A fixed deposit is one in which
once the money is deposited, it cannot be withdrawn till its maturity. Fixed
deposits unlike savings account pay high rates of interest. The longer the
maturity period the more interest you earn, which again can be easily
calculated by this valuable fixed deposit calculator. But if the fixed deposit amount is withdrawn or
cancelled before the maturity period expires, a penalty is charged from the
defaulter.
The fixed deposit calculator helps assess the interest calculations and
the maturity amount to be received on a fixed deposit figure. The calculator is very handy and easy
to use, just requires to input the following details namely – the principal
amount, rate of interest, lock-in-period and the compounding rate and the final
amount & interest gets calculated for you.
Summary: Fixed deposit
calculator is a very useful online tool. It helps in evaluating the compound
interest and the total deposit amount receivable after a fixed time period.
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