IndusInd Bank FD Calculator

The IndusInd Bank FD calculator enables you to calculate the amount you will receive at maturity and the interest you will earn from your investment. Doing manual calculations can take up a lot of your time while FD calculators can help you get accurate results in a few seconds. The FD calculator is free to use, so you can use it multiple times to compare the interest rates offered by different financial institutions.

A fixed deposit (FD), also known as term deposit or time deposit, is a type of investment offered by financial institutions such as banks and NBFCs (Non-Banking Financial Companies). FDs are considered to be an ideal investment option for risk-averse investors. They allow investors to deposit a lump sum amount with a financial institution for a specific period and offer a specific interest for the investment.

Generally, fixed deposits are available in two forms - cumulative and non-cumulative FDs. In a non-cumulative FD, the interest is paid out at regular intervals based on your preference. You can choose to receive your interest monthly, quarterly, semi-annually, or annually. In a cumulative FD, the interest earned is compounded and added to the principal amount. The total amount, including the principal and accumulated interest, is paid out at the end of the tenure.

How Does The IndusInd Fixed Deposit Calculator Work?

The calculator uses the below formula to calculate interest for cumulative FDs (simple interest):

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
t is the tenure in years

The calculator uses the below formula to calculate the total amount (principal + interest compounded at maturity) for non-cumulative FDs (compounding interest):

Where,

M is the Maturity amount
P is the Principal amount that you deposit
r is the rate of interest per annum
n is the number of times the amount is compounded
t is the tenure in years

Example:

Mr. Ganesh is thinking about putting ₹4 lakhs into a fixed deposit. The FD is offering him an interest rate of 7.1%. He is planning to choose a tenure of 9 years for the FD. He wishes to receive an annual payout. Here’s how we can calculate his interest amount using the simple interest formula.

M = P + (P x t x r / 100)
M = 4,00,000 + (4,00,000 x 9 x 7.1/100)
M = 4,00,000 + (4,00,000 x 9 x 0.071)
M = 4,00,000 + 2,55,600
M = ₹6,55,600

Interest = 6,55,600 - 4,00,000
Interest = ₹2,55,600
Interest payable every year = 2,55,600 / 9 = ₹28,400

So, if Mr. Ganesh invests ₹4 lakhs into FD, offering an interest of 7.1% for a tenure of 9 years, he will be making a total amount of ₹6,55,600 and a payout of ₹28,400 every month. He will also receive his principal amount of ₹4 lakhs at the end of the tenure.

If Mr. Ganesh invests the same amount for the same interest rate and the same tenure but chooses to receive the amount at maturity, here’s how much he will make. We can find out this number using the compound interest formula.

M = P (1 + r/n) ^ (n x t)
M = 4,00,000 (1 + 0.071)^(1 x 9)
M = 4,00,000 (1.071)^9
M = 4,00,000 x 1.85398082241
M = ₹7,41,592 (approximately).

So, if Mr. Ganesh invests ₹4 lakhs in a cumulative FD, offering an interest of 7.1% for an investment tenure of 9 years, he will earn a maturity amount of around ₹7.4 lakhs at the end of the tenure.

How To Use The IndusInd Bank Fixed Deposit Calculator?

Follow the below steps to learn about the interest and accrued amount at maturity.

• Choose whether you wish to receive an annual payout or a cumulative payout.
• Then, you need to enter the deposit amount.
• Type in the interest rate of the deposit.
• Mention the tenure of the deposit.

When the details are entered, the calculator will show you the results instantly.

Benefits Of Using The IndusInd Bank Fixed Deposit Calculator

The key benefits of the fixed deposit calculator are:

• The FD calculator allows you to quickly see the results for varying inputs.
• The FD calculator enables you to compare the maturity amount for different interest rates and payout frequencies offered by different banks to make the best choice.
• The calculator can be accessed from anywhere, be it a mobile phone or laptop, and is free of charge.