Fixed deposits have grown in popularity over the years. The common public used fixed deposits like money-saving instruments that yield good returns. You can compute the interest and accrued amount at maturity with the IDFC FIRST Bank online FD calculator. It's an easy-to-use tool with input fields that need to be filled in before the result can be calculated.
The basic formula that is used is: A = P (1 + r/n )^n*t
You end up investing ₹10,000 for a tenure of 5 years at the rate of 6% compounded annually.
So,
P = ₹10,000
r = 6%
n = 1
t = 5
Hence, A = ₹10,000 (1+6%/1)^1*5
According to the calculations above, your result will be Rs. ₹13,382.25
Calculating the interest and accumulated amount at maturity is made easier with the IDFC FIRST Bank online FD calculator. It is an easy-to-use tool with input fields that need to be filled out to get the desired outcome.
To use the monthly interest tool for the FD calculator, follow these steps:
An instant calculation will be made of the FD amount plus cumulative FD interest.
IDFC Bank FD Calculator comes with the below benefits:
For tenures ranging from seven days to ten years, IDFC FIRST Bank offers fixed-rate savings accounts (FDs) with interest rates of 3.50–7.75% p.a. to the general public and 4.00–8.25% p.a. to seniors. To Know more about IDFC FD Rates, Click here.