Navi Calculator 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)
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Time Period (Years)
Invested Amount
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Est. Returns
Total Value
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:
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
With the FD calculator, you can obtain accurate calculations of your maturity amount and interest earned, without the possibility of manual errors.
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.
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
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
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:
There are two ways to calculate Post Office FD interest and maturity amount –
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