Navi Calculator Yes Bank FD Calculator 2023
Yes Bank offers Fixed Deposit scheme currently with attractive interest rates from 3.25% to 8.25%, and flexible tenures. Manually calculating your Yes Bank FD maturity amount can be complex and prone to errors. But now, you can use the Yes Bank FD calculator as a more reliable and convenient alternative.
With the Yes Bank fixed deposit calculator, you can quickly and accurately determine your fixed deposit maturity amount and estimated returns. Using the calculator is incredibly easy – simply input your investment amount, duration, and interest rate. Within seconds, you can view your FD investment returns and the total amount you’ll receive upon maturity. Say ‘goodbye’ to manual calculations, and ‘hello’ to hassle-free calculations with the Yes Bank FD calculator.
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Yes Bank FD interest income and maturity amount can be calculated via the simple and compound interest methods.
The interest and maturity amount of an FD depends on the principal amount, interest rate, and tenure.
There are two methods for calculating the interest and maturity amount:
For simple interest:
Maturity amount = P(1 + (RT/100))
Interest earned = (PR*T)/100
Here, P is the principal amount, R is the interest rate, and T is the tenure.
Suppose you invest ₹1,00,000 in a Yes Bank FD for 3 years at a simple interest rate of 6%. The maturity amount and interest earned will be:
Maturity amount = 1,00,000 (1 + (63/100)) = ₹1,18,000
Interest Earned = (1,00,0006*3)/100 = ₹18,000
For compound interest:
Maturity amount = P * (1 + r/n)^(n*t)
Interest = Maturity Amount – Principal Amount
Where,
P = Principal amount
r = Interest rate
n = Number of times the interest is compounded per year
t = Tenure
Suppose you invest ₹1,00,000 in a Yes Bank FD for a tenure of 3 years at an interest rate of 6.5% per annum, compounded semi-annually. Using the compound interest formula, the maturity amount would be:
Maturity Amount = 1,00,000 * (1 + 0.065/2)^(2*3) = ₹1,21,154
Interest = 1,21,154- 1,00,000 = ₹21,154
The Kotak Bank interest and maturity calculator offers a multitude of advantages, as elaborated below:
Manual calculations can be prone to errors, whereas the FD calculator ensures precise results and helps you calculate the maturity amount and interest earned with high accuracy.
Calculating the maturity amount manually can be time-consuming, whereas the FD calculator provides quick and hassle-free results with just a few clicks.
The FD calculator is a user-friendly online tool that can be accessed from anywhere with an internet connection.
The FD calculator also allows you to compare the returns of different FD schemes with varying tenures and interest rates. This helps you make an informed decision about which scheme to invest in, depending on your financial goals and requirements.
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.
Yes Bank FD interest rate ranges from 3.50% to 7.75% (up to 8.25% for senior citizens) for deposits up to Rs 2 crore. The applicable interest rate varies depending on the tenure you choose. Here are some of the highlights of Yes Bank FD interest rate:
There are two ways to calculate Yes Bank FD interest and maturity amount –
The formula for simple interest method is:
Interest Earned = (PRT)/100
Maturity Amount = P + Interest Earned
Where, P = Principal amount invested, R = Rate of interest (%) and T = Tenure
Let’s take an example to understand this better. Assume you deposit ₹7 lakh at a 5% interest rate for 3 years. Then your interest income would be
= (7,00,000*5*3)/100 = ₹1,0,5000
Maturity value = P+I
= 7,00,000 + 1,05,000 = ₹8,05,000
The formula for interest calculation via the compound interest method is:
Maturity Amount = P * (1 + r*t)
Interest = Maturity Amount – Principal Amount
Where,
P = Principal Amount
r = Interest Rate
t = Tenure in years
Assume you deposit ₹8,00,000 at 5% interest rate for 2 years compounded semi-annually. Then your maturity value would be
= 8,00,000 (1+0.05/2)*(2*2) = ₹8,83,050.31
Interest = ₹8,83,050 – ₹8,00,000 = ₹83,050