Yes Bank Fixed Deposit 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.
Total Investment
Rate of Interest (P.a)
%
Time Period (Years)
Invested Amount
0
Est. Returns
Total Value
How to Use Yes Bank Fixed Deposit Calculator?
- Step 1 : Enter the FD investment amount or use the slide bar to select the same
- Step 2 : Next, enter the rate of interest (p.a.)
- Step 3 : Then enter the tenure of your FD investment in years
Yes Bank FD Interest and Maturity Amount Calculation Formula
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:
- Simple interest
- Compound interest
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
Benefits of Using Yes Bank Fixed Deposit Interest Calculator
The Kotak Bank interest and maturity calculator offers a multitude of advantages, as elaborated below:
Accurate calculation
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.
Time-saving
Calculating the maturity amount manually can be time-consuming, whereas the FD calculator provides quick and hassle-free results with just a few clicks.
Easy to use
The FD calculator is a user-friendly online tool that can be accessed from anywhere with an internet connection.
Aids comparison
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.
Frequently asked questions
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What is Yes Bank Fixed Deposit Interest Rate in 2023?
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:
- Interest Rate: 3.25% to 7.75%
- Tenure: 7 days to 10 years
- Minimum Deposit: ₹10,000
- Maximum Deposit: No Upper Limit
- Lock-in Period: 7 days (5 years in tax saver)
Ways to Calculate Yes Bank Fixed Deposit Interest and Maturity Amount
There are two ways to calculate Yes Bank FD interest and maturity amount –
- Simple Interest Method
- Compound Interest Method
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
How Can Yes Bank FD Calculator Help You?
- User-friendly interface: The Yes Bank fixed deposit calculator has an easy-to-use interface. Just input the necessary details, and the calculator will display your maturity and return amount.
- Fast and accurate results:There is no waiting time with the Yes Bank FD calculator. Enter your investment amount, tenure, and interest rate, and you will receive accurate results in seconds. Say goodbye to human errors!
- Investment planning : The Yes Bank FD calculator can help you plan your investments better. By selecting your desired tenure, investment amount, and applicable interest rate, you can determine which amount or tenure most aligns with your investment goals.
Factors that Affect Yes Bank Fixed Deposit Maturity Amount Calculation
- Interest Rate : The interest rates will vary based on the chosen scheme and tenure. Additionally, senior citizens are eligible for 0.50% higher FD rates than normal rates.
- Tenure : Your investment duration will impact the maturity amount. The longer the tenure, the larger the maturity amount.
- Principal amount: The maturity amount can also depend on the principal amount invested. If you have invested a nominal amount, your maturity amount would also be lower. It is essential to factor in your investment objective and goals and invest the amount that aligns with your financial goals.
- Investor’s age : YES Bank offers preferential FD interest rates to senior citizen depositors. A higher applicable interest rate means a bigger FD maturity amount.