INTEREST ON FIXED DEPOSIT CALCULATOR

As the name suggests it's an investment in which one has get the fixed amount of interest on its deposit.It's the investment for very less risky person who wants their money in very safe hands.The fixed deposit is made by almost every bank & it's the really a safe investment from other means of investment like equities,debentures,mutual fund etc.But one has to know that it's also has very fixed amount of interest like in India the interest rate is as follows

MAXIMUM RATE OF INTEREST IS FOR 1 YEAR DEPOSIT:
SIMPLE PERSON--------10.5 %
SENIOR CITIZEN --------11%

The interest on fixed deposit is calculated on compund interest rate means the one who invest in fixed deposit will get interest on interst after a specific time on investment. In india generally the specific time is quaterly basis.like one has invested 1000 rs. on 12% interest. if the specific time is 1 month he will get first month interest 10 rs. & the second month the principle amount would be 1010 & the interest would be 10.10.
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About Nitin Aggarwal

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