator.

• An FD calculator helps you compare the several fixed deposits offered by different banks. This will help you in optimizing your investment.
• You can adjust the calculator to figure out which FD period will offer you the maturity amount that will help achieve your goals.
• You can use the calculator multiple times for free of cost.
• The calculator helps avoid mistakes and gives error-free results.