Navi Calculator Axis Bank FD Calculator 2023
Total Investment
Rate of Interest (P.a)
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Time Period (Years)
Invested Amount
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Est. Returns
Total Value
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
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.
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.
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.
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
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 |
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.
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.
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