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What is FD?

FD or Fixed Deposits, is a way to save money for a long time. It's like putting your money in a bank for a fixed period that you choose. FDs are good for people who want to build wealth over a long time because they give more interest than regular savings accounts.

What is an FD calculator?

An FD calculator is a simple tool that assists customers in figuring out how much interest they could earn on their deposit. It considers the amount of money, how long it will be deposited, and the current interest rate. This tool helps people calculate the returns they might get on their investments.

How is FD interest calculated?

To figure out the interest on Fixed Deposits (FD), most banks use a formula that involves compounding interest every quarter.

Here's the formula: A = P * (1 + r/n) ^ (n*t),

Where, 

• A = the total amount at the end,
• P = the initial amount you put in,
• r = the interest rate,
• t = the number of years, and
• n = how often the interest is added up.

How to Use the Suvit FD Calculator

Step 1: Specify your desired deposit amount by entering manually or sliding the bar.

Step 2: Slide the interest rate bar.

Step 3: Choose your preferred FD term (length).

Step 4: Specify your compounding period from the available options.

Step 5: Instantly view your estimated maturity amount.

Why Use Suvit's FD Calculator?

1. Savings: Suvit's FD Calculator helps you adjust plans and investments effectively by providing insights into potential FD returns.

2. Goal-oriented Finance: Determine the ideal FD term and amount to meet specific financial objectives with Suvit's FD Calculator.

3. Simple & Transparent: Suvit's FD Calculator is user-friendly and clear, offering an easy understanding of your FD potential.

4. Flexible for Everyone: Whether saving for short-term needs or long-term goals, Suvit's FD Calculator caters to diverse financial needs.

Don't let financial uncertainty hold you back. Take control of your future with the Suvit FD Calculator. Gain clarity on your FD growth potential and make informed choices for a secure tomorrow.