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    CHAITHANYAVR645's Avatar
    CHAITHANYAVR645 Posts: 1, Reputation: 1
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    #1

    Aug 23, 2016, 10:29 PM
    How to calculate interest on fixed deposit?
    I have invested in non-cumulative fixed deposit for 3 years, now I am looking for some means which can provide me the total earned interest at the end of tenure.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Aug 24, 2016, 07:11 AM
    My understanding is that a "non-cumulative fixed deposit" is an investment that pays simple interest on the amount deposited, payable to you as the interest is earned. In other words your investment amount stays constant throughout the tenure of the account (there is no compounding). The amount of interest you will earn over three years is simply the amount you deposited times the annual interest rate percentage times 3 (for 3 years).
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