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What Is Equitas Bank FD Calculator?
The Equitas Small Finance Bank FD calculator is an online tool that assists investors in calculating the returns on their Equitas Small Finance Bank fixed deposit investments. This user-friendly calculator requires only a few inputs, such as the deposit amount, tenure, and the bank's interest rate.
Using these details, the calculator can calculate the total interest earned, the maturity amount, and the compounded interest earned on the principal. This information can assist investors in making informed decisions about their investments and comparing different investment options available to them.
The online Equitas Small Finance Bank FD calculator can be found on Angel One’s website and is available to both new and existing customers. The tool is free and provides accurate calculations based on the bank's current interest rates. Overall, the Equitas Small Finance FD calculator is an excellent resource for investors looking to make informed investment decisions and plan their finances.
How Does the Online Equitas Small Finance Bank FD Calculator Work?
A calculator for fixed deposits employs the compound interest formula. It employs variables such as the principal amount, duration, and interest rate. The calculator calculates the maturity amount and interest earned on the FD based on these inputs. It assists investors in estimating their returns and making an informed investment decision.
When calculating the total amount of interest earned, the formula considers the principal amount, the interest rate, and the length of time since the FD was opened.
Here’s the Equitas Small Finance Bank FD calculator formula:
Maturity amount = P(1+r/n)^nt
Where,
- p = principal amount
- r = rate of interest
- n = frequency of compounding
- t = tenure
How To Use the Equitas Small Finance Bank FD Calculator Online?
The online Equitas Small Finance Bank calculator is easy and quick to use. You can use the online tool by following these steps:
- Enter the principal amount that you want to invest in the FD.
- Choose the expected interest rate on the fixed deposit.
- Next, select the duration or tenure of the FD.
Let's look at an example to understand the aforementioned steps better. Assume you want to invest Rs. 80,000 in a 5-year fixed deposit at 6.5% p.a. Using the online FD calculator, calculate the interest and maturity proceeds as follows:
- Enter Rs. 80,000 in the principal field of the tool
- Key in the interest rate as 6.5% p.a.
- Enter 5 years as the tenure
- Accurate calculations: The Equitas Small Finance Bank FD Calculator makes accurate calculations of the interest earned on a fixed deposit based on the amount invested, tenure, and interest rate.
- Helps with financial planning: The calculator can help plan finances better by showing how much interest you will earn and how much your investment will be worth when it matures. This can help make smart choices about how to invest.
- Saves time and effort: The Equitas Small Finance Bank FD Calculator saves time and effort that would have been spent manually calculating interest rates. This makes it easier for customers to figure out which FD option is best for them.
- Customisable: The variables of the calculator can be changed so that users can put in different amounts, tenure, and interest rates to find the best way to invest for them.
- Free to use: The online Equitas Small Finance Bank FD Calculator is easy to find online and is free to use. This makes it a great tool for anyone who wants to invest in fixed deposits with the bank.
Equitas Small Finance Bank FD Calculator FAQs
What is the Equitas Small Finance Bank FD Calculator?
Equitas Small Finance Bank FD Calculator is an online tool that assists customers in calculating potential returns on fixed deposits. It estimates the interest earned by taking into account the deposit amount, tenure, and interest rate.
How to use the Equitas Small Finance Bank FD Calculator online?
Visit the Angel One website and navigate to the online Equitas Small Finance Bank FD calculator to use it online. Then, enter variables such as the deposit, tenure, and interest rate that apply to the FD. Following that, the calculator calculates the interest and maturity amount you can earn at the end of the tenure.
Is the Equitas Small Finance Bank FD Calculator free to use?
Yes, you can use the Equitas Small Finance Bank FD Calculator for free. It is available on the Angel One website and can be used by anyone to calculate potential fixed deposit earnings.
The fixed deposit interest is calculated by finding the maturity amount and then subtracting the principal amount from the former. The difference is the interest earned.
Equitas Small Finance Bank offers fixed deposit interest rates depends on the tenure and principal amount.
