What is Fixed Deposit?

Fixed Deposit (FD) is a financial instrument offered by banks and other financial institutions that allows you to invest a lump sum amount for a fixed period at a fixed interest rate

It is a popular investment option, especially in countries like India, due to its safety and guaranteed returns.

Benefits of a Fixed Deposit:

Safety:FDs are considered a low-risk investment as they are not affected by market fluctuations.

Guaranteed Returns: –Since the interest rate is fixed, you know in advance how much you will earn from the deposit.

Tax Savings:- Some banks offer tax-saving FDs with a lock-in period of 5 years, which can be used to claim deductions under Section 80C of the Income Tax Act (India).

What is SBI Fixed Deposit Monthly Interest Calculator?

A Fixed Deposit (FD) monthly interest calculator helps you determine the interest earnings from an FD investment when the interest is paid out monthly.

It allows you to input the principal amount, interest rate, and tenure, and calculates the monthly interest payout.