ESAF Bank FD Calculator
ESAF Small Finance Bank Fixed Deposit Calculator 2022
ESAF Small Finance Bank FDs have tenures ranging from 1 year 11 months 4 days to 2 years 11 months 1 day with maximum rate of interest of 6.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.75%.
| Tenure | Interest Rate for General Public | Interest Rate for Senior Citizens | Max Maturity Amount per Lakh |
|---|---|---|---|
| 7 days to 14 days | 4.00% | 4.50% | ₹ 1,00,077 - ₹ 1,00,173 |
| 15 days to 59 days | 4.50% | 5.00% | ₹ 1,00,185 - ₹ 1,00,808 |
| 60 days to 90 days | 5.25% | 5.75% | ₹ 1,00,863 - ₹ 1,01,418 |
| 91 days to 181 days | 5.50% | 6.00% | ₹ 1,01,371 - ₹ 1,02,997 |
| 182 days | 5.00% | 5.50% | ₹ 1,02,509 - ₹ 1,02,761 |
| 183 days to 363 days | 5.75% | 6.25% | ₹ 1,02,904 - ₹ 1,06,362 |
| 364 days | 5.25% | 5.75% | ₹ 1,05,339 - ₹ 1,05,859 |
| 365 days to 366 days | 6.00% | 6.50% | ₹ 1,06,136 - ₹ 1,06,679 |
| 546 days | 5.00% | 5.50% | ₹ 1,07,716 - ₹ 1,08,514 |
| 547 days to 727 days | 6.00% | 6.50% | ₹ 1,09,335 - ₹ 1,13,704 |
| 728 days | 5.25% | 5.75% | ₹ 1,10,963 - ₹ 1,12,060 |
| 729 days to 909 days | 6.25% | 6.75% | ₹ 1,13,186 - ₹ 1,18,140 |
| 910 days | 5.25% | 5.75% | ₹ 1,13,887 - ₹ 1,15,296 |
| 911 days to 1091 days | 6.25% | 6.75% | ₹ 1,16,741 - ₹ 1,22,150 |
| 1092 days | 5.25% | 5.75% | ₹ 1,16,888 - ₹ 1,18,626 |
| 1093 days to 1273 days | 5.75% | 6.25% | ₹ 1,18,644 - ₹ 1,24,147 |
| 1274 days | 5.25% | 5.75% | ₹ 1,19,968 - ₹ 1,22,051 |
| 1275 days to 1455 days | 5.75% | 6.25% | ₹ 1,22,070 - ₹ 1,28,046 |
| 1456 days | 5.25% | 5.75% | ₹ 1,23,129 - ₹ 1,25,575 |
| 1457 days to 1637 days | 5.75% | 6.25% | ₹ 1,25,595 - ₹ 1,32,067 |
| 1638 days | 5.25% | 5.75% | ₹ 1,26,373 - ₹ 1,29,202 |
| 1639 days to 1819 days | 5.75% | 6.25% | ₹ 1,29,222 - ₹ 1,36,215 |
| 1820 days | 5.25% | 5.75% | ₹ 1,29,703 - ₹ 1,32,932 |
| 1821 days to 3653 days | 5.25% | 5.75% | ₹ 1,29,722 - ₹ 1,77,070 |
| 367 days to 545 days | 6.00% | 6.50% | ₹ 1,06,171 - ₹ 1,10,106 |
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ESAF Small Finance Bank Fixed Deposit Calculator
ESAF Small Finance Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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.
How to Use MyLoanCare FD Calculator
Here is a simple procedure to use MyLoanCare FD calculator:-
ESAF Small Finance Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options
How is ESAF Small Finance Bank FD Rate Calculated?
ESAF Small Finance Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.
ESAF Small Finance Bank FD Maturity Calculation for 5 Year
The interest earned on a fixed deposit in ESAF Small Finance Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on ESAF Small Finance Bank FD can be calculated monthly, quarterly, half-yearly and annually.
Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in ESAF Small Finance Bank FD for a 5-year tenure at an interest rate of 6.25% for depositors below 60 years and 6.75% for senior citizens.The maturity schedule of ESAF Small Finance Bank FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 6.25% for Citizens below 60 years and at 6.75% 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 | |||
| 2022 | ₹ 6,398 | ₹ 1,06,398 | ₹ 6,923 | ₹ 1,06,923 | ||
| 2023 | ₹ 6,807 | ₹ 1,13,205 | ₹ 7,402 | ₹ 1,14,325 | ||
| 2024 | ₹ 7,243 | ₹ 1,20,448 | ₹ 7,914 | ₹ 1,22,239 | ||
| 2025 | ₹ 7,706 | ₹ 1,28,154 | ₹ 8,462 | ₹ 1,30,701 | ||
| 2026 | ₹ 8,199 | ₹ 1,36,353 | ₹ 9,048 | ₹ 1,39,749 | ||
ESAF Small Finance Bank FD Calculator Formula
Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on ESAF Small Finance Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
Other Investment Calculators
FAQs
✅What is the highest interest earned on ESAF Small Finance Bank fixed deposit?
You can earn a maximum interest of 6.25% on ESAF Small Finance Bank fixed deposits.
✅How many years FD will double in ESAF Small Finance Bank?
The growth of ESAF Small Finance 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 ESAF Small Finance Bank FD.You can also use ESAF Small Finance Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in ESAF Small Finance Bank.
✅What are the minimum and maximum amounts that I can invest in an ESAF Small Finance Bank FD?
The minimum investment limit in ESAF Small Finance Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
✅Can I withdraw my premature FD from ESAF Small Finance Bank?
Yes, you can withdraw your premature FD amount if you want money before the tenure ends.
✅How can I calculate ESAF Small Finance Bank premature FD amount?
To calculate premature FD amount you can use ESAF Small Finance Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).
