# Post Office FD Calculator 2023

The Post Office FD calculator is a convenient and dependable tool for calculating the maturity amount of your time deposit. The Post Office Time Deposit is a fixed deposit scheme offered by India Post. Under this scheme, an individual can invest a lump sum amount for a fixed period, ranging from 1 year to 5 years, and earn a fixed rate of interest on the deposit. The interest rate, currently between 6.8% to 7.5%, is revised by the Government on a quarterly basis, and the interest earned on the deposit is taxable.

The calculator is user-friendly and straightforward; all you need to do is  . In just a matter of seconds, you can view your FD returns and the total amount you will receive upon maturity.

Total Investment

Rate of Interest (P.a)

%

Time Period (Years)

Invested Amount

0

Est. Returns

Total Value

## How to Use the Post Office Fixed Deposit Calculator?

The Post Office interest FD calculator is a user-friendly online tool that helps you calculate the maturity amount of your FD. Follow these 3 simple steps below to use the FD calculator:
Once done, you will be able to check the estimated FD interest along with the maturity amount.

## Post Office FD Interest and Maturity Amount Calculation Formula

Post Office FD interest rate and maturity amount can be calculated via two methods – the simple interest method and the compound interest method.

The interest and maturity amount of an FD depends on the principal amount, interest rate, and tenure. There are two methods for calculating the interest and maturity amount:

1. Simple interest
2. Compound interest

For simple interest:

Maturity Amount = P(1 + (RT/100))

Interest Earned = (PR*T)/100

Here, P is the principal amount, R is the interest rate, and T is the tenure.

For Compound Interest:

Maturity Amount = P * (1 + r/n)^(n*t)

Interest = Maturity Amount – Principal Amount

Where,

P = Principal Amount

r = Interest Rate

n = Number of times the interest is compounded per year

t = Tenure in years

Let’s understand both with an example:

Suppose you invest ₹50,000 in a Post Office FD for a tenure of 3 years with a simple interest rate of 7%. In this case, using the simple interest formula, your maturity amount would be:

Maturity Amount = P(1 + (RT/100))

= 50,000(1 + (7*3)/100)

= ₹60,500

The interest earned on this FD investment would be:

Interest Earned = (PRT)/100

= (50,0007*3)/100

= ₹10,500

Now, let’s consider another scenario where you invest the same amount of ₹50,000 in a Post Office FD for a tenure of 3 years with a compound interest rate of 7%.

In this case, the interest rate of 7% will be compounded annually, so n = 1. Therefore, the formula for calculating the maturity amount would be:

Maturity Amount = P * (1 + r/n)^(nt)

= 50,000 * (1 + 0.07/1)^(1*3)

= ₹61,252

The interest earned on this FD investment would be:

Interest = Maturity Amount – Principal Amount

= 61,252 – 50,000

= ₹11,252

## Benefits of Using Post Office Fixed Deposit Interest Calculator

Maximize your investment potential with Post Office’s interest rate Calculator and experience the following benefits:

### Precise results

With the FD calculator, you can obtain accurate calculations of your maturity amount and interest earned, without the possibility of manual errors.

### Save time

Calculating your maturity amount manually can take up valuable time. However, with the FD calculator, you can get fast and effortless results with just a few clicks, saving you time.

### Compare schemes with ease

The FD calculator enables easy comparison of different FD schemes with varying tenures and interest rates, helping you make an informed decision about which scheme aligns with your financial goals and requirements.

The minimum deposit amount for Post Office FD is ₹1,000. The tenures available are 1, 2, 3, and 5 years.

Using the formula for compound interest:

Maturity Amount = P * (1 + r/n)^(n*t)

Where:

P = Principal amount (₹1 lakh in this case)

r = Rate of interest per annum (7.5% in this case)

n = Number of times the interest is compounded per year (annually in this case)

t = Time period of the deposit (5 years in this case)

Maturity Amount = 100000 * (1 + 0.075/1)^(1*5) = ₹1,43,562

The interest rate for Post Office FD is subject to change and is currently 6.8% for 1-year tenure and 7.5% for 5-year tenure.
Post office FD accounts can be opened online by visiting the official India Post website, or by visiting your nearest post office after submitting the required documents.
Yes, premature withdrawal is not allowed in the first 6 months of post office FD account opening. After six months, premature withdrawal is allowed subject to penalties as per the government’s regulations.
Disclaimer : Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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### What is Post Office Fixed Deposit Interest Rate in 2023?

Post Office FD interest rate ranges from 6.80% to 7.50% for the quarter April 1, 2023 to June 30, 2023. The applicable interest rate varies depending on the tenure you choose. Here are some of the highlights of Post Office FD interest rate:

• Interest Rate: 6.80% to 7.50%
• Tenure: 1 year to 5 years
• Minimum Deposit: ₹1000 and in multiples of ₹100
• Maximum Deposit: No Upper Limit
• Lock-in Period: 1 to 5 years

### Ways to Calculate Post Office Fixed Deposit Interest and Maturity Amount

There are two ways to calculate Post Office FD interest and maturity amount –

1. Simple interest method
2. Compound interest method

The formula for Post Office FD calculation via simple interest method is:

Interest Earned = (PRT)/100

Maturity Amount = P + Interest Earned

Where, P = Principal amount invested, R = Rate of interest (%) and T = Tenure

For example, if someone invests ₹10,000 for 2 years at a rate of interest of 6.9% per annum.

So, plugging in the values, we get:

Interest earned = (10,000 * 6.9 * 2)/100

Interest earned = 1,380

Maturity amount = 10,000 + 1,380

Maturity amount = 11,380

Therefore, on an investment of ₹10,000 for 2 years at a rate of interest of 6.9% per annum, the investor will earn an interest of ₹1,380, and the maturity amount will be ₹11,380.

The formula for Post Office FD calculation via compound interest method is:

Maturity Amount = P * (1 + r/n)^(n*t)

Interest = Maturity Amount – Principal Amount

Where,

P = Principal amount

r = Interest rate

t = Tenure in years

For example, if someone invests ₹10,000 for 5 years at a rate of interest of 7.55% per annum.

So, plugging in the values, we get:

Maturity Amount = 10,000 * (1 + 0.075/1)^(1*5)

Maturity Amount = ₹14,389

Now, to calculate the interest earned:

Interest = Maturity Amount – Principal Amount

Interest = 14,389 – 10,000

Interest = ₹4,389

Therefore, on an investment of ₹10,000 for 5 years at a rate of interest of 7.50% per annum, the investor will earn an interest of ₹4,389, and the maturity amount will be ₹14,389

• Seamless user experience : Calculating fixed deposit interest rates with the Post Office calculator is effortless, thanks to its intuitive design. The tool enables you to enter the required information and calculate your maturity and return amounts in seconds, without any difficulty.
• Accuracy: The calculator offers swift and precise results, leaving no room for human error. By keying in the investment amount, tenure, and interest rate, you can instantly obtain near accurate estimates.
• Financial planning : The Post Office FD calculator can help you make informed investment decisions by allowing you to select the tenure, investment amount, and applicable interest rate. With this information, you can determine the amount or tenure that aligns with your financial goals and plan your investments accordingly.

### Factors that Affect Post Office Fixed Deposit Maturity Amount Calculation

Factors that Affect Post Office Fixed Deposit Maturity Amount Calculation
• Interest rate variation:The Post Office FD interest rate varies based on the chosen scheme and tenure.
• Tenure selection: The maturity amount can be affected by the investment period or tenure. If you invest for longer periods, your maturity value will be higher.
• Government bonds: The Post Office FD rates are also influenced by the prevailing yields on government bonds. If the yield on government bonds is low, the Government can increase the applicable Post Office FD interest rates.
• Investment amount: The principal amount invested can also impact the maturity amount. Lower investment amounts will result in lower maturity amounts, so it is essential to consider your investment objectives and goals when deciding on the amount to invest.
Make informed decisions about your FD investment returns by using our user-friendly Post Office FD calculator, which provides quick and precise results. With this tool, you can calculate your FD returns accurately and promptly, allowing you to make informed decisions regarding your investment. 