- Enter any amount to see how much your investment may yield*
- Our calculators are just intended to be a guide. Actual payment may vary based on the financial institution you choose, as well as the number of days in a month and interest rates at the time of investing.*
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The formular for Fixed Deposit Interest Calculator
A = P(1 + rt).
- A = Total Accrued Amount (principal + interest)
- P = Principal Amount
- I = Interest Amount
- r = Rate of Interest per year in decimal
- t = Time Period
What is a Fixed Deposit
Do you intend to keep your money in a savings account for a period of time? A fixed deposit account is a wise investment to consider.
A fixed deposit is a financial product issued by banks or non-bank financial institutions that pays investors a greater interest rate than a regular savings account until the maturity date.
At the conclusion of the agreed-upon defined time (term), the main investment is withdrawn. Interest may be removed at any time, whether monthly, quarterly, biannually, or yearly. Non-withdrawn interest is capitalised on a monthly or annual basis, depending on the policy of the financial institution.
Consider how long you want to invest your money and the interest rate range you desire when creating a fixed deposit account. The length and amount of investment in a fixed deposit account have the biggest effect on fixed deposit interest rates.
You may be interested to read our article on the Best Fixed Deposits Rates in South Africa