hdfc fixed deposit rates calculator in india

1500/- is deposited in a bank for 6 years and paying an annual interest rate of 4.3%, compounded quarterly.Ī. for monthlyĬompounding n will be 12, for half year compounding it will be 2 and forĮxample: Let us assume that an amount of Rs. N = number of times the interest is compounded per year (i.e. Paid at 5.5% pa, then it will be 0.055) (it should not be in percentage) R = Annual nominal interest rate (as a decimal i.e.

The following formula gives you the total amount one will get if compounding is done:. This addition of interest to the principal is called compounding. We have below also explained the formula or the method that can be used to calculate compound interest on any given amount.Ĭompound Interest Formula / How to calculate compound interest / Compounding of Interest on Fixed Deposits Explained :Ĭompound interest arises when interest is added to the principal so that from that moment on, the interest that has been added also itself earns interest. However, in case you wish to calculate compounding on other basis say monthly, half yearly or annual basis, then use our other calculator, then click on the link : View Another Fixed Deposit Calculator - With Compounding of Interest on Monthly, Quarterly, Half Yearly or Yearly basis. In India, banks use quarterly compound interest calculator in rupees. However, they use the same FD formula for arriving at maturity value of fixed deposits ). In India, most of the banks do the compounding on quarterly basis and thus this Fixed Deposit Calculator can be used to know the maturity value of your fixed income deposits / securities when the compounding is done on quarterly basis.įixed Deposit schemes are offered by all banks in india (FD schemes of SBI, PNB, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Bank of Baroda, Corporation Bank are available at respective websites. It depends on the rate of interest and the frequency of compounding. Effective yield is the actual return on your Fixed Deposit.

This Fixed Deposit Calculator (FD Calculator) gives you the return on the Principal when interest is paid on quarterly compounding.

Hdfc fixed deposit rates calculator in india