An online fixed deposit calculator is a tool that helps you calculate the interest earned and maturity value of your fixed deposit investment. To use an online fixed deposit calculator, you will typically need to input the following information:
Principal Amount: This is the amount that you wish to invest in the fixed deposit.
Rate of Interest: This is the interest rate offered by the bank or financial institution on the fixed deposit.
Tenure: This is the duration for which you wish to invest in the fixed deposit. It is usually measured in months or years.
Compounding Frequency: This is the frequency at which the interest is compounded. It could be monthly, quarterly, half-yearly, or annually.
Once you input these details into the calculator, it will calculate the interest earned and maturity value of your fixed deposit investment. Some calculators may also allow you to input additional details such as the tax rate, to give you a more accurate estimate of the returns on your investment.
