An online term deposit interest rate Calculator to calculate the interest earned and the total investment amount. A term deposit is a bank deposit for a specified term period, which earns a certain interest amount based on the interest rate. The funds in the term deposits must be held for a fixed term and in some deposits, the depositor can make withdrawal by giving a prior notice. Term deposit calculator calculates the amount in various currencies such as Dollar, Rupees, Euro and so on.
A person deposited an amount of Rs 5000 at an interest rate of 8% for a term period of 12 months.
Interest Earned = Amount x Interest Rate / 100 x Term
= (5000/100) x (8/12) x 12
= Rs. 400
Total New Investment Amount = Interest Earned + Amount
= 400 + 5000
= Rs. 5400