How can the IDFC Bank  FD calculator help you?

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.

How does the IDFC Bank FD Calculator Work?

The basic formula that is used is: A = P (1 + r/n )^n*t

• A - the amount that you receive on maturity.
• P - the amount you want to or will invest.
• r - annual rate of interest.
• N- number of times the interest is compounded.
• t- tenure of the investment.

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

How to Use IDFC Bank Fixed Deposit Calculator?

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:

• The type of deposit must then be selected (short-term, reinvestment, quarterly payment, and monthly payout are the available possibilities).
• Enter the tenure year, tenure days, and deposit amount, or choose them using the slider.

An instant calculation will be made of the FD amount plus cumulative FD interest. 

Benefits of the IDFC Bank FD Calculator

IDFC Bank FD Calculator comes with the below benefits:

• Easy to use
• Helps with financial planning
• Find out the right values quickly
• Helps make sound financial decisions 

Bank Domestic Term Deposit Rates: (Below Rs.2 crore)

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.

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