Equitas Small Finance Bank Fixed Deposit (FD) Interest Calculator

Equitas Small Finance Bank is a financial institution based in Chennai. They have several fixed deposit schemes that customers may invest in to safeguard their savings and earn interest on their deposits. Fixed deposits are usually long-term investments where the customer may lock a certain amount of money and earn guaranteed returns on them. The Equitas Small Finance Bank FD calculator will help the customer to determine the suitable fixed deposit scheme for his needs.

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Maximum returns Offered by Guaranteed

6.5%**

Fixed Deposits

(by SBI bank)

(5-10 Years)

7.1%***

Public Provident Fund

(other popular options)

(15 Years)

We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
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We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
Equitas Small Finance Bank FD Calculator

Total Investment

₹500 ₹30L
Enter Total Investment

Rate of Interest (Yearly)

1% 15%
Rate of Interest (Yearly)

Time Period

1 Year 15 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

What is Equitas Small Finance Bank FD Calculator?

The Equitas Small Finance Bank FD Calculator is a digital tool that helps the customer determine the maturity amount that he can expect at the rate of interest provided by the bank.

It allows the customer to decide the investment amount and know relevant returns. Equitas Small Finance Bank FD calculator is a quick, accurate, and dependable device that saves time and resources.

How Does Equitas Small Finance Bank FD Calculator Work?

A customer is required to enter the data requested by the Equitas Small Finance Bank FD calculator and click on the ‘Calculate’ button. Within minutes, the customer will know the maturity value and other information regarding their investment. This calculator is simple to operate, and anyone can handle it hassle-free. In addition, it is accessible on the company website to anyone. 

The table below gives a rough idea of the rates on interest offered by Equitas Small Finance Bank. These are the rates for domestic as well as NRI customers:

Tenure Interest Rates Annualized Yield
7 – 14 days 3.5 3.5
15 – 29 days 3.5 3.5
30 – 45 days 3.5 3.5
46 – 62 days 4 4
63 – 90 days 4 4
91 – 120 days 4.75 4.75
121 – 180 days 4.75 4.75
181 – 210 days 5.25 5.32
211 – 270 days 5.25 5.32
271 – 364 days 5.25 5.32
1 year to 18 months 6.35 6.5
18 months 1 day to 2 years 6.25 6.4
2 years 1 day 887 days 6.35 6.5
888 days 6.5 6.66
889 days to 3 years 6.35 6.5
3 years 1 day to 4 years 6.25 6.4
4 years 1 day to 5 years 6.25 6.4
5 years 1 day to 10 years 6.5 6.66

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Expand

Simple Interest vs Compound Interest

In straightforward terms, interest can be explained as the amount of money that is added back to the principle that the customer invests. However, there are two types of interest that a customer might earn. 

The first is the simple interest which is calculated as follows:

I=p X n X r

Where; 

I = Interest

p= Principal

r= rate of interest 

This is usually the way interest is calculated for investments made for a period of fewer than 6 months.

The other type is compound interest, which is a bit more complicated. It is calculated as follows:

A = P (1+r/n) ^n*t

Where;

A = maturity amount

P = Principal

r = Rate of interest

n = Frequency of compounding 

t = Tenure of FD

Usually, investments made for 6 months or longer are compounded at the quarter of every financial year.

Compound interest provides more benefits to investors. It is advised larger sums of money be invested for an extended period to receive maximum benefits.

These calculations can help understand the process of using the Equitas Small Finance Bank FD Calculator.

Advantages of Equitas Small Finance Bank FD Calculator

Listed below are the benefits customers can gain from using the Equitas Small Finance Bank FD Calculator:

  • It instils the habit of financial discipline. Upon usage of the calculator, the customers will be able to develop the habit of saving regularly. This will help them to generate a large corpus.

  • It is hassle-free.  Using the FD calculator is relatively easy, and all the steps are self-explanatory.

  • It is free of cost. Therefore, there will be no additional charges that the customer has to bear to use this digital device.

  • It allows the customer the opportunity to make comparisons. For example, the customer can easily compare the rate of interest.

  • It can be operated from anywhere. Therefore, the customer may access this digital tool at any time of the day from anywhere at any time at his convenience.

FAQ's

  • Q. What is the minimum amount that can be invested in Equitas Small Finance Bank fixed deposit?

    Ans: A minimum of Rs. 1000 is required to invest in the bank.
  • Q. What is the maximum amount that can be invested in Equitas Small Finance Bank fixed deposit?

    Ans: There is no cap to the amount of money that can be invested in a fixed deposit in the bank.
  • Q. What is the maximum rate of interest offered by Equitas Small Finance Bank?

    Ans: The maximum rate of interest offered by Equitas Small Finance Bank is 6.5%.
* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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