Interest and maturity amount of a fixed deposit at the rate the bank offers you, compounded or paid out.
How the interest is worked out
Maturity = P × (1 + R ÷ c)^(number of compounding periods)
R is the yearly rate as a decimal and c the number of compounding periods a year. Months left over after the last full period earn simple interest. If interest is paid out every month or quarter, each payout is P × R ÷ payouts a year and the deposit itself is returned at maturity.
Banks differ in how they compound, count days and pay monthly interest (some pay a discounted monthly amount). Use the rate and terms of your bank's offer; the result is not a bank's offer. Tax on interest is not included.
This is an illustration from the rate you assume. It is not an offer, a forecast or investment advice, and it does not promise any return. The bank, post office or fund's own terms decide the actual amount.
