The future value of investment will be
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Invested Amount
Estimated Return
Fixed deposits (FDs) offer a higher return than savings deposits but may come with lock-in periods or exit loads. Since the rate of interest given is fixed, you can calculate the returns or the maturity amount beforehand. To do so, one could manually do the calculation or use the ICICI FD Calculator available on the Angel One website.
The ICICI FD calculator is a free, online tool used to calculate the returns from ICICI fixed deposits and the maturity amount for a predetermined principal amount, interest rate and duration.
The ICICI FD Calculator uses the compound interest method to calculate the maturity amount. Just enter the following variables -
Once you enter these values, the calculator automatically uses them as inputs in the compound interest formula and shows the exact figure of the future value of the investment and the estimated return.
The following is the ICICI FD calculator formula for calculating the maturity amount for a fixed deposit -
Maturity Amount= p (1+r/n) ^ nt
Where,
p = Principal amount
t = Time Period
n = Frequency of compounding in each time period
r = Rate of Interest
The ICICI FD calculator can be used to quickly gather data on the maturity amounts that can be earned in various schemes with different principal amounts and durations.
For example, suppose you have Rs. 3,00,000 to invest for 5 years and there is an ICICI FD that gives 6.85% interest. In order to calculate the interest amount, you simply have to -
The calculator will give the future value of the investment at the end of 5 years as Rs. 4,22,353 and the estimated return as Rs. 122,353. You can thereafter repeat this process for other FDs and compare the outcomes of each.
The following are the types of FD schemes offered by ICICI Bank -
The online ICICI FD calculator is a free tool for calculating the returns from investing an amount of money at a specific interest rate for a specific period of time in an ICICI FD.
Simply visit the Angel One ICICI FD calculator online page. Enter the principal, interest rate and investment tenure and you will be able to view the amount that you will receive on maturity.
Yes, the online ICICI FD calculator on the Angel One website is absolutely free. You can simply visit the page and enter the FD details to get the necessary figures on returns.
Short-term FDs can have a minimum tenure of as low as 7 days. However, the exact fugure depends on the bank and the scheme in particular.
The exact rate of interest that you will receive depends on the FD scheme of the bank, the tenure of investment, and whether the investor is a senior citizen or not. However, the rates on offer may change over time based on the RBI’s policy rates as well as other economic factors.
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