ICICI Bank FD Calculator

The ICICI Bank FD calculator is an online tool that calculates the maturity amount for a fixed deposit in ICICI Bank. It enables depositors to know the amount that they will get after their ICICI Bank FD matures. This tool evaluates information, such as deposit amount, applicable ICICI Bank FD rates, maturity period as well as interest calculation frequency, to estimate the FD maturity amount.

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ICICI Bank FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

Fixed deposit is a low-risk investment option where people can invest their additional savings and earn attractive returns. All banks in India, including ICICI Bank, offers various fixed deposits schemes to its customers. The Bank calculates interest on fixed deposits annually, semi-annually, quarterly as well as monthly. Besides, senior citizens can earn a higher rate of interest on ICICI Bank FD as opposed to the general public.

How Can ICICI Bank Fixed Deposit Calculator Help?

The ICICI Bank offers a wide range of short-term as well as long-term fixed deposit schemes with assured returns. A depositor should invest in an FD scheme that coincides with the purpose of the investment and mirrors his/ her maturity goals. The ICICI Bank FD rates vary as per the chosen investment tenure or maturity period. The Bank offers fixed deposit for an investment tenure of at least 7 days to a maximum of 10 years. Take a look at the ways through which an ICICI FD Calculator can be helpful for a depositor:

  • Calculate Maturity Amount - An ICICI fixed deposit calculator helps a person to calculate the earnings that he/ she will generate on investing in an FD with the Bank. Thus, it helps them to select the FD scheme that will offer maximum returns.
  • Decide FD Investment Tenure - This tool can be used to determine the FD tenure which will help a depositor to earn the maximum returns for the investment amount.
  • More Accurate - The calculations done by an ICICI FD interest calculator are more accurate than doing manual calculations. Thus, you can determine the maturity amount without any errors using this calculator.
  • Plan Future Investment Goals - It helps a person to plan his/ her future investments by estimating the maturity amount for different types of fixed deposit schemes. He/ she can invest in an FD scheme that will help you achieve your investment goals.
  • Saves Time - An FD calculator by ICICI Bank is quite efficient and helps to save a lot of time as the person does not need to visit the nearest Bank branch to know the estimated maturity amount.

How Does an ICICI Bank FD Calculator Work?

An ICICI FD calculator determines the maturity amount for a fixed deposit scheme with the help of the following formula:

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

In this formula,

‘A’ stands for FD maturity amount that you will generate at the end of the investment tenure,

‘P’ stands for the amount invested in an ICICI Bank FD scheme,

‘r’ stands for the applicable FD interest rate,

‘n’ stands for the number of times the interest is calculated on an FD within a year

‘t’ stands for FD investment tenure

Thus, the value of ‘n’ is ‘1’ if the interest is calculated once a year, ‘2’ if calculated twice of year, ‘4’ if calculated once every quarter and ‘12’ if calculated once every month.

Let’s understand with the help of an example: Suppose a person decides to invest Rs 5 lakh in an ICICI Bank fixed deposit scheme for 5 years that offers an interest rate of 8% calculated half-yearly.

In this case, P = Rs 5,00,000, r =8%, n = 2 and t = 5.

On applying the formula, it comes to A = 5,00,000 (1+8/2)^2*5 and thus, the maturity amount will equal to Rs 7.4 lakh at the end of 5 years.

Simple Interest vs. Compound Interest

ICICI Bank calculates interest on fixed deposit by two methods - simple interest and compound interest. The following table represents the differences between simple interest and compound interest:


Simple Interest on ICICI Bank FD

Compound Interest on ICICI Bank FD


It is a type of FD interest payment method where a pre-decided rate of interest is earned on the investment amount for a specified period of time.

It is a type of FD interest payment method where a pre-decided interest rate is earned on the principal investment amount but is paid only at maturity.

Investment/ Principal Amount

Under this method, the interest is calculated on the principal amount and will be added to the depositor’s bank account at every interval.

Under this method, the interest compounded during the first month/ interval will be added to the principal amount. The total of the original principal amount and the interest earned will become the new principal amount. The same process continues until maturity.

Change in Principal Amount

No changes are made to the principal amount during the FD tenure.

The principal amount increases at every interval as the interest is compounded to the previous principal amount to become the new FD amount.

Returns Earned

Lower interests are earned under simple interest method as there is no change in the  principal amount.

Higher interests are earned under the compound interest method as the principal amount increases at every interval.


The formula for simple interest is SI=P*R*T/100. In this formula, ‘P’ stands for the principal amount, ‘T’ stands for FD investment tenure and ‘R’ stands for ICICI Bank FD interest rate.

The formula for compound interest is CI=P(1+r/100)-P. In this formula, ‘P’ stands for  principal amount while ‘R’ stands for ICICI Bank interest rate.

How to Use PolicyBazaar ICICI Bank Fixed Deposit Calculator? 

Anyone can easily use an ICICI FD calculator to determine the maturity amount for a fixed deposit on policybazaar.com. Follow the steps given below to use an ICICI FD interest calculator:

  • Visit the website of policybazaar.com
  • Go to ICICI Bank FD Calculator page
  • You will find a form asking you to enter the investment amount
  • Fill in your preferred FD investment tenure and the applicable ICICI Bank FD rate of interest
  • Select if you are a senior citizen
  • Submit all the details and click on ‘Calculate’
  • The maturity amount for the fixed deposit will be displayed

Advantages of Using ICICI Bank Fixed Deposit Calculator

Take a look at the advantages of using an ICICI FD calculator:

  • It allows a person to determine the maturity amount that will be generated if he/she starts an FD in ICICI Bank.
  • It enables a person to compare various fixed deposit schemes within as well as outside ICICI Bank and select the most beneficial scheme.
  • It is ideal for people who seek wealth creation by earning additional benefits on their savings.
  • It helps people to plan their investments to build their financial portfolio.
  • It can be used by anyone easily and at any time of the day.
  • It is an online tool, which is available free of cost.

ICICI Bank FD Calculator - FAQs

  • Q.How can I double my ICICI Bank FD?

    Ans:.You can use the ‘Rule of 72’ to know the number of years in which your FD amount will get doubled. As per this rule, you need to divide number ‘72’ with the FD interest rate offered by the ICICI Bank to know the number of years it will take to double the FD amount.

    For example, if ICICI Bank is offering an interest rate of 8% on your FD amount, then you need to divide 72/ 8 as per the rule of 72, which comes to 9. Thus, it will take about 9 years for your fixed deposit amount to double up for the chosen ICICI Bank FD scheme.

  • Q.What are the FD interest payment options offered by ICICI Bank?

    Ans:The ICICI Bank comes with the following fixed deposit interest payment options:
    • Periodic interest payment option - In this option, the ICICI Bank will credit the interest earned on FD amount at each interval to your bank account.
    • Cumulative interest payment option - In this option, the ICICI Bank will credit the total interest on your principal amount earned at each interval to your bank account only at maturity.
  • Q.What is the minimum investment amount for opening an FD in ICICI Bank?

    Ans:You can open a fixed deposit in ICICI Bank with a minimum investment of Rs 10,000. However, an FD account can be opened for minors with a minimum investment of Rs 2,000.
  • Q.What is the maximum amount that I can invest in an FD in ICICI Bank?

    Ans:You can invest as much amount as you want in an FD with ICICI Bank as there is no maximum investment limit.
  • Q.Can I prematurely withdraw my ICICI Bank fixed deposit?

    Ans:Yes. You can withdraw your fixed deposit in ICICI Bank prematurely. However, you will have to pay a penalty for withdrawing prematurely.

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