# Axis Bank FD Calculator 2023

Axis Bank FD calculator is a user-friendly online calculator that calculates the interest earned on your fixed deposits based on the type of deposit, the investment amount, and the tenure the depositor wishes to stay invested for. This calculator lets you compare different FD options by varying the parameters and helps make informed investment decisions. The Axis Bank FD calculator is easy, convenient, and accessible to anyone with an internet connection – both on mobile and desktop. Also, you can get accurate estimates of your interest earnings through simple and compound interest methods of calculation where applicable.

Total Investment

Rate of Interest (P.a)

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Est. Returns

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## How to Use Axis Bank Fixed Deposit Calculator?

The Axis FD calculator considers the deposit type, amount, and tenure, to calculate the maturity amount. Follow the 3 steps below to calculate your estimated interest income and maturity amounts instantly.
The Axis Bank fixed deposit calculator will then display the estimated maturity amount and interest income.

## Axis Bank FD Interest and Maturity Amount Calculation Formula

The interest and maturity value on fixed deposits can be calculated using simple and compound interest methods. Let’s first look at the calculation via the simple interest method:

Assume you invested ₹1,00,000 in a fixed deposit for 3 years at an annual interest rate of 7%.

Here’s how you can calculate the interest and maturity value:

Simple Interest = (P × R × T) / 100

Where P = principal amount, R = rate of interest per annum and T = time in years

Substituting the values, we get:

Simple Interest = (1,00,000 × 7 × 3) / 100

Simple Interest = ₹21,000

Now let’s calculate maturity value.

Maturity Value = P + I

Substituting the values, we get:

Maturity Value = ₹1,00,000 + ₹21,000

Maturity Value = ₹1,21,000

Therefore, the maturity value of the fixed deposit after 3 years at a simple interest rate of 7% per annum is ₹1,21,000.

Another method to calculate the interest earned by your FD is the compounding method. The formula is given below:

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

Where A = Maturity amount, P = Principal amount invested , r = Annual interest rate , n = Number of times interest is compounded per year and t = Time of investment in years

Let’s take an example to understand this better.

Principal (P) =  Rs. 1,00,000, Annual rate (R) = 7%, Compound (n) = Semi-annually and Time in years = 3 years

Substituting the values in the above formula, we get:

A = 100,000 * (1 + 0.07/2)^(2*3) = ₹1,22,925

While the interest earned on the fixed deposit can be calculated as follows:

Interest = Maturity value – Principal amount

I = ₹1,22,925 – ₹1,00,000 = ₹22,925

## Benefits of Using Axis Bank Fixed Deposit Interest Calculator

Listed below are the primary benefits of using the Axis fixed deposit calculator:

### Free to Use

There are no associated fees to using the Axis fixed deposit calculator. It is free to use with no hidden charges, making it accessible to everyone with an internet connection.

### Gives Quick and Accurate Results

The Axis Bank FD calculator is designed to provide fast and accurate results in a few seconds. Select the necessary details like investment amount, tenure and interest rate and you will be able to check your maturity amount and interest earned in no time.

### Helps with financial planning

Using the Axis Bank FD calculator helps individuals plan their finances better by giving them a clear estimate of their investment earnings. Users can input and vary their investment amount, tenure, and desired interest payout routine to calculate the expected returns and make informed decisions based on the results.

For fixed deposits with a tenure of less than 6 months, simple interest is calculated on the number of days. Fixed deposits with a tenure of 6 months and above earn compounded interest calculated quarterly.
If you use the Mobile app or Internet Banking to open an FD account with Axis Bank, the minimum investment amount is ₹5,000. However, if you prefer to visit a bank branch, the minimum investment amount is ₹10,000.
You can invest in a fixed deposit for as less as 7 days with Axis Bank, while the maximum tenure is 10 years.
Axis Bank offers senior citizens a 50 basis points higher interest rate. It, however, depends on the tenure of the fixed deposit and other applicable T&Cs.
Yes, the interest you earn on fixed deposits is taxable under the Income Tax Act 1961. The bank deducts the tax at the source (TDS) at 10% if you have provided the PAN card details. TDS increases to 20% if you fail to provide the PAN.
Disclaimer : Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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### What is Axis Bank Fixed Deposit Interest Rate in 2023?

The Axis Bank fixed deposit offers a safe and flexible investment option with a minimum deposit of ₹5,000 (₹10,000 for offline deposits) and a tenure ranging from 7 days to 10 years. The interest rate varies from 3.50% to 7.26% for the regular public and goes up to 8.01% for senior citizens. Below are some highlights of the Axis Bank FD scheme.
 Interest rate 3.50% to 8.01% Tenure 7 days to 10 years Minimum Deposit ₹5,000 (via internet banking or mobile app); ₹10,000 via branch Maximum Deposit NA Lock-in period NA

### Ways to Calculate Axis Bank Fixed Deposit Interest and Maturity Amount

The interest rates on fixed deposits can be calculated via two methods – simple and compound interest methods.

Simple interest is calculated as a percentage of the principal amount and remains constant throughout the tenure. Compound interest, on the other hand, is calculated on the principal amount and the accumulated interest, resulting in higher returns than simple interest over the same tenure.

1. Simple interest

To calculate the simple interest, the following formula is used –

Simple Interest = (P × R × T) / 100

Where P = principal amount, R = rate of interest per annum and T = time in years

Using the simple interest method, let’s assume you invested ₹3,00,000 in a fixed deposit for 4 years at an interest rate of 7% per annum.

Substituting the values, we get

Simple Interest = (3,00,000 × 7 × 4) / 100

Simple Interest = ₹84,000

Now let’s calculate the maturity value.

Maturity Value = P + I

Substituting the values, we get:

Maturity Value = ₹3,00,000 + ₹84,000

Maturity Value = ₹3,84,000

Therefore, the maturity value of the fixed deposit after 4 years at a simple interest rate of 7% per annum is ₹3,84,000.

1. Compound interest

To calculate the interest earned by your FD via the compounding method, the following formula is used

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

Where A = Maturity amount, P = Principal amount invested, r = Annual interest rate, n = Number of times interest is compounded per year and t = Time of investment in years

Let’s take an example to understand this better.

Principal (P) =  ₹3,00,000, Annual rate (R) = 7%, Compound (n) = Semi-annually, Time in years = 4 years

Substituting the values in the above formula, we get:

A = 3,00,000 * (1 + 0.07/2)^(2*3) = ₹3,95,042

While the interest earned on the fixed deposit can be calculated as follows:

Interest = Maturity value – Principal amount

I = Rs. 3,95,042.71 – ₹3,00,000 = ₹95,042

Here’s how the Axis Bank FD interest rates calculator helps you:
• Accurate results : The Axis Bank FD calculator is a powerful financial tool that can provide accurate and error-free estimates of the returns (maturity value and interest income).
• Helps in Better Investment Planning : The Axis Bank FD calculator can help you to plan your investments more effectively by allowing you to experiment with different tenures and interest payout schedules. You can calculate the interest earned for a fixed sum at different tenures and choose the one that best suits your investment goals.
• Easy-to-use Interface : The Axis Bank FD calculator has an easy-to-use interface. All you have to do is enter the required information and, in seconds, have return estimates displayed.

### Factors that Can Affect Axis Bank Fixed Deposit Maturity Amount Calculation

Here are the primary factors that affect the maturity value of a fixed deposit.
• Investment amount : The amount invested in a fixed deposit directly impacts the maturity value. Higher investment amounts typically yield higher returns, as the interest earned on the deposit is calculated based on the principal amount.
• Tenure : The tenure of a fixed deposit refers to the duration for which the investment is made. Longer tenures generally yield higher returns, as the interest rate on fixed deposits is usually higher for longer tenures.
• Interest rate : The interest rate offered on fixed deposits is one of the most significant factors affecting the maturity value. Higher interest rates result in higher returns on the investment, while lower rates result in lower returns.
• Age group : Senior citizens are often offered higher interest rates (8.01% compared to 7.26% for particular tenures) on fixed deposits than the general public.
Use the Axis Bank FD calculator to plan your finances and make informed decisions. Try it out today to know how much you can earn with an Axis Bank fixed deposit. 