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Dhan Laxmi FD Calculator

Dhan Laxmi Bank Fixed Deposit Interest Calculator

Last Updated 25th Jun 2021

Dhan Laxmi Bank FDs have tenures ranging from 5 years 1 day to 10 years with maximum rate of interest of 5.60%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.10%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 3.50% to 4.00% ₹ 1,00,067 - ₹ 1,00,153
15 days to 45 days 3.50% to 4.00% ₹ 1,00,144 - ₹ 1,00,493
46 days to 90 days 4.00% to 4.50% ₹ 1,00,504 - ₹ 1,01,110
91 days to 179 days 4.25% to 4.75% ₹ 1,01,060 - ₹ 1,02,343
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Dhan Laxmi Bank Fixed Deposit Calculator

Dhan Laxmi Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Dhan Laxmi Bank. Bank may allow higher interest rate on larger deposits. Dhan Laxmi Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Dhan Laxmi Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Dhan Laxmi Bank is 5.60% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 5 years 1 day to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.50% for a 5 years 1 day FD and a rate of 5.60% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.50%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Dhan Laxmi Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Dhan Laxmi Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Dhan Laxmi Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Dhan Laxmi Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in Dhan Laxmi Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Dhan Laxmi Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Dhan Laxmi Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Dhan Laxmi Bank FD for a 5-year tenure at an interest rate of 5.60% for depositors below 60 years and 6.10% for senior citizens. The maturity amount for this deposit amount is ₹ 1,32,056 and the total interest earned is ₹ 32,056 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 35,351 which is higher. The maturity schedule of Dhan Laxmi Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.60% for Citizens below 60 years and at 6.10% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2021 ₹ 2,820 ₹ 1,02,820 ₹ 3,073 ₹ 1,03,073
2022 ₹ 5,880 ₹ 1,08,700 ₹ 6,433 ₹ 1,09,506
2023 ₹ 6,216 ₹ 1,14,916 ₹ 6,834 ₹ 1,16,340
2024 ₹ 6,572 ₹ 1,21,488 ₹ 7,261 ₹ 1,23,601
2025 ₹ 6,948 ₹ 1,28,436 ₹ 7,714 ₹ 1,31,315
2026 ₹ 3,621 ₹ 1,32,057 ₹ 4,036 ₹ 1,35,351

Dhan Laxmi Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Dhan Laxmi Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

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What is the highest interest earned on Dhan Laxmi Bank fixed deposit?

You can earn a maximum interest of 5.60% on Dhan Laxmi Bank fixed deposit.

How is Dhan Laxmi Bank FD interest calculated?

The formula to calculate interest on Dhan Laxmi Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Dhan Laxmi Bank?

The growth of Dhan Laxmi Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Dhan Laxmi Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in Dhan Laxmi Bank.

What are the minimum and maximum amounts that I can invest in an Dhan Laxmi Bank FD?

The minimum investment limit in Dhan Laxmi Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

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Dhan Laxmi News - Jul 2021
  • 2021-06-03 : Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
    Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
  • 2020-03-04 : New FD rates for Dhan Laxmi Bank
    Dhan Laxmi Bank revised its FD rates with effect from 1 March 2020. The FD rate for 7 to 45 days is 4%, for 46 to 90 days it is 5% and it is 5.50% for 91 to 179 days. The Fixed deposit rate for 180 days to less than one year is 6.15% and for one year to and upto two years is 6.90%. In addition to this, the fixed deposit rate for above two years upto and inclusive of 10 years is 6.50%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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