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Thursday, July 11, 2013

FD Interest Calculator

Mr. Joshi was worried as his bank had recently switched its banking software to Flexcube from Finacle and during the transition phase staff at the local branch expressed their inability to issue an interest certificate for all of his fixed deposits.
Mr. Joshi was a wise investor and in order to avoid the deduction of TDS on FDs followed by the hassles of tax refund, he had made many small FDs in different branches of the bank using internet banking.
As the last date for filing the Income Tax return was nearing, he started to search for FD Interest Calculators on the net. 
But those calculators needed to be feed the period of deposit in days or months and calculating the same was not an easy task at all.
Mr. Joshi wanted a calculator seeking Start Sate and Maturity Date (instead of period of deposit) only.

To cater the need of people like Mr. Joshi, I came with a simple excel calculator with different compounding options.This calculator can be downloaded here.

Don't want the hassles of downloading? Check for the Online calculator.


Anonymous said...

great stuff it is !

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