- 5 K
- 1 Cr
Investments To Returns Ratio:
Indian Bank Fixed Deposit Calculator - An Overview
If you are looking for a safe and profitable way to invest your money, you might want to consider opening a fixed deposit (FD) account with Indian Bank. Indian Bank offers attractive interest rates and flexible tenures for its FD schemes, ranging from 6 months to 10 years. You can also choose the frequency of interest compounding, which can be monthly, quarterly, half-yearly, or yearly.
But how do you know how much interest and maturity amount you will get from your FD? That’s where the Indian Bank Fixed Deposit Calculator comes in handy. This online tool helps you estimate the returns from your FD investment in a matter of seconds. This guide will provide you with all the relevant information you need to use an Indian Bank FD Calculator.
Indian Bank Fixed Deposit Features
Some of the features of Indian Bank Fixed Deposit are:
- It offers attractive interest rates ranging from 2.80% to 6.70% p.a. for the general public and 3.30% to 7.20% p.a. for senior citizens.
- It allows flexible tenures from 7 days to 10 years, with a minimum deposit of Rs.1,000 and no maximum limit.
- It provides quarterly or monthly interest payout options with a discount or interest payment on maturity and the principal amount.
- It offers loan, foreclosure, and nomination facilities to the depositors, as well as automatic renewal facilities for an equal period.
- It has a special scheme called IND SUPER 400 DAYS that offers a higher interest rate of 7.25% p.a. for the general public and 7.75% p.a. for senior citizens for a deposit of Rs.10,000 to Rs.2 crore for 400 days.
- It also has tax-saving schemes such as the IB Tax Saver Scheme and Capital Gains Scheme Type B (Term Deposits) 1988 Scheme that offer tax benefits under Section 80C of the Income Tax Act.
What is Indian Bank Fix Deposit Calculator?
The Indian Bank Fixed Deposit Calculator is a useful tool for planning your savings and investment goals. You can compare different FD options and choose the one that suits your needs and expectations. You can also adjust the parameters until you get the desired ROI. The calculator is easy to use, accurate, and available online for free. You can access it anytime and anywhere at your convenience.
Don't Miss to Check: Indian bank FD Rates
How to Use Indian Bank FD Calculator?
Urban Money’s Indian Bank FD Calculator is an online tool that helps you calculate the interest and maturity amount of your fixed deposit (FD) in Indian Bank. You can use this tool to compare different FD schemes and choose the one that suits your financial goals. Here are the steps to use Urban Money’s Indian Bank FD Calculator:
- Scroll to the top, where the Indian Bank FD calculator tool is attached.
- Enter the amount you want to invest in the FD, the tenure of the FD (in months or years), the interest rate offered by the Indian Banks, and the frequency of interest compounding (monthly, quarterly, half-yearly, or yearly).
- Click “Calculate” to see the interest and maturity amounts you will receive at the end of the tenure.
- You can also adjust the parameters and see how they affect your returns.
Urban Money’s Indian Bank FD Calculator is a free and easy-to-use tool that helps you plan your savings and invest wisely. You can access it anytime and anywhere at your convenience. Try it out today and see how much you can earn from your FD investment in Indian Bank.
How Does an Indian Bank FD Calculator Work?
Urban Money Indian Bank FD Calculator uses a mathematical formula to calculate the interest and maturity amount of your fixed deposit (FD) in Indian Bank. The calculator takes the following inputs from you:
- The amount you want to invest in FD
- The tenure of the FD (in months or years)
- The interest rate offered by Indian Bank for the chosen FD scheme
- The frequency of interest compounding (monthly, quarterly, half-yearly, or yearly)
The calculator then applies the formula and shows you the interest and maturity amounts you will receive at the end of the tenure. You can also compare different FD schemes and see how they affect your returns. The calculator is fast, accurate, and easy to use.
Formula to Determine Indian Bank FD Returns
The formula used to determine the Indian Bank Fixed Deposit returns is as shown below:
A = P (1 + r/n) ^ n x t
- A is the maturity amount
- P is the principal amount
- r is the interest rate per annum
- n is the number of compounding periods per year
- t is the tenure in years
Benefits of Using the Indian Bank Fixed Deposit Calculator
Using the Indian Bank Fixed Deposit Calculator has many benefits for investors who want to invest in a fixed deposit (FD) in Indian Bank. Some of the benefits are:
- It helps you estimate the interest and maturity amount of your FD in a few seconds without any manual calculations or errors.
- It helps you compare different FD schemes offered by Indian Bank and choose the one that suits your financial goals and expectations.
- It helps you adjust the parameters such as the amount, tenure, interest rate and compounding frequency and see how they affect your returns.
- It helps you plan your savings, invest wisely, and make informed financial decisions.
Comparison Between Indian Bank Fixed Deposit with Other Banks
Comparing FD interest rates before finalising any bank can benefit an investor in many ways. Firstly, they can find the best FD scheme with the highest interest rate for their preferred tenure and amount. Moreover, one can maximise their returns and achieve their financial goals faster by choosing the most profitable FD option. Here is a list of a few banks offering fixed deposit schemes for investors, along with their offered interest rates.
|Interest Rate for General Public
|Interest Rate for Senior Citizens
|Suryoday Small Finance Bank
|6.85% to 9.10%
|7.35% to 9.60%
|Unity Small Finance Bank
|7.35% to 9.00%
|7.85% to 9.50%
|Equitas Small Finance Bank
|8.20% to 8.50%
|8.70% to 9.00%
|ESAF Small Finance Bank
|6.00% to 8.50%
|6.50% to 9.00%
|Fincare Small Finance Bank
|7.50% to 8.41%
|8.00% to 8.91%
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Know More About
- Axis Bank FD Calculator
- ICICI Bank FD Calculator
- HDFC Bank FD Calculator
- Bank of Baroda FD Calculator
- Union Bank of India FD Calculator
- State Bank of India FD Calculator
- Punjab National Bank FD Calculator
- YES Bank FD Calculator
- IDBI Bank FD Calculator
- CITI Bank FD Calculator
- IDFC FIRST Bank FD Calculator
- Deutsche Bank FD Calculator
- RBL Bank FD Calculator
- DCB Bank FD Calculator
- Kotak Bank FD Calculator
Indian Bank's Products
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Fixed Deposit Rate
Frequently Asked Questions (FAQs)
Q. What will be the interest amount of INR 1 lakh Fixed Deposit in Indian Bank?
The interest amount on a fixed deposit of INR 1 lakh in Indian Bank would depend on the tenure and interest rate of the fixed deposit. For example, if you were to invest INR 1 lakh in a 1-year fixed deposit with Indian Bank at an interest rate of 6.10% p.a., the interest amount would be approximately INR 6,100.
Which FD is better in Indian Bank?
Indian Bank offers a range of fixed deposit products with varying interest rates and tenures. It’s best to compare the different options and choose one that aligns with your financial goals.
Can I take a loan against a fixed deposit in Indian Bank?
Yes, you can take a loan against a fixed deposit in Indian Bank. The bank offers a loan or overdraft facility against deposits to its term deposit holders. The loan amount available is up to 90% of the accrued value of the deposit, with a margin of 10% on the accrued value of the deposit. The interest rate for the loan is 1% over the applicable rate for the term deposit pledged.
Can I withdraw my FD before maturity in Indian Bank?
Yes, you can withdraw your fixed deposit before maturity in Indian Bank. However, you may be charged a penalty fee of 1% of the total amount liable for return for premature withdrawal of your fixed deposit.
Is Indian Bank safe for FD?
Yes, Indian Bank is a safe option for fixed deposits. Indian Bank is a public sector bank regulated by the Reserve Bank of India (RBI). Deposits with Indian Bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a maximum of INR 5 lakhs per depositor.
How is FD maturity calculated in Indian Bank?
The maturity of a fixed deposit in an Indian Bank is calculated based on the tenure and interest rate of the fixed deposit. The interest on the fixed deposit is compounded quarterly and paid out at maturity. The maturity amount of the fixed deposit can be calculated using the formula: Maturity Amount = Principal * (1 + (Interest Rate/400))^(Tenure in months/3)
How many years will FD double in Indian Bank?
The number of years it will take for a fixed deposit to double in the Indian Bank depends on the interest rate of the fixed deposit. You can use the Rule of 72 to estimate the number of years it will take for your fixed deposit to double. The Rule of 72 is a simple formula that states that if you divide 72 by the annual interest rate, you will get an estimate of the number of years it will take for your investment to double.
What are the Indian Bank fd interest rates for senior citizens?
Indian Bank offers senior citizens attractive interest rates on fixed deposits. The bank offers an additional interest rate of 0.50% p.a. for domestic term deposits up to INR 10 crore for senior citizens. The additional rate is offered on deposits of 15 days to 10 years over the card rate for Short Term Deposits, Fixed Deposits, and Money Multiplier Deposit Schemes.
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