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Indian Bank FD Calculator

Total Investment

Interest rate

%

1%

15%

Select Duration

Yrs

1 Yr

30 Yrs

The future value of investment will be

0

Invested Amount

Estimated Return

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What is the Indian Bank FD Calculator?

The Indian Bank FD calculator helps us calculate the returns we can get from investing in a fixed deposit of the Indian Bank. Fixed Deposits (FDs) are investments where you can get returns at a higher rate than that of savings deposits. Since the rate of return is fixed, you can calculate the exact returns you will get for a particular investment even before opening the account.

However, to make that calculation, you will either have to solve a formula manually, or you can simply use the online Indian Bank FD calculator. The FD calculator online is a simple and convenient tool to calculate an FD's maturity amount for a given principal, rate of return and duration of the investment.

How Does an Indian Bank FD Calculator Work?

An FD calculator simply requires you to enter the following details - 

  1. Total investment
  2. Interest Rate
  3. Duration

Once you enter these values, the calculator will automatically show you the exact figure of the future value of the investment and the estimated return.

What is the Indian Bank FD Calculator Formula?

The following is the Indian Bank 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

How to Use the Indian Bank FD Calculator Online?

Once you have found an online FD calculator, you can start comparing maturity amounts for various investment amounts, durations and banks. For example, suppose you have Rs. 2,00,000 to invest for 5 years. There is an FD that gives 6.75% interest. To calculate the interest amount, you simply have to - Go to the Indian Bank FD calculator page on the Angel One website. Enter Rs. 2,00,000 under “Total Investment” Enter the interest rate as 6.75% Enter the duration as 5 years You will then automatically find the future value of the investment at the end of 5 years to be Rs. 2,80,188 and the estimated return to be Rs. 80,188. You can thereafter replicate this process for other FDs and compare the returns from each.

Benefits of Using an Indian Bank FD Calculator

  1. Estimate earnings in advance - You can easily ascertain the future value of your FD investment for a certain combination of the principal amount, interest rate, and time period.
  2. Comparing and choosing from various investment options - Easy and fast calculations allow an investor to compare multiple FD schemes with different principals and durations.
  3. Free, accurate and easy to use - You can do it for free from your home using a phone or laptop. Each calculation is error-free and takes less than a second.

Types of Indian Bank FD Schemes

  1. Regular Fixed Depsoits - This involves a 6 months to 10 years time deposit with quarterly or monthly compounding.
  2. Short Term Deposits - This scheme is applicable for a tenure of 7 days to 180 days.
  3. IND Super 400 days - This scheme offers a higher interest rate for a fixed maturity tenure of 400 days.
  4. IND Non-Callable deposit - A minimum of Rs. 5 crore required but no premature withdrawals are allowed for this scheme.
  5. IB Tax Saver Scheme - This scheme is useful for availing tax benefits under Sec 80C of the Income Tax Act.
  6. IB Golden Ager - This is a term deposit for super senior citizens.
  7. Capital Gains - Capital gains from this are exempted if the gains are deposited in a public sector bank.
  8. Money Multiplier Deposits - It is a 6 months to 10 years time deposit with quarterly compounding.

Factors Influencing Indian Bank FD Earnings

  1. Principal amount - The principal is the amount that the investor contributed to the scheme. The part of the future value that is over and above the principal is the interest earned. Higher the initial investment, higher the maturity amount will be.
  2. Tenure of investment - This is the entire period when the principal remains invested in the FD. Higher the tenure of investment, higher the interest earned.
  3. Rate of interest - The interest rate is the return the investment gets at the end of every period, calculated as a percentage of the principal. Therefore, higher the interest rate, higher the increment per year and thereby, higher the eventual maturity amount.
  4. Frequency of compounding - This means how often the interest is calculated and added to the principal for further calculations of interest. The higher the frequency of compounding, the higher the interest earned because of the compounding effect.
  5. Taxation - A higher tax rate means you get less return for the same principal, interest and investment tenure.
  6. Inflation - Even if you earn a high return on your FD, a high inflation rate may reduce your return's real value, i.e., compared to your expenses.

Indian Bank FD Calculator FAQs

What is the Indian Bank FD calculator?

The Indian Bank FD calculator is a free online tool for calculating the maturity amount you can earn from investing a particular amount of money at a specific interest rate for a certain period in an Indian Bank FD.

How to use the Indian Bank FD calculator online?

You simply have to visit the Angel One Indian Bank FD calculator page. Thereafter, enter the required details such as principal, interest rate and investment tenure. You will immediately see on your screen the amount that you will be entitled to on maturity.

Is the Indian Bank calculator free to use?

Yes, the online Indian Bank FD calculator present on the Angel One website is absolutely free. To use it, just visit the page, enter the principal amount, interest rate and investment tenure and will automatically see the maturity amount.

How is fixed deposit interest calculated?

  1. First, the principal amount is compounded using interest rate, duration and compounding frequency. This will give you the future value of the investment.
  2. Then subtract the original principal amount from the future value or maturity value. The difference is the interest amount.

Is there a penalty if the bank FD is withdrawn prematurely?

Yes, penalties will apply if the bank FD is withdrawn prematurely (i.e. before the end of the investment period).

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