Federal Bank, a leading private sector bank in India, caters to a wide range of financial needs of its customers. Among its services, one of the most popular is fixed deposits. With competitive interest rates on investments, account holders can keep on earning with guaranteed returns. Besides, the Federal Bank also offers an online financial tool that enables individuals to calculate their potential earnings generated from an FD scheme.

Here, we will walk you through a comprehensive guide on the Federal Bank FD calculator and other associated details that you need to know.

Federal Bank FD interest calculatoris a financial tool with which you can calculate the interest earned and the maturity value of your FD investment. This tool takes into account the principal amount, FD tenure, and interest rate to estimate the value at maturity and cumulative interest earned on your investment.

An FD calculator, just like a Federal Bank FD interest rates calculator,provides a user-friendly interface where individuals can easily input their FD investment details such as the principal amount, rate of interest, and FD tenure. The online calculator uses a mathematical formula already programmed into it and displays the results almost instantly.

These are the features of theFederal Bank FD Calculator

• Provides accurate results

• Comes with a user-friendly interface

• Responds well on all devices

With the Federal Bank FD calculator , you can change the inputs and follow the change in results on a real-time basis. This feature will let you compare varying interest rates and choose the best investment strategy for your unique financial goals.

You can calculate the interest and maturity amount with the following formula.

1. Formula

M= P + P {(1 + i/100) t – 1}

Here,

• P = principal amount

• t = tenure

• i = rate of interest per period

2. Calculation With Example:

If you deposit ₹1 lakh for 6 years, the Federal Bank FD interest rate would be 6.60%. Thus, the equation reads:

M = 1,00,000 {(1 + 6.60/100) 6 - 1} = ₹1,48,108

It means that your maturity value would be ₹1,48,108 and your interest gained from the investment would be ₹48,108.

The use of a Federal Bank FD calculator, comes with several advantages, such as:

• Saves Time

With the Federal Bank FD calculator, users can estimate the maturity value of their FD simply and quickly without going through the tedious process of manually using a formula.

• Track Progress

As you get a clear and direct result of your investment, you can easily predict your returns and plan for the future.

• Helps with Better Decision Making

You can compare various fixed deposit rates that banks and NBFCs offer using this calculator and further decide which investment scheme suits your goals best.

With a high level of income predictability, investing in Federal Bank FD is one of the best options if you want guaranteed returns at maturity. Moreover, using a Federal Bank FD calculator will enable you to compare maturity amounts against varied investment amounts, allowing you to optimize your investment decisions.