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FDR interest calculation


Divya Garg   21 June 2017

Divya Garg

 8 points

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how should one calculate the interest on FDR?

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CA Saloni (Deputy Manager-Accounts & GST Consultant)     21 June 2017

CA Saloni
Deputy Manager-Accounts & GST Consultant 
 421 likes  5006 points

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When you receive the FDR, the maturity value is mentioned on it. Deduct the investment amount from maturity amount and you will get the interest.

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zama (student)     21 June 2017

zama
student 
 4 likes  52 points

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Formula of Compound interest I. E PRN/100
Principal, Rate of interest, & No of years
Note that in some cases interest is compounded Quarterly, Half yearly or yearly

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Divya Garg   21 June 2017

Divya Garg

 8 points

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what if the FDR is made in the month of September? After deducting the investment amount from maturity value i will get the interest for full period. but for the computation of income i need interest for 6 months only (oct-march).

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CA Saloni (Deputy Manager-Accounts & GST Consultant)     21 June 2017

CA Saloni
Deputy Manager-Accounts & GST Consultant 
 421 likes  5006 points

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Dear divide it by number of months for the total period and multiply by the required period.


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