IndusInd Bank FD Calculator

IndusInd Bank FD Calculator is a reliable and convenient tool that allows its customers to plan their needs accordingly and customize a model that best suits their investment motives. IndusInd Bank Fixed Deposit accounts can be opened by individuals (Indian residents and NRIS), senior citizens, partnership firms, and companies, guardians (parent or grandparent) on behalf of minors, clubs, trusts, associations, societies and clubs.

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It is in situations such as this that the IndusInd Bank FD Calculator can be of great use to make customers realize the utmost importance of investing their hard-earned money in a secure place and the plethora of benefits they receive after the maturity of the term. 

The documents required to open a fixed deposit at IndusInd Bank are proof of identity, address proof, bank statement and a cancelled check.

Benefits of IndusInd Bank Fixed Deposit

  • Loan against FDs - Individuals can avail of loans up to 90% against their fixed deposit. Loans against FDs are given at rates between 4.25% and 8%. The maximum tenure of the loan equals the maximum tenure of the customer’s fixed deposit.
  • Flexible Payout Options - Individuals can choose to collect the interest amount from their fixed deposit account in IndusInd Bank, based on the several flexible options offered by the bank and accepted by the customer that could be monthly, quarterly, half-yearly, annually, or at the time of maturity.

How does the IndusInd Bank FD Calculator work?

IndusInd Bank offers a variety of plans to its customers, and the customers must know the difference that could exist in the interest rates for each of the plans. The interest rates on fixed deposits for Indian citizens and NRI's might slightly vary. Similarly, fixed deposit interest rates are comparatively on the higher side for senior citizens. The interest rates offered by IndusInd Bank provided on Fixed Deposit accounts ranges from a minimum of 4.00% to a maximum of 7.15%. Accordingly, the table below shows in-depth the various interest rates described by the IndusInd Bank FD Calculator:

Tenure Interest Rate for Senior Citizens Interest Rate for General Public
7 -14 days  3.50 3.00
15 - 30 days 3.50 3.00
31 - 45 days 3,90 3.40
46 - 60 days 4.25 3.75
61 - 90 days  4.50 4.00
91 - 120 days 4.75 4.25
121 -180 days 5.00 4.50
181 - 210 days  5.75 5.25
270 - 364 days 6.25 5.75
61 months to 10 years 6.75 6.25
1 year to 1 year 2 days 7.00 6.50
1 year 3 days to 1 year 2 months 7.00 6.50
1 year 2 months 1 day to 1 year 5 months 29 days 7.00 6.50
1 year 6 months to 6 months 29 days 7.00 6.50
1 year 7 months to 1 year 364 days 7.00 6.50
2 years to 2 years 5 months 29 days 7.00 6.50
2 years 6 months to 2 years 8 months 29 days 7.00 6.50
2 years 9 months to 2 years 364 days 7.00 6.50
3 years to 60 months 29 days 7.00 6.50

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How does IndusInd Bank FD Calculator help Customers?

IndusInd Bank offers a variety of Fixed Deposit options to its customers that they can choose from depending upon their requirements, needs, suitability, income, amount of money they wish to invest, etc. Naturally, with the numerous options, customers are often left confused and unsure as to what plan would be the best for them. Thus, they need to understand the plans in depth and select the plan that offers the highest interest rates.  

The IndusInd Bank FD Calculator is a great financial tool that assists investors in estimating the fixed deposit amount for a fixed tenure. With the help of the FD calculator, individuals can make an estimation of the approximate value they are likely to receive at the time of maturity. They can use this tool before making an investment to assure that the final amount they receive matches their life's goals, thus allowing investors to make informed decisions. 

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Simple Interest v/s Compound Interest

All investors should keep in mind that interests earned in deposited accounts are calculated by two methods: simple interest and compound interest.

Simple Interest: Simple Interest is calculated every year, only on the principal amount. The following formula can be used to calculate simple interest:

Simple Interest = P x R x T/100 

Where P = principal,

           R = rate of interest and 

           T = time period in years.

Compound Interest: In this method, the interest earned is added to the principal, and the investor gets the interest on the combined amount. In simpler words, interest is earned on the principal amount as well as the interest earned on the principal amount. The formula mentioned below can be used to calculate compound interest: 

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

Where A = total returns,

            P = principal amount invested, 

            r =  annual rate of interest.

           n = compounding frequency per annum and 

           t =  number of years passed after the initial investment.

Thus, in almost all cases, the interest gained through the compound interest method is higher than interest gained through the simple interest application. 

How to IndusInd Bank FD Calculator?

The FD Interest IndusInd Bank works with the main focus of making the entire process of calculating interest much simpler and convenient for each and every customer so that they receive adequate information regarding the final outcome. The entire process is simple, user-friendly and can be conveniently availed at the bank portal. 

A similar principle has been adopted at the PolicyBazaar IndusInd  Bank FD Calculator to make the process furthermore accessible for people while also assisting investors in selecting a suitable model. The steps involved in calculating the interest on fixed deposit have been well defined and simple for any layman to make use of and plan investments according to their individual needs. The steps to be followed are mentioned below:

Step 1: The customer has first to visit the official website and click on the FD calculator tool.

Step 2: Secondly, the FD Calculator IndusInd Bank has to be selected.

Step 3: A page will be displayed where the users are required to input the principal amount.

Step 4: In this step, he needs to select the investment tenure, i.e., the number of years he would want to deposit his money in the fixed deposit account.

Step 5: The customer then can choose the type of deposit he would prefer, whether it is reinvestment, quarterly, or monthly payout.

Step 6: Finally, the user can click on the calculate button to get the outcome displayed on the screen.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Advantages:

The benefits of using the FD calculator IndusInd bank are numerous. One of the dominant reasons for using it is to smoothly rule out the investing process and having clear-cut ideas regarding the final outcome. The system provides accurate information that the users can rely upon with no doubts. However, other ways in which the IndusInd Bank FD Calculator can come in handy are as follows:

  • It provides a seamless and error-free experience to the customers.
  • The tool is absolutely free of cost, and the customers can make use of it any number of times. They can compare final outcomes for various permutations of tenure, fixed deposit rates, and amount.
  • It is available at various online portals, and the users can avail the system conveniently from the comfort of their own homes.
  • The simple set-up of the FD calculator saves the time and effort of the customers.
  • It is reliable and, thus, calculates the outcomes accurately.

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Written By: PolicyBazaar - Updated: 24 June 2021
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