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.
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
