DHFL (Dewan Housing Finance Corporation Limited) fixed deposit (FD) calculator is an incredibly useful online tool that can help you both plan your investments and calculate your returns from FDs available Prediction of the DHFL. FDs are a popular investment preference, offering certain returns with minimum threat. However, manually calculating the income can be difficult, specifically if you want to examine it across special tenures and investment amounts. This is where the FD calculator comes in place – it simplifies the process and provides the correct numbers in just a few clicks.

How does a DHFL FD Calculator Work? 

The workings of an FD calculator are pretty simple. You must enter key factors, such as the investment amount, term (in months/years), and interest rate. The tool then uses these inputs and the relevant method to figure the maturity amount, the sum of your original investment (capital) and the interest collected over the chosen term. Most FD tools, including the one given by DHFL, figure profits based on compound interest. Compound interest is determined on the capital plus the collected interest from previous periods. This is why compound interest results in better average gains than simple interest over longer tenures.

Formula to Determine DHFL FD Returns

The formula used by the DHFL FD calculator is for compound interest:

Maturity Amount = Principal * (1 + Rate/100)^Tenor

Where:

Principal = Initial investment amount

Rate = Annual interest rate

Tenor = Deposit tenure in years

Example for DHFL FD Returns:  

Let's say you want to invest Rs. 4,00,000 in a DHFL Fixed Deposit for 3 years at an interest rate of 7.5% per annum.

Using the formula:

Maturity Amount = Principal * (1 + Rate/100)^Tenor

Substituting the values:

Maturity Amount = 4,00,000 * (1 + 7.5/100)^3

= 4,00,000 * (1.075)^3

= Rs. 4,99,080

Therefore, if you invest Rs. 4,00,000 in a 3-year DHFL FD at 7.5% interest rate, the maturity amount you will receive at the end of the tenure is Rs. 4,99,080.

The interest earned can be calculated as:

Interest Earned = Maturity Amount - Principal

= Rs. 4,99,080 - Rs. 4,00,000

= Rs. 99,080

So, by investing Rs. 4 lakh for 3 years in a DHFL FD at 7.5% per annum, you will earn Rs. 93,080 as interest, and the total maturity proceeds will be Rs. 4,99,080.

Benefits of the DHFL FD Calculator 

The key perks of using the DHFL FD tool include: 

• Enjoy convenience and ease of use from any location.
• Obtain accurate estimates, eliminating handwritten mistakes.
• Assess results across various financial amounts and tenures effortlessly.
• Enhance financial planning and goal-setting capabilities.
• Gain transparency with instantly fetched latest DHFL FD rates.
• Save time compared to manual estimates.

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