Gruh Finance FD Calculator

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Gruh Finance FD calculator

Fixed deposits are safe investment options that offer stable returns as compared to other investment options. You can also get tax deduction option u/s 80C for investing in tax-saving fixed deposits.

Gruh Finance FD can be a viable option if you are planning to invest in fixed deposits. However, Gruh Finance merged with Bandhan Bank in 2019. So, all FD rates of Bandhan Bank will now be applicable to Gruh Finance FDs. Before investing in FD, you can use an online FD calculator to determine the accrued interest and maturity amount.

Here’s more about Gruh Finance FD and the online FD calculator.

Gruh Finance Fixed Deposit (FD) Calculator

Gruh Finance FD interest rate ranges from 3% to 7.50% for investment amount that is less than ₹2 crore for the general public. However, senior citizens are eligible for additional interest rates. The interest rate for senior citizen depositors for the same deposit amount stands between 3.75% and 8%. The FDs have a tenure that starts from 7 days and can range up to 10 years.

However, the FD interest rate will vary on your chosen tenure and deposit amount. If you assess the maturity amount and interest on an FD, it can assist you with financial planning. But calculating Gruh Finance FD returns through manual calculation can be prone to errors. Moreover, it can be quite hectic.

Instead, you can use an online Gruh Finance FD calculator. You have to put in some necessary investment details and the tool will accurately calculate the returns in a few seconds.

How Does Gruh Finance FD Calculator Work?

There are two types of fixed deposits based on the type of interest: Simple interest FD and compound interest FDs.

In case the fixed deposit accrues compound interest, the following formula will be used to determine the maturity amount:

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

Here,

A is the maturity amount that you’d receive when the FD matures

P is the amount that you invested

r is the applicable rate of interest

n is the frequency of compounding of interest. If interest is compounded quarterly then value of n would be 4 and it would be 1 if compounded annually.

t is the tenure of the Gruh Finance FD

For a better understanding let’s take the following example:

Suppose Mr. Sharma deposited ₹40,000 in an FD with an interest rate of 6% for 5 years that is compounded annually. So, here, P is ₹40,000, n is 1, t is 5 and r is 6.

By the formula, maturity amount after 5 years would be: 40,000 (1+6/1) ^1 x 5

The maturity would be ₹53,874 and the accrued interest would be ₹13,874.

However, for simple interest FDs, the formula used to calculate interest amount and maturity is

M= P+ (PXRXT/100)

Where, M is FD maturity amount, P is deposited amount, R is rate of interest and T is tenure of the FD.

But, manually calculating FD returns using these formulas can lead to errors. You can use an online Gruh Finance FD calculator using the following easy steps:

1. Provide the FD investment amount in the “Total Investment” field
2. Now, input the FD tenure in the field below. You can either enter the tenure manually or you may drag the cursor till the preferred tenure is reached
3. After this, provide the Gruh Finance FD interest rate
4. The calculator will now display the “Total Value” and the “Estimated Return” for your investment on the right side of the page.

Total value stands for the maturity amount while estimated return stands for accrued interest.

Top Benefits of Online Gruh Finance FD Calculator

Online FD calculators are highly beneficial for fixed deposit investors. Here are some of the major advantages offered by these tools:

• Online FD calculators are totally automated. So, there are no chances of error in calculation. Simply enter all necessary inputs in respective fields and the tool will churn out accurate results in an instant.
• You can adjust the figures as many times as you wish. Depending on the inputs the tool will provide the results accordingly. This will help you to choose an FD scheme that would be suitable for your financial goals.
• Another major advantage of this tool is that it is completely free. You can use it from the comfort of your home. You would need a smart device and a stable internet connection.
• This tool does not require you to register or sign up and you do not have to input any personal details.

If you have been planning to invest in Gruh Finance FD, you can use the online Upstox FD calculator. This tool comes with a convenient user interface and you can easily determine your FD returns within seconds. Assess the FD return details, fill up the Gruh Finance FD form and start investing.