Use this calculator to determine the worth of your investment after some years if you earned a fixed rate of return on it.
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Compound interest is the concept of adding accumulated interest back to the principal, so that interest is earned on interest from that moment on. The act of declaring interest to be principal is called compounding (i.e. interest is compounded). A loan, for example, may have its interest compounded every month: in this case, a loan with Rs. 100 principal and 1% interest per month would have a balance of Rs. 101 at the end of the first month.
The effect of compounding depends on the frequency with which interest is compounded and the periodic interest rate which is applied. Therefore, in order to define accurately the amount to be paid under a legal contract with interest, the frequency of compounding (yearly, half-yearly, quarterly, monthly, daily, etc.) and the interest rate must be specified. Since most people prefer to think of rates as a yearly percentage, most financial institutions disclose a (notionally) comparable yearly interest rate on deposits or advances. Compound interest may be contrasted with simple interest, where interest is not added to the principal (there is no compounding).
Fixed Deposit Interest Calculator helps you find how much FD compound interest you will earn for a duration. Compare FD Rates using FD calculator created by Loanwalle.