Home Java Java Banking Project: Accurate FD Rate Calculation Tutorial

# Java Banking Project: Accurate FD Rate Calculation Tutorial

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## Introduction to FD Rate Calculation

In any banking project, accurately calculating Fixed Deposit (FD) rates is crucial for both developers and end-users. This tutorial will guide you through implementing a precise FD rate calculation feature using Java Swing Application Developement. By the end of this article, you will have a functional component that handles FD computations efficiently.

Inorder to calculate the FD Rates follow the below conditions

FD Rate must be grater than 100,000.
below 100,000 no interest rates included.

if the FD Rate more than 100,000 include
following condition

1. if the FD Rate more than 100,000
include 4.75 interest rate

2. if the FD Rate more than 500,000
include 6.75 interest rate

3. if the FD Rate more than 1000,000
include 8 interest rate

Full Source of the Project for calculation the Total

```double fdrate,interestrate,totalamount;

private void jButton1ActionPerformed(java.awt.event.ActionEvent evt) {

fdrate = Double.parseDouble(txtAmount.getText());
interestrate =0;

if(fdrate <= 100000)
{
JOptionPane.showMessageDialog(this, "FD Rate Cannot be below 100,000");
}
else
{
if(fdrate >= 100000 && fdrate < 500000)
{
interestrate = fdrate * 4.75/100;
}
else if(fdrate >= 500000 && fdrate < 1000000)
{
interestrate = fdrate * 6.75/100;
}
else
{
interestrate = fdrate * 8/100;
}

}

lblinterest.setText(String.valueOf(interestrate));
totalamount = fdrate + interestrate;
lbltotal.setText(String.valueOf(totalamount));

}```

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