Your Bank currently provides Interest Rate. At this rate, it will take approximately years (Before Taxes).
- Interest Tax of 6% is applied as per regulations on the total interest earned.
- FD Calculator for Information Purpose Only.
- Consult with your Bank for an accurate rate before Investment.
How to Use Interest Rate Calculation?
- Enter Values:
- Fill in the “Amount,” “Interest Rate (%),” and “Time (in years)” fields with the desired values for your fixed deposit.
- You can also use the sliders to adjust the values for “Amount,” “Interest Rate,” and “Time” by dragging the slider knob.
- FD Interest Rate Calculate:
- After entering the values, click the “Calculate” button to estimate the returns on your fixed deposit.
- The result will show the “Estimate Annual Interest,” “Tax Deductible,” and “Total Receivable Amount.”
- To start over or clear the values, click the “Reset” button.
- The app will reset the fields and sliders to default values (Amount: 10000, Interest Rate: 10, Time: 1) and clear the results.
FAQs on FD Calculator
What is the FD Calculator used for?
The FD Calculator is used to estimate the returns on a Fixed Deposit (FD) investment based on the provided “Amount,” “Interest Rate,” and “Time.”
How is the interest calculated in the FD Calculator?
The app calculates the interest earned using the formula: Interest Earned = (Amount * Interest Rate * Time) / 100.
Deducting 6% TDS on interest earned as per Nepal’s rule.
What is the “Interest Tax” mentioned in the results?
The “Interest Tax” is the tax applied at a rate of 6% on the total interest earned, as per regulations.
Are the results accurate?
The results provided by the FD Calculator are estimates and may not reflect actual returns due to varying factors such as compounding, tax deductions, and other charges.
Can I use the FD Calculator to make real investment decisions?
The FD Calculator is for informational purposes only and should not be solely relied upon for making investment decisions. Consult with your bank or financial advisor for accurate rates and advice.
How accurate are the “Years to Double” results?
The “Years to Double” results are approximate and based on the Rule of 72, which is a simplified rule for estimating the time it takes to double an investment.
Formula= 72/Annual Interest rate