## Post Office FD Calculator

The post office FD is one of the oldest forms of investment that have been offered by the Indian Postal Services. Many people prefer to use a post office FD calculator and invest in the post office FD because it provides them a sense of safety as it is backed by the government. This FD is similar to that provided by a bank where you deposit money for a fixed tenure and gain returns on them.

## Post Office Fixed Deposit Calculator

A post office fixed deposit calculator is a great tool that helps you calculate how much your maturity amount would be based on a few input factors. First, you will be asked to enter the amount of investment you can invest in the fixed deposit. Then, based on your choice, choose how frequently you would want your principal amount to be compounded. You will be given the option to compound your principal amount monthly, quarterly, half-yearly, and annually.

Next, based on your financial health, you will have to decide the period of time in which you would be flexible to continue investing. You can choose a time period from the 4 tenures available: 1 year, 2 years, 3 years, and 5 years. The FD calculator finally allows you to choose FD interest rate and calculate the sum you will receive at maturity. Such online post office FD calculators literally save a lot of hours of manual computation with no room for human error.

## How to Calculate Interest on the calculator

Calculating the interest through the Post Office Fixed Deposit Calculator is very simple. You will only have to use the formula given below. This formula helps you calculate the compound interest rate.

Maturity Value = Principal * (1+ Interest Rate/4)^(n*4)

Here, principal is the amount you are willing to invest and n is the number of year you plan to invest for. You can plug in how much you want to gain as your maturity value along with the principal amount you can afford to invest over n years.

## Benefits of using a Post FD Calculator

With the India post FD calculator, you will be able to gain deep insight on how much you have to invest to gain the wealth you desire. Here are some key benefits of using the postal FD calculator:

### 1. No errors

As this is an automated calculator, there is no scope for any errors to be made.

### 2. Free of cost

The post office FD calculator helps you calculate the maturity amount for free without having to pay a penny.

### 3. Flexible inputs

You can compare your maturity amount for different amounts of principal, interest rates, and number of years to make a decision that suits you best.

## Post Office FD vs Bajaj Finance FD

Here are some prime differences between a post office FD and a Bajaj Finance FD.

### 1. Flexibility

With a post office FD, you can withdraw your principal amount along with the interest before the completion of your tenure only after 6 months. Whereas, a Bajaj Finance FD offers more flexible terms when it comes to premature withdrawal.

### 2. Interest rate

The post office FD offers a maximum interest rate of 5.7% whereas a Bajaj Finance FD offers higher interest rates up to 7.25%.

### 3. Easy accessibility

A post office FD usually requires paperwork and does not typically offer online support. When it comes to a Bajaj Finance FD, there are several online features offered and you also have the option of getting your documents picked from your doorstep.

## FAQs

• ### ✔️Is there a minimum investment to be made to start a post office FD using a post office fixed deposit calculator?

Yes, you will need to make a minimum investment of Rs. 200.

• ### ✔️Can I withdraw my deposit made after using a postal FD calculator before the maturity period?

Yes, after the completion of 6 months, you can withdraw your principal amount along with the interest before the end of your tenure.

• ### ✔️Will my post FD calculator derived deposit earnings from a post office FD be taxable?

Yes, the income you earn from the interest is taxable.

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