Rate of Interest (P.a)
Time Period (Years)
The Kotak FD calculator can compute your investment’s interest and maturity amount. The calculator uses both simple interest and compound interest calculation methods.
The formula below is used for computation using the simple interest method:
Simple Interest = (P * R * T)/100
Here, P is the principal, R is the applicable interest rate, and T is the time for which money remains invested.
Here is an example of the simple interest calculation method:
Suppose the investment amount is ₹60,000 and the investment tenure is 6 years, with a rate of interest of 4% per annum.
Simple interest = (60,000*4*6)/100 = ₹14,400
Amount upon maturity = Principal + Simple Interest = ₹60,000 + 14,400 = ₹74,400
Thus, the investment will yield ₹14,400 as interest, and the maturity amount will be ₹74,400
Alternatively, the FD maturity amount is calculated using the compound interest method. The formula is below:
A = P (1+r/n) ^ (n * t)
Here, A is the final amount upon maturity, P is the principal invested, r is the interest rate applicable, T is the time period, and n is the number of times compounding happens.
Suppose you invest ₹1,50,000 for 6 years at 4% per annum, compounded semi-annually.
A = 1,50,000 (1+0.04/2) ^ (2*6)
Maturity Amount = ₹1,90,236
Interest amount = ₹1,90,236 – ₹1,50,000 =₹40,236
The Kotak Bank interest and maturity calculator offers a multitude of advantages, as elaborated below:
Kotak Bank offers an online FD calculator on its website, which you can use to calculate the interest earned on your fixed deposit. You can also access the calculator on our site. To use the FD calculator, you will need to enter the deposit amount, tenure, and type of deposit. The calculator will then display the estimated maturity value of your FD, along with interest earned.
Kotak Bank’s interest rates lie between 2.75% and 7.93%, depending on the tenure and fixed deposit scheme. Below are key highlights of the Kotak Bank fixed deposits:
You can calculate interest and maturity amounts using simple and compound interest methods.
To calculate Kotak Bank FD maturity amount and interest via the simple interest method, the following formula applies:
Simple Interest = (Principal amount invested * Rate of interest * Tenure)/100
Suppose you invest Rs. 2,00,000 for a tenure of 3 years at an interest rate of 8% p.a.
Using the formula above, the simple interest amounts to:
Simple Interest = (2,00,000 * 8 * 3) /100 = ₹48,000
Maturity Amount = Principal Amount + Simple Interest = ₹2,00,000 + ₹48,000
Thus, your investment will grow to ₹2,48,000 in 3 years.
The alternative method to calculate FD maturity is via the compound interest method, which applies the following formula:
A = P (1+r/n)^(n*t)
Here, A = Maturity Amount, P = Principal amount invested, r = Rate of Interest, n = Number of compounding in a year, and t = tenure.
For example, if you invest ₹1,50,000 lakh for 7 years at an interest rate of 7.5% p.a. compounded semi-annually. Then, using the formula, the maturity amount becomes:
A = 1,50,000 (1+0.075/2)^(2*7) = Rs. 2,51,145
Interest earned= Maturity Amount – Principal = Rs. 2,51,145 – Rs. 1,50,000 = Rs. 1,01,145