Urban Money

CITI Bank FD (Fixed Deposit) Calculator

  • 5 K
  • 1 Cr
Years
  • 1
  • 25
%
  • 1
  • 15

Future Value

Investments To Returns Ratio:

Amount Invested

Wealth Gained

Future Value

One can now determine the interest earned on a fixed deposit with Citi Bank using the Citi Bank FD calculator. This will provide information about the investment, including the principal amount upon maturity after interest has been compounded daily, monthly, quarterly, half-yearly, and annually. Online calculators can help you learn how much interest your fixed deposit can earn at the end of its tenure.

What is a Citibank Fixed Deposit Calculator?  

The CITI Bank FD calculator is a great online tool that helps investors protect their investment returns. Customers can use this tool to determine what returns they will receive once the fixed deposit's term has passed to assess their financial status. The CITI bank FD calculator also allows users to compare information based on other banks' interest rates.

Additionally, it helps users keep track of the interest rate and tenure details, which would result in a better yield.

Furthermore, powerful AI assistance enables the CITI Bank FD calculator to produce error-free results. Users will save time and effort and prevent manual calculation errors by using this application.

Citibank Fixed Deposit Features

There are various characteristics of the Citibank Fixed Deposit plan. The list below emphasises the advantages of the fixed deposit and mentions some of the appealing aspects of Citibank's fixed deposit programme because it is useful to be aware of what the policy has in store for the clients.

  • You only need to deposit Rs. 1,000 to start a fixed deposit account.
  • You are free to take money out of your FD account whenever you need it.
  • Offers attractive interest rates.
  • Opening a Citibank FD account is a very simple and hassle-free process. An FD account can be opened offline as well as online.
  • Offers a minimum tenure of seven days.

How Can you use the Citibank FD Calculator? 

Manually calculating the return on your investment might be challenging. The process is simple and quick, thanks to the Urban Money Fixed Deposit Calculator. You can quickly calculate an expected return on investment with a few inputs.

Following are the steps to calculate the Citibank FD efficiently with Urbanmoney:

  • Collate all the necessary details that are needed by the calculator
  • Fill in all the necessary details in all the required fields
  • Choose your choice of FD that you want to invest in

Once you are done with the steps above, you will be able to see the estimated amount.

What is the Formula to Determine Citibank FD returns?

The methods of simple interest and compound interest can be used to calculate fixed deposits with the help of the CITI Bank FD calculator, as shown below.

The Simple Interest

The interest and maturity amount for a set interest rate, principal, and tenure are calculated using simple interest.

A= P+(P*R*T)/100

(*A= Amount on Maturity, P= Invested Amount, R=Rate of Interest, T= FD Tenure)

For instance,

The amount invested is Rs. 6,000, with the interest rate of 5%, and the FD Tenure is of 6 Years, then:

A= 6000+(6000*5*6)/100

 = 6000+1800

 = INR 7800

The Compound Interest

The interest is accrued on both the principal and interest in compound interest.

A= P (1+r/n)^(n*t)

(*A= Amount on Maturity, P= Invested Amount, r=Rate of Interest, t= FD Tenure, n= No. Of compounding years)

For instance,

The amount invested is Rs. 50,000, with an interest rate of 5%. The FD Tenure is 4 Years, then:

A=50,000(1+0.05/2)^(2*4)

   = 60,920.145

Benefits of using the Citibank FD Calculator

The CITI Bank FD calculator offers several benefits for investors. Here are some benefits of using the CITI Bank FD interest rate calculator:

  • The fixed deposit calculator is free of charge.
  • Thanks to the AI-powered calculator, the taxpayers are provided with an accurate value.
  • There's no room for mistakes.
  • It is a simple web application that lets users know their maturity amount.
  • It enables a user to arrange their financial objectives in accordance.
  • By monitoring the budget enables investors to preserve a diverse portfolio.
  • It is not a calculator for one-time usage. Users can utilise the Citibank interest rate calculator several times by entering various sums and terms.
  • The responses offered are swift.
  • It assists a user in formulating different methods in line with their financial needs.
  • To use the CITI bank FD rates calculator, you do not need to know financial terminologies.

Citibank Fixed Deposit Interest Rates

The range of the interest rate of the fixed deposit schemes offered by Citibank can be found in the table below:

Time Period FD Rate (General Public) FD Rate (Senior Citizens)
7-14 days 1.85% 2.35%
15-35 days 1.90% 2.40%
36-180 days 2.55% 3.05%
181-270 days 2.60% 3.10%
271-364 days 2.75% 3.25%
365-400 days 2.75% 3.25%
401-540 days 2.75% 3.25%
541-731 days 3.00% 3.50%
732- 1095 days 3.50% 4.00%
>=1096 days 3.50% 4.00%

Note: The mentioned interest rate of the banks has been taken as of October 2022

Comparison between Citibank FD Interest Rates with Other Banks

When creating a strategy for investing in fixed deposits, investors and depositors shouldn't be bothered about the varying interest rates offered by the various banks. The table below compares Citibank FD Interest rates with other banks and lenders.

Bank Name FD (RoI)
SBI Bank 2.90%-5.40%
ICIC Bank 2.50%-5.60%
Axis Bank 2.50%-5.75%
HDFC Bank 2.50%-5.50%
Bank of Baroda 2.80%-5.25%
IDFC bank 3.00%-4.65%
Kotak Mahindra Bank 2.50%-5.30%
Canara Bank 2.90%-5.35%
Yes Bank 3.25%-6.25%
IndusInd Bank 2.50%-6.00%
Punjab National Bank 2.90%-5.25%
IDBI Bank 2.70%-5.40%
Union Bank 3.00%-5.50%
RBL Bank 3.25%-6.30%
Indian Bank 2.80%-5.25%

Note: The mentioned interest rate of the banks has been taken as of October 2022

Frequently Asked Questions (FAQs)

What is the current FD rate of Citibank?

The current FD rate of Citibank varies between 1.85%-6.75% p.a.

What is the interest of 1 lakh in Citibank?

CITI bank offers a 1.85%-6.10% interest rate on a 1 lakh amount.

Which FD is better in Citibank?

The CITI Bank Tax Saving FD is the best to start investing in.

Can I take a loan against a fixed deposit in Citibank?

Yes, one takes a loan against a fixed deposit in CITI bank, but this facility only applies to domestic customers (Indians).

Can I withdraw my FD before maturity in Citibank?

One can withdraw the FD before maturity in CITI bank, but a penalty will be charged o the withdrawal amount.

Is Citibank safe for FD?

CITI bank’s FDs are safe and a secure way to invest your money wisely for better future planning.

How many years will it take for a Citibank FD to double in investment?

CITI bank’s FD growth depends on the rate of interest and tenure. The method, ‘Rule 72’, helps calculate the exact number of years the amount will get doubled.

What are the Citibank FD interest rates for senior citizens?

Citibank offers senior citizens FD interest rates that range between 2.3 to 6.6%, with tenures ranging from seven days to three years.